MONTREAL, June 11, 2020 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V: “RLV”, OTC: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce the successful delivery of Cleancare™ Hand Sanitizers to retail customers in the in the US, including the orders announced in a news release on April 15th of this year. The Company expects to begin fulfillment for its B2C customers over the next 15 days as it builds inventory levels.
On April 2, 2020, Relevium announced that it had sourced and would begin the commercialization of a line of Bioganix Cleancare hand sanitizers, in response to the COVID-19 pandemic. On April 15, 2020, the Company announced that it had received initial orders totalling $250,000 and that it would scale-up operations to meet market demand.
After an initial ramp up of production and supply, the Company has successfully begun to deliver CleanCare™ Hand Sanitizers under market reasonable lead times, while working to increase capacity, speed of supply and product format offering.
The Company’s initial focus has been on delivering CleanCare™ to US retailers and as disclosed in the corporate regulatory news release dated June 2, 2020, the Company has already begun to fulfill orders received in mid-April.
“The combination of the unusually high demand created by COVID-19 and the scarcity of supply in the market created long lead times for some of the critical components, including alcohol and packaging supplies. These market conditions led to the appearance of cheap, non-compliant imported products, some of which have been recalled,” stated Aurelio Useche, CEO of Relevium. Mr. Useche added, “We are extremely pleased to be able to provide to the market and begun the successful delivery of a premium and compliant product made in the US and Canada.”
CLEACARE™ LINE GUIDANCE
The Company is currently focused on expanding its brick and mortar retail network, primarily in the US, and expects the hand sanitizing business to remain strong right through 2021. The Company is also expanding the product line in terms of formats, delivery methods and product specs in order to customize its product line to the specific requirements of each retailer, including co-branding, coloring, scents and others.
Although the product remains restricted in all major online platforms, the Company has already applied to get approval to sell on all its online marketplaces.
In terms of its recently announced air purification systems, the Company is targeting to release the product this fall in preparation for the expected potential second wave of the COVID-19 virus.
Neither the 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.
About Relevium Technologies
Relevium is a publicly traded Company that operates in the health and wellness industry, including legal cannabis, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and medical cannabis. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly owned subsidiaries:
BGX E-Health LLC (BGX), based in Orlando, Florida, markets dietary supplements, nutraceuticals, sports nutrition, and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe.
Relevium’s premium brands are sold at some of the world’s largest retailers including Walmart.com and Amazon.com.
Biocannabix Health Corporation (BCX), based in Montreal, Quebec, is a biopharma nutraceutical Company focused on delivering pediatric endo-medicinal nutraceuticals for cannabinoid therapy.
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 and United States 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, 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”, or “would” 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. 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.
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 to rely on the applicable safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
President and CEO
For more information about this press release: Tel: +1.888.528.8687