MONTREAL, March 11, 2021 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce the company has secured delivery of the delivery of first production batch Personal Protective Equipment (“PPE”) from the a supply agreement entered into the last quarter of 2020 with 24 Clean Energy (the “Supplier”), a manufacturer and distributor of high-end medical grade nitrile gloves. Relevium has also obtained the exclusive North American rights to market the “DI-Line” brand of medical grade gloves, a much needed and sought-after PPE product.
This initial order of 500,000 boxes, each box containing a 100-unit count, was secured at a cost of just over CAD $5 million, with funds being paid in advance at the time of order. The supplier has finished the first production run and the gloves are expected to arrive at the port of Los Angeles during the third week of April. The Company will deliver the gloves to its customers in the US in conjunction with its Canadian distribution partners. The Company expects revenues from the 500,000 boxes to be of a total transactional value of between CAD $8 and $10 million.
According to market research company Grand View, in 2019, prior to the pandemic, the global nitrile gloves market size was valued at USD 3.12 Billion, with an expected compounded annual growth rate (CAGR) of 14.1% from 2020 to 2027, not including the effect of the current pandemic. Rising awareness regarding the benefits of the PPE product in healthcare facilities, coupled with the recent COVID-19 pandemic, are expected to accelerate the long-term demand, and in particular as health agencies in Europe review proposals for making the use of nitrile gloves mandatory in the services and institutional industries as well.
Aurelio Useche, CEO of Relevium stated, “We see a long-term incremental demand for health care PPE and related products, a natural fit to our existing core, which will be channeled in conjunction with the H-Source Platform. We proactively capture the opportunity created by a major gap in the demand and supply of this commodity leaving users looking for a stable supply chain. We expect the imbalance to remain strong throughout 2021 and prices to remain elevated”.
Mr. Useche further comments: “We have now secured direct access to PPE manufactures & suppliers, which has established significant credibility with our valued customers. By collaborating with our trusted partner H-Source Holdings (TSXV: HSI), we can now deploy an entire end-to-end solution, including procurement, logistics & supply-chain delivery, all backed by block-chain technology. This provides Relevium a significant advantage for existing and future opportunities in the PPE / medical sectors, both in North America and globally”.
About Relevium Technologies
Relevium is a publicly traded Company that operates in the health and wellness industry, including cannabinoids, 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 cannabinoids. 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.
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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 be able to apply for and ultimately obtain an ACMPR licence, the proposed business of Biocannabix will develop as anticipated, that the Company will raise sufficient funds to develop the Biocannabix business, and that the Company will obtain all requisite regulatory approvals.
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 business developments may not occur as planned; the timing and receipt of requisite approvals and failure to raise sufficient funds.
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
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