OC Beverages changes name to “Revium Recovery, Inc.”, acquires new symbol and implements reverse stock split
New York, Dec. 09, 2020 (GLOBE NEWSWIRE) -- OC Beverages, Inc. (OTCPINK: OCBG) has, through its wholly owned subsidiary Revium Recovery, Ltd. (“Revium Ltd.”), acquired exclusive rights to develop and market an innovative and unique anti-addiction treatment which implements measurement based, integrative care which uses a holistic approach and takes into account physical, cognitive, and psychological parameters of the patient.
Addiction is a global scourge, affecting people of all cultures around the world. According to the United Nations Office on Drugs and Crime, over 350 million people suffered from substance abuse in 2017. The global substance abuse disorders market is estimated at more than USD $56 billion, which accounts for more than 30% of the total global behavioral rehabilitation market valued at USD $188.1 billion in 2015, according to Grand View Research Data’s report on Behavioral Rehabilitation Market published in 2017.
Revium Recovery, Ltd., based in Israel, is a clinical-caliber company focused on the development of a disruptive, methodical and novel proprietary approach toward addiction treatment, enabled via a unique decision-making support and guidance system (DMSS). Its mission is to design and deliver DMSSs for first-in-class integrative-care to individual treatment programs to produce optimal outcomes in addiction treatment. Revium’s flagship product is a novel, integrative-care program developed for rehabilitation providers, combining comprehensive diagnostics and individualized programs for regulating addiction-related hormone levels, implemented to each patient using advanced informatics tools. The Company’s innovative approach relies on “smart”, patient-tailored use of a natural neurosteroid dehydroepiandrosterone (DHEA) in concert with standard inpatient or outpatient addiction treatment programs.
Revium Recovery, Ltd. entered into an agreement with Retorno, one of the Israel’s largest rehabilitation centers, pursuant to which Revium was granted worldwide exclusive rights to develop and market Retorno’s comprehensive addiction rehabilitation program. The program utilizes DHEA as part of a complex treatment approach currently in use by Retorno. This novel treatment approach has been reviewed by the Department for the Treatment of Substance Abuse within Israel’s Ministry of Health and has been recommended for use as an add on augmenting treatment.
Concurrently, Revium Ltd. has also entered into an agreement with Bar Ilan University and the University of Haifa of Israel to support the Company’s development and testing of the DMSS and testing its efficacy in addition treatment.
In connection with the acquisition of its new business, the Company closed on a private placement of units of its securities to accredited investors with gross proceeds to the company of $1.61 million. The proceeds of the private placement will be applied to executing the combined company’s new business plan which includes continued R&D investment, implementation of the regulatory plan, new initiatives in sales and marketing, as well as strategic acquisitions.
Inna Martin, Revium Recovery, Ltd.’s CEO stated: "Addiction is an illness that can strike anyone, anywhere. With tens of millions of sufferers worldwide, we all know someone struggling with substance use disorder. We see how it literally destroys their lives, and the lives of their families’ as well. Unfortunately, today’s rehab programs do not offer enough beds and offer limited hope of recovery. The thousands of clinics worldwide are characterized by very long years treatment methodology, insufficient long-term rehabilitation rates and high levels of relapse. Revium Recovery was established to achieve a real breakthrough the addiction community’s been waiting for! We develop measurement-based, integrative treatment approach which we believe will significantly increase the first-ever approach to take the whole patient into account.”
Yoram Drucker, OCBG CEO stated: "I'm pleased to reach this point, where we may offer an upgrade in the way addiction is treated, giving better chance of recovery to the patients and their families. We are looking to implement the new technology, allowing rehabilitation centers use the platform and potentially increase the success rate of their treatment".
As a prelude to the new business, the Company changed its corporate name to “Revium Recovery, Inc.” and implemented a reverse stock split at a ratio of 1-for-500. Beginning December 9, 2020, the company stock is anticipated to trade under the new symbol on post-split basis.
“We believe the name change and the change in our capital structure are critical steps to attracting a broader range of investors,” said Yoram Drucker, OCBG CEO.
Following the Private Placement and the capital restructure, currently there will be approximately 34 million shares of common stock outstanding.
New Trading Symbol and CUSIP
Our common stock is currently quoted on the OTC Markets Pink tier under the trading symbol “OCBG.” Beginning December 9, 2020, our common stock will be quoted on the OTC Markets Pink tier on a post-split adjusted basis under the symbol “OCBGD” for 20 business days, after which time the symbol will change to our new trading symbol, RVRC.
The CUSIP number of our common stock will change to 76151C100.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, we are using forward-looking statements when we discuss Revium Recovery, Inc.’s (“Revium”) future operations and its ability to successfully advance the anti-addiction rehabilitation program; the nature, strategy and focus of Revium’s business; and the development and commercial potential and potential benefits of any of other related service offerings of Revium. Revium may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of these forward-looking statements could differ materially from those described in or implied by the statements in this press release, including: the uncertainties associated with raising sufficient capital and the requirement for significant additional capital to advance our new business, which may not be available on favorable terms or at all; risks related to business interruptions, including but not limited to, the outbreak of COVID-19 pandemic, which could seriously harm our financial condition and increase costs and expenses. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risks discussed in our public filings with the OTC Markets. Except as otherwise required by law, Revium disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether, as a result of new information, future events or circumstances or otherwise.
Contact:
Inna Martin
+972-3-641-7779