Relevium Technologies Inc. (TSX.V: “RLV”, OTC: “RLLVF” and
Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to
announce that its wholly-owned subsidiary in the US, BGX E-Health
LLC ( “BGX”), has secured a USD$20 Million contract to supply
critical PPE to the Canadian Health Care Market with deliveries
starting the week of September 20th and ending by the first week of
October 2020.
Compared to revenues recorded during the fiscal
year ended June 30, 2019, this initial contract is expected to
increase forecasted yearly revenues for the year ending June 30,
2021 by an estimated 660%, from CAD$4.05M in 2019 to a forecasted
CAD$30M for 2021.
INITIAL CONTRACT TO SUPPLY PPE FOR
CRITICAL NEEDS IN CANADA
The COVID-19 global pandemic has created
significant gaps in the supply of PPE and the Company, in
partnership with the H-Source platform, has developed of a
strategic supply chain that provides effective access to the
required products.
BGX E-Health, the Company’s US wellness
subsidiary has secured its first contract to supply critical PPE
(Personal Protection Equipment) to authorized medical distribution
companies located in Canada and aimed to satisfy urgent needs of
healthcare institutions across Canada. The contract requires
BGX to supply several hundred million examination gloves as well as
other critical supplies between September and early October of this
year, with a total value of this initial contract USD $20 million
or approximately CAD$26.4 million. The Company will receive full
payment in cash on delivery and the full contract value is
currently held in escrow for the benefit of BGX.
In addition to the cost of acquisition, sourcing
and logistics, the Company has entered into sales commission
agreements with several intermediaries on both, supply and sourcing
sides and will pay sales commissions of approximately 10% in cash
and 5% in share purchase warrants with a term of 12 months
and a strike price of $0.05 subject to successful execution and
delivery of the products. The price of warrants was calculated
based on closing price plus a 67% premium and the issue is subject
to the approval of the TSX Venture exchange.
The Company expects to provide more details
after the fulfillment of the full contract.
Aurelio Useche, CEO of Relevium stated “We have
been working diligently in response to the ongoing global pandemic,
to execute on the combined PPE supply strategy with our joint
venture partners H-Source Holdings. This initial Contract marks a
major milestone for both companies and validates the Joint Venture
between the companies as announced on July 13,
2020”.
BGX E-HEALTH AND H-SOURCE EXECUTE ON
STRATEGIC SOURCING JV
On July 13, 2020 the Company entered into a
joint venture and cooperation agreement with H-Source Holdings to
develop a global strategic angle for sourcing and supplying PPE.
The Company, in partnership with H-Source, has completed several
multi-channel sourcing contracts in North America and South East
Asia, to secure the supply chain strategy for the companies and
begin the delivery of the PPE in the next two weeks. The supply
chain strategy between H-Source and BGX will also ensure the
fulfillment of future contracts to be acquired over the next
several months as countries around the world prepare for a second
wave of Covid-19.
John Kupice, CEO of H-Source stated, “We are
delighted to join forces with BGX and leverage our secure platform
to ensure the safe and efficient supply of PPE for the Canadian
market. This contract validates the strength our JV and we look
forward to build a combined strategy for further developing the
global market for PPE”
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 StatementsThis 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 UsechePresident and CEO
For more information about this press release: Tel:
+1.888.528.8687RELEVIUM TECHNOLOGIES INCEmail:
investors@releviumcorp.comWebsite: www.releviumtechnologies.comLike
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