MONTREAL, July 13, 2020 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V: “RLV”, OTC: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to announce it has entered into a Letter of Intent (“LOI”) with H-Source Holdings, a leading secure and trusted Personal Protective Equipment (“PPE”) platform, to partner in the development, strategic sourcing and supply of global PPE requirements due to COVID-19
BACKGROUND
On March 2020, the World Health Organization declared a global pandemic and as nations around the world began to deal with the outbreak of COVID-19, the market for PPE products and supplies saw a huge surge in demand that created major gaps and inefficiencies in the supply chain.
As Relevium was introducing its first line of defense Bioganix CleanCare, the entire market of PPE was faced with major supply chain issues, lack of raw materials, non-compliant or defective products and price gauging.
In May 2020 Relevium and H-Source begun discussions about collaborating with the proprietary HS1 platform to make accessible not only the CleanCare line of products but also the core line of wellness products. HS1 is a fully secured and auditable platform that connects buyers and suppliers in a secured, compliant, and transparent manner. The platform is registered and approved in over 35 States in the USA, as well as Canada, and Europe, and partners with EY (formerly Ernst & Young) to deploy the platform.
STRATEGIC PARTNERSHIP
Relevium and H-Source will be cooperating to list the Company’s needs and offerings and recruiting its newly developed network of PPE vendors and buyers onto the platform. Relevium’s new business, Bioganix CleanCare is now poised to expand its current and rapidly growing product offering through the H-Source platform thus globalizing the current footprint of the Company.
Both companies have expressed their intention, in the LOI, to exchange equity and share resources to solidify the partnership.
John Kupice, CEO of H-Source stated, “We are excited to partner with Aurelio and Relevium addiing Bioganix and their other innovative products to the HS1 Global Virtual Purchasing Organization Platform. Jointly we will service current PPE needs as well as enable new efficient post COVID-19 supply chain processes and distribution models.”
Aurelio Useche, CEO of Relevium Technologies stated: “We are extremely pleased to partner with John and his team to develop and master the global supply chain of personal protection products not only during this pandemic, but also to service the New Economic standard of supplying services to consumers. We look forward to a mutually rewarding and profitable cooperation.”
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.
About H-Source Holdings Ltd.
H-Source Holdings Ltd. is a technology company operating within the healthcare industry through its wholly owned subsidiaries, H-Source, Inc. and H-Source Distribution, Inc. The Company has developed a private, secure, and trusted transaction platform that allows member medical facilities including hospitals and ASC's (Ambulatory Surgery Centers) to buy, sell, track, and transfer medical devices and supplies, pharmaceuticals, and capital equipment with each other. Member medical facilities can conduct secure transactions within their private groups or global platform members. This marketplace network is specifically designed to reduce health care costs and medical product waste, increase cost recovery, and enable supply chain transformation and efficiency.
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 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.
Aurelio Useche
President and CEO
For more information about this press release: Tel: +1.888.528.8687
RELEVIUM TECHNOLOGIES INC
Email: investors@releviumcorp.com
Website: www.releviumtechnologies.com
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