EDMONTON, Alberta, March 25, 2019 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce that it has appointed Mr. Adrian Marshall and Mr. James Blakelock to the joint role of Executive Vice President, Corporate Strategy and Planning, and Mr. Bill Wasson to the role of Senior Vice President, Capital Markets and Investor Relations. Working closely with Radient’s existing Management Team and Board of Directors, they will be instrumental in developing, driving and communicating the Company’s corporate strategy and global expansion.
Denis Taschuk, CEO & President of Radient, commented: “These additions to our management team are very strategic in nature, and we consider ourselves fortunate to have attracted such top talent as we move forward with our global expansion plans. Both Mr. Marshall and Mr. Blakelock bring to Radient decades of experience working directly with some of the world’s leading rapid growth consumer products companies, while Mr. Wasson brings his extensive experience in investment banking and corporate advisory, having also been an early mover in corporate financing within the cannabis sector.”
Adrian Marshall, Executive Vice President of Corporate Strategy and Planning
Mr. Marshall is an experienced senior executive and entrepreneur with a wealth of expertise in corporate strategy, international sales & marketing, corporate affairs, and communications. He spent his early career in the beverages, soft paper and tobacco sectors creating & launching new consumer goods brands across markets in the UK, Japan, Russia, the Middle East, and Africa.
Mr. Marshall was the first global head of Corporate Social Responsibility to be appointed by a major tobacco group, British American Tobacco (“BAT”). As Director of BAT’s global ‘harm-reduction’ programme, he was the architect of the group’s strategy to research, develop, assess and commercialize new alternative products such as smokeless tobacco, electronic cigarettes and nicotine inhalers.
After leading BAT’s global harm-reduction efforts for 5 years, Mr. Marshall launched Nicoventures Ltd, a new UK healthcare start-up within the BAT group. Under his leadership, Nicoventures was the first, and to date the only, company to succeed in obtaining a Marketing Authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for a novel nicotine inhalation product with general sale list classification and the harm reduction label, “a safer alternative to smoking.”
Mr. Marshall has started several companies of his own in the technology, marketing, communications and consultancy fields. He holds a BSc. (Hons) in Philosophy from the University of Hull and is an experienced executive leadership coach.
James Blakelock, Executive Vice President of Corporate Strategy and Planning
Prior to joining Radient, Mr. Blakelock worked for 26 years with BAT where he acquired significant international sales, marketing, and country management experience in the United Arab Emirates, Saudi Arabia, Singapore, Cambodia, and Russia.
Mr. Blakelock held numerous senior executive roles within the BAT Group including Global Head of Regulation, Global Head of Sustainability, Regional Corporate and Regulatory Affairs Director for Eastern Europe, the Middle East, and Africa, and served as a Director of BAT Malaysia Plc.
Mr. Blakelock was responsible for leading BAT’s global regulatory engagement activities, BAT’s successful listing as the only tobacco company in the Dow Jones Sustainability Index, leading the international roll-out of BAT’s award winning social and environmental reporting initiative, and the development of BAT’s global corporate business principles.
He holds a BA (Hons) in Business Studies, a diploma from the Chartered Institute of Marketing, and was recently awarded the Financial Times Non-Executive Director diploma.
William (Bill) Wasson, Senior Vice President, Capital Markets and Investor Relations
Mr. Wasson is a seasoned finance professional with over 25 years of experience providing corporate debt, equity, and advisory services to a wide variety of private and public entities.
Prior to joining Radient, he held senior management roles in corporate credit, investment banking, and private equity. Through his previous roles at TD Bank, National Bank, and multiple boutique dealers, Mr. Wasson has helped finance some of Canada’s largest corporate entities. Additionally, he has fostered groundbreaking financing initiatives in the renewable power, infrastructure, and cannabis sectors in Canada.
Mr. Wasson graduated from McMaster University with a Bachelor of Commerce, and he holds a Chartered Director designation from The Directors College at the DeGroote School of Business.
As Senior Vice President, Capital Markets and Investor Relations for Radient, and subject to approval from the TSX Venture Exchange, Mr. Wasson will be working alongside Radient’s Management Team and Board of Directors to communicate directly with investors, analysts, and shareholders regarding publicly disclosed information pertaining to the Company. He will also be advising the Company on various capital markets strategies, including analyzing potential mergers and acquisitions opportunities on behalf of Radient.
Shares for Services:
The Company intends to issue shares to a company controlled by Messrs. Marshall and Blakelock as compensation for their corporate strategy and planning services. Pursuant to the terms of the agreement, Radient may issue £48,750 of common shares a month in consideration for such services.
The number of shares to be issued for each month will be determined at the end of each month, after the services have been provided to the Company. The issue price of the shares will be the greater of (i) the 15 day VWAP of Radient shares on the last trading day of such month; and (ii) the “Discounted Market Price” (as defined in the TSX Venture Exchange policies) on the last trading day of such month. Further, if certain revenue milestones are reached by Radient as a result of the services provided by Messrs. Marshall and Blakelock, Radient shall issue additional shares as consideration for the services of Messrs. Marshall and Blakelock. The Company will issue a press release after each issuance of shares under the terms of the Agreement.
The agreement shall automatically renew for successive one-year terms, subject to the rights of termination of the parties. The shares for services agreement is subject to approval by the TSX Venture Exchange and will be subject to TSX Venture Exchange approval for each renewal term.
Proposed Shares for Debt Transaction:
Radient also announces a proposed shares-for-debt transaction in which Radient would issue up to 96,252 common shares, at a price of CAD $1.02 per share, to an arm's length third party creditor of the Company in connection with the settlement of an aggregate of USD $73,206 of debt. The shares for debt transaction is conditional on TSX Venture Exchange approval. All securities to be issued pursuant to this settlement will be subject to a 4-month hold period.
Radient Technologies provides industrial-scale manufacturing solutions for premium natural ingredients and products. Utilizing its patented MAP™ extraction technology, Radient delivers superior customer outcomes in terms of ingredient purity, yield, and cost, serving global market leaders in industries such as foods & beverages, nutraceuticals, pharmaceuticals, cosmetics, and personal care. Since 2016, Radient has expanded its offerings to enter the cannabinoids market, using its MAP™ platform to provide premium ingredients that contain a full range of cannabinoid and terpene profiles. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
Denis Taschuk, Chief Executive Officer: email@example.com,
Prakash Hariharan, Chief Financial Officer: firstname.lastname@example.org,
For press and media enquiries, please contact Caitlin Cheadle, Director of Communications: email@example.com
For investment enquiries, please contact Bill Wasson, Senior VP of Capital Markets and Investor Relations: firstname.lastname@example.org
Forward Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the impact of managerial appointments; the shares for services arrangements; the shares for debt proposal; Company’s ability to expand its operations in Europe and Canada; the Company’s ability to grow its business in the cannabis sector and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.