MONTREAL, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce it has executed a binding agreement to acquire 100% of the shares of Sleipnir Nutrition Ltd. (“Sleipnir”), a UK health and wellness multi-brand portfolio entrepreneurial company with products in superfood teas, skin care and beauty. The transaction is expected to close before the end of this month.
“We are excited to continue to strengthen our branding and global reach capabilities with the strategic acquisition of Sleipnir,” stated Abis Hussain, Chief Marketing Officer of Relevium.
The acquisition is expected to be accretive immediately in terms of its current revenue base which adds initially $500,000 USD to the consolidated topline of the Company while positioning Relevium for growth in the European market. Sleipnir is expected to spearhead all of the Company’s European expansion activities including the introduction of its CBD brand, LeefyLyfe™.
“The acquisition of Sleipnir Nutrition Ltd. represents the second transaction after the completion of the acquisition of Bioganix® approximately 16 months ago. Now that we have re-positioned the Bioganix® brand and built the infrastructure for growth, we are ready to resume our M&A strategy. Sleipnir represents an exciting opportunity in terms of brand extension, product diversification and European positioning,” stated Aurelio Useche, CEO of Relevium.
The Acquisition of Sleipnir
Sleipnir Founder and President Holly Llewellyn joins Relevium in a key leadership role.
The total value of the transaction is estimated to be US$397,725 including $US35,000 in cash at closing, a balance of sale of US$100,000 paid in shares (S$50,000 paid six months after closing and US$50,000 paid twelve months after closing) and debt assumption of US$262,725.
“I am thrilled to join the Relevium team, which gives us the leverage to expand our brands and exciting product lines in the UK and Europe. The addition of LeefyLyfe TM opens the door to exciting product innovation across our brands; this transaction accelerates our collective opportunities for continued growth and success within the Health and Wellness ecosystem,” stated Holly Llewellyn, Founder of Sleipnir Nutrition Limited.
The transaction is subject to regulatory approval by the TSX Venture Exchange.
Neither the 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.
About Sleipnir Nutrition
Sleipnir Nutrition Ltd is a private limited company that owns a portfolio of four health and wellness brands including Coco Smile®, Love Superfood Teas®, Nakd Beauty® and Health Collective™. The company retails its brands through major markets online including Amazon.UK and its native website.
About Relevium Technologies
Relevium is a publicly-traded company that operates in the health and wellness industry, including legal cannabis, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operations of brands and businesses in the Health and Wellness markets and medical cannabis. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly-owned subsidiaries:
BGX E-Health LLC (BGX): Based in Orlando, Florida, BGX markets dietary supplements, nutraceuticals, sports nutrition and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe. Relevium’s brands such as Bioganix® are sold at some of the world’s largest retailers including such as Walmart.com and Amazon.com.
The Company’s strategy for growing its brands includes expanding its product offering, adding new distribution channels and developing partnerships that add value through exclusive ingredients. BGX is currently testing a complete line of dietary supplements derived from Cannabis with an initial focus on hemp derived, whole plant organic extract rich in CBD (cannabidiol). The product line will be marketed through its brand LeefyLyfe® and will be sold first in Europe and then North America. The Company uses cannabinoids and ingredients that have achieved GRAS status (generally accepted as safe) to create brands that are sold via wholesale channels, retail channels and online distribution.
Biocannabix Health Corporation (BCX): Based in Montreal, Quebec, BCX is an entrepreneurial venture to establish a vertically integrated research based medical cannabis company in the Nutraceutical space.
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. 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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