MONTRÉAL, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX-V : RLV, OTC : RLLVF, and Frankfurt : 6BX) (the “Company” or “Relevium”) announces that its annual financial statements for the year ended June 30, 2021, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings”) have not been filed by the required filing deadline of October 28, 2021 (the “Filing Deadline”).
The Annual Financial Filings were not filed before the Filing Deadline due to audit resource scheduling and availability required to complete the financial statements and disclosures. The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by January 31, 2022. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a management cease trade order (“MCTO”) imposed against the Chief Executive Officer, the Chief Financial Officer and the directors of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before January 31, 2022.
Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
About Relevium Technologies
Relevium Technologies Inc., is a publicly traded Company, focused on international procurement, logistics, and delivery of Personal Protective Equipment (“PPE”) into the North American marketplace. Utilizing trusted vendors and suppliers, and integrating a comprehensive, state-of-the-art supply chain, Artificial Intelligence (“AI”), and Blockchain technology, enables a highly secure and compliant platform for delivery of PPE equipment to Governments, Hospitals, Foundations, and various Institutions.
Biocannabix Health Corporation, a wholly owned subsidiary of Relevium Technologies Inc., is focused on Pediatric and Geriatric applications of Cannabinoid formulations, nutraceuticals, and medical food formulations. The principal business of the Company is pursuing ongoing Research and Development for the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and cannabinoid therapeutics.
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.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions, or expectations of future performance, including the timing and completion of the proposed acquisition and the terms thereof, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events, or results "may", "could", "should", "would" or "occur".
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including the assumptions that the Company will be able to satisfy the conditions to complete the proposed acquisition.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the risk that the Company is unable to satisfy the conditions of closing the proposed acquisition including receipt of all necessary regulatory approvals.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
President and CEO
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