MONTREAL, QUEBEC–(Marketwired – Nov. 23, 2017) – Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the “Company” or “Relevium”), a publicly-traded corporation strategically focused on creating value through the acquisition and development of e-brands, online businesses and e-retail technologies in the Health and Wellness space, is pleased to announce the signing of an exclusive brand and product assignment with HempCo Canada (“HempCo”) for the Planet Hemp brand.
- Exclusive Brand and Product Assignment for the PlanetHemp brand
- Relevium will market PlanetHemp products in the US and UK
- Exclusivity for online sales through Amazon, Walmart/Jet and others
- Cooperate in developing new formulations and applications
- Initial 2-year term
Aurelio Useche, CEO of Relevium Technologies stated: “Initially announced on May 10, 2017, this Agreement has been a long time in the making.” Mr. Useche continued: “This Exclusivity Agreement could not come at a better time as people are gearing up for the Holiday Season, and the Relevium Operations Team is gearing up to help people with their post-Holiday wellness plans. Relevium is looking forward to bringing quality PlanetHemp products to the US and UK in 2018. We also look forward to developing new products with the team at HempCo, especially as the regulatory environment for certain hemp and CBD-infused products becomes more favorable.”
Relevium and HempCo have signed an Exclusive Brand and Product Assignment (the “Exclusivity Agreement“). The Exclusivity Agreement confirms that Relevium and HempCo intend to cooperate in the business development, branding, marketing and e-retailing of PlanetHemp and all the Hempco products. This includes proteins, seed, oils, natural bars, pet products and CBD-infused products currently sold by HempCo on a B2B basis and on a B2C basis, through its brand PlanetHemp. The parties have agreed to create value through exclusive e-retailing rights of PlanetHemp in the USA and UK through Amazon and its Website, as well as possible brand extension to sell in Jet, Flipkart, Alibaba and other online retail platforms such as Walmart.com and Costco.com.
Relevium will sell and introduce new products under the PlanetHemp brand for the United States (USA) and the United Kingdom (UK) as per the above list of e-retailing venues only and unless otherwise approved in writing by HempCo. Additionally, and with HempCo written permission, Relevium might introduce parallel e-commerce brands of the same products in the same territories; for the purposes of pursuing business in platforms that would complement the market strategy and spirit of cooperation in this Agreement.
New Product Lines
In the spirit of cooperation Relevium and HempCo will cooperate in the development of new products, formulations as well as new applications for the Nutrition, Nutraceutical, Fitness Nutrition and Skin-Care markets, to ensure an ongoing pipeline of new products entering the market. Relevium and HempCo respectively have the technical and marketing expertise to develop and brand the exclusive products.
Term of Exclusivity
The initial term of this Agreement shall continue in full force and effect for a period of two (2) years (the “Initial Term”). Provided Relevium has complied with all the terms and conditions and achieved the Minimum Annual Performance Requirements, this Agreement shall be automatically renewed at the end of the Initial Term or any Renewal Term, as the case may be, on the same terms and conditions as set forth herein, save and except the Minimum Annual Performance Requirements which shall be increased in accordance with the terms, for successive periods of three (3) year(s) (in each case a “Renewal Term”).
|MINIMUM ANNUAL PERFORMANCE REQUIREMENTS|
|Year||Annual Period||Dollar Amount (CAD)|
|1 UK||January 1, 2018 to December 31, 2019||$200,000|
|2 UK||January 1, 2019 to December 31, 2020||$400,000|
|1 USA||January 1, 2018 to December 31, 2019||$600,000|
|2 USA||January 1, 2019 to December 31, 2020||$1,200,000|
The parties have executed a final Agreement and will begin the process in an expeditious manner in order not to miss the post-holiday season in 2018.
About Relevium Technologies
Relevium is a TSXV-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce in the growing health and wellness sector. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
Neither 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 press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on several assumptions and is subject to several risks and uncertainties, many of which are beyond the Company's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Readers should not place undue reliance on forward-looking statements and forward-looking information and are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake any obligation to update such forward-looking information, whether because of new information, future events or otherwise, except as expressly required by applicable law.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
Aurelio Useche, President and CEO
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