On Dec. 22, 2016, Relevium Technologies Inc. (RLV:CA) executed a binding letter of intent to acquire the assets of BioGanix Ltd., 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.
Update on trading halt
Concurrent to the press release on Dec. 22, 2016, the company received instructions from the TSX Venture Exchange to halt the stock subject to the company providing documents and clarifications. Following these clarifications, the securities of Relevium Technologies will resume trading at the market opening tomorrow.
General update
The proposed acquisition of BioGanix represents a fundamental or significant transaction, and as such, it is subject to the approval by the TSX-V. The company remains engaged in the process with the exchange, and is working diligently in co-operation with the vendor and external consultants to ensure the fluidity of this transaction.
Relevium Technologies president and chief executive officer Aurelio Useche stated: “Our focus currently is to ensure a smooth transaction process so that we can the move our focus to the integration of the target business. The acquisition of BioGanix is a step in the right direction for Relevium because of the potential for continued growth in this market by leveraging its current brand equity and excellence in customer service.”
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