Relevium Announces $1.8M Private Placement and Closing

MONTREAL, May 25, 2020 (GLOBE NEWSWIRE) — Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”) is pleased to announce today a private placement offering of up to 58,000,000 units (the “Units”) of the Company at a price of $0.035 per Unit (the “Offering”), with each Unit consisting of one share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one common share of the Company at a strike price of $0.05 for a period of two years from the date of issuance. The Warrants are subject to an acceleration feature if the volume weighted average price of the common shares trades at or above $0.075 on the TSX Venture Exchange (“TSXV”) for a period of 7 consecutive days starting from four months and a day from closing.

CLOSING OF FINANCING
The Company has received subscription agreements for a total of 51.4 million units for gross proceeds of approximately $1.8M. The Company has agreed to and may pay a finder’s fee of 10% cash and 10% broker warrants for Units sold to certain accredited investors (“Broker Warrants”). Each Broker Warrant entitles the holder to acquire one common share of the Company at a strike price of $0.05 for a period of one year from the date of issuance.

The net proceeds of the Offering will be used to fund business development as well as working capital purposes.

All securities issued pursuant to the Offering are subject to a statutory four month hold period and regulatory approval.

MINIMUM PRICE TEMPORARY RELIEF
The Offering is proceeding pursuant to an application by the Company to the TSXV for a waiver from the minimum $0.05 price for private placements pursuant to the TSXV Bulletin dated April 8, 2020 (the “Bulletin”). Under TSXV Policy 4.1 – Private Placements, the offering price for a financing involving the issuance of Listed Shares must not be less than the applicable Discounted Market Price, which includes a minimum price of $0.05. Under the current, temporary relief policy of the TSXV, the minimum offering price is revised from $0.05 to $0.01 in certain circumstances where the market price of an Issuer’s Listed Shares is not greater than $0.05.

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.

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.