MONTREAL, July 19, 2018 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V:RLV) (OTCQB:RLLVF) and (Frankfurt:6BX) (the “Company” or “Relevium”), is pleased to announce that the company’s wholly owned subsidiary Biocannabix Health Corporation (“BCX”) has received an approval letter from the City of Ville St-Laurent (VSL), located in Montréal, Québec for the Company’s 93,000 SQ. FT. cultivation and fully integrated processing facility under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
Aurelio Useche, CEO of Relevium stated: “The approval letter from the City of Ville Saint-Laurent constitutes an important milestone for the Company as it provides the project with municipal support and considerably de-risks the process.” Mr. Useche continued: “To our knowledge the Biocannabix facility will be the most central ACMPR licensed producer in the Greater Montreal area, a city that is the second largest population center in Canada and with its strategic location, which is situated 20 minutes from the downtown core and adjacent to the TransCanada highway. This will provide the company with an important competitive advantage.”
Now that the approval letter from the city of Saint-Laurent has been granted, the Company will now focus on finalizing the lease agreement for the facility. The Company intends to have the lease agreement finalized within the next 30 days. The Company will continue to work with its consultants, PipeDreemz Inc. on the construction design, business plan and cultivation parameters for the facility and expects to provide an update on progress by late summer.
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or brands with a focus on e-commerce in the growing health and wellness sector. The Company, through its wholly-owned subsidiary, Biocannabix Health Corporation, is also incorporating cannabinoids into its nutraceutical strategy and provide its retail customers access to the health benefits of cannabis through its formulations and established brands.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, including the timing and completion of the proposed acquisitions, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the Company will be able to apply for and ultimately obtain an ACMPR licence, the proposed business of Biocannabix will develop as anticipated, that the Company will raise sufficient funds to develop the Biocannabix business, and that the Company will obtain all requisite regulatory approvals. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the proposed business developments may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
President and CEO
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