Radient Technologies Inc. Reiterates its Non-Exposure to U.S. Marijuna-Related Activity
EDMONTON, ALBERTA–(Marketwired – Jan. 15, 2018) - In response to the January 12, 2018 statement issued by the Canadian Securities Administrators (“CSA”) in which the CSA stated it “is considering whether [its] disclosure-based approach for issuers with U.S. marijuana-related activities remains appropriate in light of the rescission of the Cole Memorandum,” Radient Technologies Inc. (“Radient” or the “Corporation”) (TSX VENTURE:RTI) wishes to reiterate that its business development, operational, and capital markets activity is currently conducted only where its actions are federally legal, and in compliance with all other applicable laws.
Within its cannabinoid-focused lines of business, Radient has continued to recognize the authority of the U.S. Department of Justice to enforce laws related to marijuana, and that government policy could at any time revoke or change prior guidance relating to these laws. As such, Radient’s geographic strategy has remained focused on opportunities for cannabis and CBD extracts where federal regulation allows the Corporation to operate freely, namely, Canada, a growing number of European countries, Australia, and others.
“We are confident in stating our position on this matter as we have consciously managed our commercial, corporate finance, and operational activity to avoid the risk presented by the inconsistency between state and federal cannabis regulation in the U.S.” said Mike Cabigon, Radient’s COO. “We can see our growth opportunities are truly global, and until there is explicit regulatory clarity on this matter in the U.S., we remain focused on executing our business plan in other areas of the world.”
Radient extracts natural compounds from a range of biological materials using microwave assisted processing (“MAP™”), a patented technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Visit www.radientinc.com for more information.
SOURCE Radient Technologies Inc.
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 Company’s ability to close the Proposed Transaction; the impact of the Real Estate Expansion; and the growth of the Company’s business operations. 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.
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