MONTREAL, QUEBEC--(Marketwired - Sept. 7, 2017) - Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the "Company" or "Relevium"), a publicly traded corporation strategically focused on the acquisition and building of e-retail brands, products and technologies in the health and wellness market, is pleased to announce the kickoff of its maiden technology build.
- RLV executes on initial tech guidance
- RLV kick starts maiden technology build
- RLV engages Montreal based leader agileDSS as Data Architect
- RLV takes initial step for building use case for Consumer Trend Recommendation Engine
Following the initial 90 days since the acquisition of BioGanix Ltd., management and the operations team have jointly identified a multitude of areas of the business that can be optimized and automated with technology. These areas include developing new products, dynamic pricing of products, logistics and supply chain management.
Following the Guidance on Technology issued in the August 2, 2017 news release, the Company is pleased to announce the activation of the first technology build that seeks to optimize the product development cycle. At the moment, the product development cycle is heavily reliant on human interpretations of vast amounts of data to decide what products to launch and where to launch them. The Company believes that the most interesting risk-reward profile for a technology investment, at this stage, is to build a recommendation engine that is designed to offer quantitative methodology to launch profitable products ahead of trends in the appropriate jurisdictions.
Relevium Technologies has engaged agileDSS, a leading strategic data services consulting firm headquartered in Montreal, Quebec, Canada that specializes in business and data intelligence to build the use case for the Product Trend Recommendation Engine and confirm the commercial viability of the project
Aurelio Useche, President and CEO of Relevium Technologies stated: "The Company is focused on executing the strategy laid out in the August 2, 2017 news release and the initiation of this tech build is the first box management can check off of strategic objectives before calendar year end." Mr. Useche continued: "Montreal is fast becoming a global hub for data analytics and artificial intelligence as demonstrated by recent investments made by Google, Microsoft and the Element AI record setting Series A round. We intend on leveraging all of the local resources and talent we can in order to create shareholder value while operating highly profitable businesses in our portfolio brands. The way we see it, with a reasonable investment, the Relevium brands can gain the upper hand, perhaps even months of sales momentum in products or locations that are or will become trending. If we draw a parallel to the financial industry, we believe that e-commerce is where the financial industry was before high frequency trading and that Relevium has the opportunity to be a pioneer and a leader in the industry the same way Virtu Financial, Renaissance Technologies and many others were in the financial markets."
About Relevium Technologies
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. Relevium Technologies Inc. also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.
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Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Readers should not place undue reliance on forward- looking statements and forward-looking information and are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
Aurelio Useche, President and CEO
Renmark Financial Communications Inc.
(416) 644-2020 or (514) 939-3989