Relevium Clarifies Operational Update
MONTREAL, QUEBEC–(Marketwired – Feb. 23, 2018) - Relevium Technologies Inc. (TSX VENTURE:RLV)(OTCQB:RLLVF)(FRANKFURT:6BX) (the “Company” or “Relevium”), is pleased to provide further clarifications on its press release from earlier today.
The Company has received several requests from active shareholders to clarify ambiguity in the language of the operational press release from earlier in the day.
Aurelio Useche, President and CEO of Relevium stated: “The Company is very appreciative of the feedback from its shareholders who asked us to provide clarity over the press release.”
The first six months of operations have been successful in all fronts including sales revenue, which have continued to demonstrate an overall positive direction ahead of previous periods.
The Company did highlight in the previous news release a revenue decline, which was in reference to the month of November. The decline was related to product adjustments and changes in marketing costs due to the implementation of the automation process. However, overall revenues for the six-month period were on target.
The following is a summary of the message that was intended by the Company to communicate to shareholders:
- The integration, optimization and scale up of BioGanix since acquisition has been successful and as expected. The transition period included an expected learning curve and the operating team has done very well in meeting the challenge
- Sales revenues are on target and ahead of last year’s results by the previous ownership.
- The Company has made several important investments, not only to optimize current operations, but also to prepare the team for organic and acquisition-based growth.
The following were also important updates management felt key to convey to its shareholder base:
- The eventual launch of three (3) new brands, the culmination of the successful exclusivity agreements entered into by the company during the reporting.
- The launch of over twenty (20) new products or SKUs in 2018 expected hit the shelves as soon as March 2018.
Management looks forward to reporting Q2 2018 financial results next week.
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.
President and CEO