Relevium receives conditional OK for BioGanix buy
2017-03-13 17:36 ET - News Release
Mr. Aurelio Useche reports
RELEVIUM RECEIVES CONDITIONAL ACCEPTANCE ON THE TRANSACTION TO ACQUIRE BIOGANIX
Relevium Technologies Inc., further to the company’s news release of Dec. 22, 2016, has received conditional acceptance from the TSX Venture Exchange regarding a binding letter of intent to acquire the assets of BioGanix Ltd. (BGL), a privately held nutraceutical company in Houston, Tex., focused on heart, brain, digestive health and joint support products sold through primarily through e-commerce platforms.
Aurelio Useche, CEO of Relevium Technologies Inc. stated, "Management is working diligently in conjunction with its agent and the target on the concurrent financing and on the documentation necessary to meet the requirements of the TSX Venture Exchange. We remained fully engaged and look forward to a smooth process."
Correction to press release
The Company would also like to issue a correction to some of the details of the financing as disclosed on the news release of February 22, 2016.
The private placement offering has an aggregate gross proceeds of up to $7.5 Million on a subscription receipts basis (the “Offering”). The private placement will be comprised of a new equity and/or debt issuance and the Company will issue up to 37,000,000 million units at a price of $0.10 per unit, with each unit being comprised of one common share and one warrant at $0.15, and not the one half warrant disclosed on the same press release.
Additionally and pursuant to the Engagement Letter with WCM Capital, the Agents shall be paid a cash commission equal to 7% of the gross proceeds raised under the Offering and shall be issued broker warrants equal in number to 7% of the gross proceeds raised, each broker warrant entitling the holder to acquire one common share at an exercise price of $0.15 per Unit for a period of two years, and not the three years as previously disclosed.
About Relevium Technologies Inc.
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, specifically under three important verticals: Pain Relief, Recovery and Performance. Relevium Technologies Inc. currently holds patented intellectual property for application of static magnetic fields on direct-to-consumer devices, which aid in decreasing pain, improving recovery time and enhancing overall physical performance.
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