Relevium Improves Financial Position and Provides Updates on Warrants Exercises and Share for Services Agreement
MONTREAL, QUEBEC–(Marketwired – Feb. 5, 2018) - Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the “Company” or “Relevium”) is pleased to report improvements on its financial position, provide an update on warrants exercised to date and on shares issued to its corporate secretary on a share for services agreement.
Improved Financial Position and Warrants Exercises to-date
The company has received warrant and options exercises and issued 13,591,361 shares at a weighted average price of $0.15, resulting in total cash proceeds of $2,008,704. Aurelio Useche, CEO stated: “Combined with the debt conversion announced on December 12, 2017, the company has significantly improved its financial position. We want to thank our loyal shareholders for their support and loyalty as we pursue our objectives in 2018.”
Shares Issued to Corporate Secretary per Share for Services Agreement
The company also announced it has issued 27,300 shares on Friday February 2, 2018 at a deemed price of $0.183146 per share to the Company’s Corporate Secretary, Mr. David A. Johnson, pursuant to a shares-for-services agreement disclosed in a company press release dated October 20, 2017. The shares are subject to a four month hold period. Pricing was determined using the VWAP on the close of February 2, 2018.
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