MONTREAL, May 30, 2019 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V:“RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce that its wholly owned subsidiary Biocannabix Health Corporation Inc., has completed necessary compliance process and obligations for the acquisition for exclusive licensing with cannabis company Cannakids®.
The Company’s Pediatric Cannabinoid Strategy
Biocannabix Health Corporation, a wholly-owned subsidiary of Relevium is focusing on delivering all the potential health benefits of cannabinoid formulations in full compliance of the legal and regulatory framework to Pediatric patients in Canada. The company will focus initially on nutraceutical formulations aimed at behavioral and developmental conditions including ADHD and Hyperactivity amongst others. The Company’s initial focus will be on education, compliance, branding and developing a fully auditable supply chain of Cannakids products nationwide.
Aurelio Useche, CEO stated: “According to Tecnavio2018, the global pediatric market for medicines will reach 121 billion by 2021 and we intend to lead the way in Endo-Medicinal Nutraceuticals.” Mr. Useche stated further: “We are delighted to have completed this lengthy process and very keen to start working towards building the pathway to the full commercialization of Pediatric Endo-Medicinal Nutraceuticals in partnership with Cannakids®.”
Biocannabix and the Exclusive Cannakids® License
On December 13, 2019 the Company announced it had renegotiated and restructured the original investment transaction in favour of an exclusive license of intellectual property, including formulations, SOPs and patient data for pediatric applications for the Canadian market. Under the exclusive licence agreement, Relevium has made an initial investment of CAD$1.3 Million through the issue of 11,911,111 shares and CAD$200,000 in cash.
The licensing agreement between Biocannabix and Cannakids® grants the exclusive Canadian rights to the CannaKids IP including formulations, SOPs, dosing, titration and patient data with a Royalty on sales of 13%.
Tracy Ryan, CEO of Cannakids®, stated: “The Cannakids team is ecstatic to now be extending our reach into Canada. It has always been our goal to help patients on a global scale, and we are proud to have Relevium as our Canadian partner to help us take that next step in making our dreams a reality. We look forward to helping Canadians find holistic relief from their ailments, all while working towards expanding our research to patients both, young and old.”
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 operations 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 such as 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.