MONTREAL, Oct. 01, 2021 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to announce that it has completed its previously announced shares-for-debt settlements pursuant to which the Company has settled an aggregate of $2,434,439.16 of debt with certain holders of outstanding notes through the issuance of a total of 121,721,958 common shares in the capital stock of the Company at a deemed price of $0.02 per share (the “Shares-for-Debt Settlements”).
All of the shares issued pursuant to the Shares-for-Debt Settlements are subject to a hold period of four months and one day from the date of issuance.
The pricing of the common shares issued pursuant to the Shares-for-Debt Settlements is in reliance of the temporary relief measures established by the TSX Venture Exchange on April 8, 2020 (and extended on September 16, 2020, December 15, 2020 and June 17, 2021), providing for temporary relief measures to its Policy 4.3, lowering the minimum pricing from $0.05 to $0.01 per share for shares issued pursuant to a debt settlement where the market price of an issuer’s shares is not greater than $0.05.
Disclosure Required by NI 62-103
This portion of the press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of an Early Warning Report regarding the acquisition of common shares in the capital stock of Relevium by AIP Convertible Private Debt Fund L.P. and AIP Private Capital Inc. (collectively, “AIP”).
AIP were participants in the Shares-for-Debt Settlements pursuant to which AIP acquired a total of 65,405,520 common shares in the capital stock of the Company at a deemed price of $0.02 per share in settlement of an aggregate of $1,308,110.40 of debt.
Immediately prior to the closing of the Shares-for-Debt Settlements, AIP held a total of 460,000 common shares, representing approximately 0.22% of the Company’s issued and outstanding common Shares. Immediately following the Shares-for-Debt Settlements, AIP hold a total of 65,856,520 common shares, representing approximately 19.99% of the Company’s issued and outstanding common shares.
AIP participated in the Shares-for-Debt Settlements in the ordinary course of business, and the acquisition of the common shares was made for investment purposes. Depending on various factors, including, without limitation, the Company’s financial position, the price levels for the Company’s common shares, conditions in the securities markets and general economic and industry conditions, the Company’s business or financial prospects and other factors and conditions that AIP deem appropriate, AIP may increase or decrease their beneficial ownership of common shares or other securities of the Company, whether in the open market, by privately negotiated agreement or otherwise.
A copy of the early warning report filed in accordance with applicable securities laws by AIP in connection with the Shares-for-Debt Settlements will be available on the Company’s issuer profile on SEDAR at www.sedar.com. The Company’s head office is at 1000 Sherbrooke Street West, Suite 2700, Montreal, Quebec, H2A 3G4. AIP are located at Royal Bank Plaza, South Tower, 200 Bay Street, Suite 3240, Toronto, Ontario, M5J 2J2.
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 in various segments including health, wellness, cannabinoid research and PPE business.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
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RELEVIUM TECHNOLOGIES INC.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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