20M shares at 50 cents a share! MONTREAL, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB:“RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce On October 25, 2019, the Company received a letter of intent (the “LOI”) to roll its interest in its wholly owned subsidiary BGX e-Health LLC into Newscope Capital Corporation (“Newscope”), a BC based privately held company seeking to become an aggregator in the wellness space, including CBD and hemp space.
Under the preliminary terms of the LOI, Relevium with is expected to receive 20 Million shares of Newscope at $0.50 per share, representing approximately 86% of the resulting issuer. The total proposed transaction value is CAD$10 Million, which includes the business, its assets and liabilities, intellectual property and certain key agreements currently under consideration and review by management.
Newscope intends to complete a listing on the CSE before the second quarter of 2020.
Aurelio Useche, CEO of Relevium Technologies stated: “RLV’s valuation today is not representative of the sum of all its components. We have been working diligently to unlock the embedded value of each of our individual businesses, which will provide shareholders with the true value that each business unit has to offer.” Mr. Useche stated further: “The proposed transaction with Newscope is the first step in further unlocking the value of RLV’s components and we are looking forward to working with them to execute the acquisition strategy, growing sales, expanding product offerings and increasing the company’s global footprint.”
The LOI is subject to customary conditions associated with such a transaction including due diligence as well as internal, external compliance reviews and shareholder approval. Additional information about the board, management and pertinent transaction details including post transaction details will be provided in a subsequent news release.
CONFERENCE CALL WITH CEO
We are delighted to announce a conference call with Aurelio Useche, CEO of Relevium Technologies, to discuss the company’s results for the fiscal year ended June 30, 2019 and to discuss the company’s progress and plans for 2020.
The conference call will take place this Friday November 1, 2019 at 4:00pm (16:00) via our conference portal. You must pre-register to attend this call. Please use this link to register your attendance: https://zoom.us/meeting/register/6d084fc83a0b7f6dd746f627e8486654