EDMONTON, Alberta, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or
the “Company”) (TSX Venture: RTI) today announces that all resolutions were passed by the requisite majority at
its annual general meeting (“AGM”) held in Edmonton, Alberta, on November 7, 2018.
At the AGM, shareholders voted in favor of setting the number of directors at ten (10) and the following
incumbent directors were re-elected: Denis Taschuk, Mike Cabigon, Harry Kaura, Steven Dauphin, Francesco Ferlaino, Dimitris Tzanis,
Jith Veeravalli, Jan Petzel, Steven Splinter and Terry Booth. Further, shareholders approved the Company’s stock option plan and
approved the re-appointment of Grant Thornton LLP as auditors of the Company for the ensuing year.
Following the AGM, the board of directors of Radient re-appointed Denis Taschuk as CEO and President, Prakash
Hariharan as CFO, and Mike Cabigon as COO.
A total of 59,732,647 common shares were represented at the AGM, representing 22.95% of the issued and
outstanding Radient common shares. Radient would like to thank its shareholders for their participation and continued support.
Shares for Debt Transaction
Subsequent to the Company’s proposed shares-for-debt transaction announcement dated October 29, 2018, the TSXV
has accepted the Company’s proposal to issue 35, 236 common shares at a price of $0.93 per share to an arm’s length third party
creditor of the Company, to settle outstanding debt of US $25,000.
About Radient
Radient extracts natural compounds from a range of biological materials using microwave assisted processing (“MAP™”), a patented
technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its 23,000
square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical,
food, beverage, natural health, and personal care markets. Since 2016, Radient has expanded its offerings to enter the cannabinoids
market utilizing its MAP™ platform to process and extract cannabinoids including cannabidiol and tetrahydrocannabinol from cannabis
biomass. Visit www.radientinc.com?for more information.
SOURCE: Radient Technologies Inc.
Denis Taschuk, Chief Executive Officer, dtaschuk@radientinc.com,
(780) 465-1318;
Mike Cabigon, Chief Operating Officer, mcabigon@radientinc.com,
(780) 465-1318
Caitlin Cheadle, Investor Relations, ccheadle@radientinc.com
Forward Looking Information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the
Company’s ability to grow its business in the cannabis sector and the Company’s future plans. Generally, forward-looking
information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be
materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to
identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Radient does
not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
