Relevium Announces Revenue of $2.1M for the Six-Month Period Ended December 31, 2017
MONTREAL, QUEBEC–(Marketwired – March 1, 2018) - Relevium Technologies Inc. (TSX VENTURE:RLV)(OTCQB:RLLVF)(FRANKFURT:6BX) (the “Company” or “Relevium”), is pleased to announce the results for the three and six months ended December 31, 2017.
Financial and Operating Highlights for the three and six-month period ended Dec 31, 2017
- Six-month sales up 8% to $2,121,468 including Q2 sales of $968,474 compared to sales recorded by Bioganix® before the acquisition
- Six-month gross profit of $1,231,020 (58% gross margin), including Q2 gross profit of $596,239 (62% gross margin)
- Adjusted EBITDA1 of $86,000 or a 4% Margin
- The Company secured several exclusivity agreements to enter the Hemp, Omega 7 and Pet supplement markets with
- Company increased product offering by 14% to 32 products with plans to expand line over 50 products in 2018
- Subsequent to the reporting period, the Company signed a JV agreement with Quantomic LLC for e-commerce technology with AI and blockchain integration
Aurelio Useche, President and CEO of Relevium stated: “We are very pleased with the results of our operations to date. We are focused on incremental revenue, expanding our product line and leveraging our partnership with HempCo and Tersus Life Sciences to release new products that will add to our sales growth and profitability.” The Company recorded revenues of $2,121,468 for the six-month period with a 58% margin. The Company recorded a loss of $1,032,341 for the 6-month period, which was primarily attributed to non-cash costs related to share-based payments of $554,110 from the issuance of options under the Employee Stock Option Plan, and interest and accretion costs of $403,384″. Mr. Useche added: “We currently have a stronger balance sheet and, along with our growing product offering and the continued implementation of our e-commerce and acquisition strategy, we expect continued growth of our Bioganix® brand”
For more information and to obtain access to the Company’s Condensed Consolidated Financial Statements and MD&A for the three and six-month period ended December 31, 2017, please visit www.sedar.com and our website www.releviumtechnologies.com.
Adjusted EBITDA and Non-IFRS Financial Measures
This MD&A includes certain measures which are not defined terms in accordance with IFRS such as Adjusted EBITDA. The Term “Adjusted EBITDA” refers to net income (loss) after adjusting for interest, taxes, depreciation and costs relating to acquisitions and their integration.
The Company believes that Adjusted EBITDA is useful supplemental information as it provides an indication of the results generated by the company’s main business activities prior to taking into consideration how those activities are financed and taxed and prior to taking into consideration depreciation and particularly the costs of integration of acquisitions.
Adjusted EBITDA is a key measure used by Management and the Company’s Board of Directors (“Board”) to understand and evaluate the company’s operating performance, to prepare annual budgets, and to help develop Operating Plans. Adjusted EBITDA is not a measure of performance under IFRS and should not be considered in isolation or as a substitute for net and comprehensive income (loss) prepared in accordance with IFRS or as a measure of operating performance or profitability.
Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies.
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce in the growing health and wellness sector. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
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 obtain stock exchange approval of the Offering, the proposed acquisition will occur as anticipated, that the Company will raise sufficient funds, and that the Company will obtain all requisite approvals of the acquisition. 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 acquisitions may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds under the Offering. 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.
Aurelio Useche, President and CEO
Relevium Technologies Inc.