MONTREAL, June 04, 2018 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSXV:RLV) (OTC:RLLVF) (Frankfurt:6BX) (the “Company” or “Relevium”), is pleased to announce that, through its wholly-owned subsidiary Biocannabix (“BCX”), it has selected a 93,000 square foot facility in Montreal, Quebec with the objective of cultivating premium organic cannabis.
With the assistance of PipeDreemz Inc., Relevium has conducted initial assessment on the facility, a 93,000 Sq. Ft industrial building located adjacent to the TransCanada Highway, Trudeau International Airport and about 20 minutes from downtown Montreal. The building has been selected as a desirable location with a low risk profile for the application submission to Health Canada for an ACMPR cultivation license. Biocannabix will be leveraging the vast experience of lead consultant George Routhier and his company PipeDreemz Inc., a company with a remarkable 100% rate of success with ACMPR licensing from Health Canada.
The strategy for the Company is to cultivate high quality organic strains for use in exclusive, high-end consumer packaged goods primarily for health and wellness. The Company will not compete on large scale supply, but rather plans to focus on custom niche and organic products with established partnerships for processing and ongoing research in cannabis derivatives.
The Company intends to develop the project in stages and expects to retrofit the building with an initial phase of 10,000 Sq. Ft of cultivation. Upon the completion of the first stage, successful operations and licensing, the company will then proceed with phases 2 and 3. Construction of the project is subject to financing and customary approvals.
Aurelio Useche, CEO of Relevium stated: “The strategy of Biocannabix will not be catered around being the lowest cost producer, but rather on being a premium and custom producer focused on consumer packaged goods to be sold through Relevium’s current and new brands.” Mr. Useche stated further: “The value in the supply chain will be in developing trusted, unique, ultra-premium product for luxurious brands.”
The founder and CEO of PipeDreemz, George Routhier has over 15 years of experience in Medical Marijuana research and 8 years of experience as a designated grower under MMAR. PipeDreemz is one of the most senior consultants in the Canadian cannabis landscape and has helped clients obtain over 16 Licensed Producers since inception. PipeDreemz offers a turnkey, start to finish service and has never had a Licensed Producer application fail at Health Canada.
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.