MONTREAL, Dec. 16, 2021 (GLOBE NEWSWIRE) — RELEVIUM TECHNOLOGIES INC. (TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce today that in the month of December it secured two PPE contracts valued at CAD$11million and CAD$5 million respectively to supply a total a total of 180 million medical grade nitrile gloves.
The Company is also pleased to announce that on December 15, 2021, the Company delivered 127.5 million medical grade nitrile gloves, representing 100% of the first contract for a total value of CAD$11M. The Company expects to deliver on the CAD$5 million contract in the month of January 2022.
Aurelio Useche, CEO of Relevium stated: “We are extremely pleased to announce the delivery of medical examination gloves, which represents a major leap forward for the Company in this space.” Mr. Useche stated further, “The supply chain for critical medical products has been gaining stability since it was disrupted by the Covid-19 pandemic. This has allowed us to develop strategic sourcing partnerships for what we believe will be a stable and growing market for many years to come.”
Mark Billings, CFO of Relevium stated: “The delivery of $11 million of revenue for the first of the two contracts represents an all-time record in terms of revenues for the Company, which is expected to generate an average of 12% gross margin for both contracts.” Mr. Billings added: “On a yearly basis the delivery of this contract represents an approximately 265% increase in revenues as compared to the revenue for fiscal years ended June 30, 2018 ($4.152 million) and June 30, 2019 ($4.053 million).”
About Relevium Technologies
Relevium Technologies Inc., is a publicly traded company, focused on international procurement, logistics, and delivery of PPE into the North American marketplace. Utilizing trusted vendors and suppliers, and integrating a comprehensive, state-of-the-art supply chain, artificial intelligence, and blockchain technology, enables a highly secure and compliant platform for delivery of PPE equipment to governments, hospitals, foundations, and various institutions.
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.
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 acquisition and the terms thereof, 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 in this press release include those relating to the margin associated with the contracts, the ability of the Company to complete the delivery of PPE in January 2022 as contemplated herein and that the sourcing partnerships that have been formed will be a stable and growing market.
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 ability of the Company to successfully execute its business plans, the Company’s ability to maintain its expense, the Company’s continued response and ability to navigate the COVID-19 pandemic being consistent with or better than its ability and response to date. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com.
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 safe harbour.
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