Relevium Technologies Inc. (RLV: CA) executed a binding letter of intent (LOI) 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
primarily through e-commerce platforms.
Update
on binding agreement
In order to provide comfort in terms of the time frame required
to close the proposed transaction, including compliance, approvals and
financing, the parties to the binding agreement have agreed to extend the
projected closing date until mid-March.
Relevium Technologies president and chief executive officer
Aurelio Useche stated: “Wehave all agreed that extending the time frame
for this transaction is important not only in terms of ensuring a smooth
closing process, but also in terms of making sure we have an orderly and sound
transition plan”
About
Relevium Technologies Inc.
Relevium is 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
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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