MONTREAL, QUEBEC--(Marketwired - Nov. 30, 2017) - Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the "Company" or "Relevium") is pleased to announce its unaudited financial results for the three-month period ended September 30, 2017.
This is the first reporting period that consolidates the results of the acquisition of BioGanix Ltd. ("Bioganix") (see Press Release issued on June 12, 2017) and illustrates:
- Consolidated revenues of $1.15 Million;
- Adjusted EBITDA* of $154,427 or 13% as a percentage of sales;
- Total Assets of $7.1 Million and Total Liabilities of $4.9 Million; and
- 65 million shares outstanding.
Aurelio Useche, CEO of Relevium Technologies stated: "This new fiscal year beginning July 1, 2017 will be a transformational year for Relevium. The financial statements and Management Discussion and Analysis as filed on www.sedar.com consolidate the results of BGX E-Health LLC, the wholly-owned subsidiary in the US that operates the assets of BioGanix, the recently acquired B2C nutraceutical business. Mr. Useche added: "The first three months of post-acquisition is a resource and capital-intensive period for any company. The positive EBITDA results and growing revenues indicate to us that the transition of the business has been successful."
|Adjusted EBITDA* Reconciliation||$|
|Interest on long term debt||107,617|
|Acquistions and related costs||78,137|
|*= Adjusted EBITDA is a non-IFRS financial measurement|
- The Company successfully completed the first half of its active transition period for the acquisition of BioGanix with increased revenues as compared to the same period under the previous ownership
- Launched the first stage of a project to incorporate predictive AI technology for new product selection
- Secured an exclusive partnership with Salvania Nutrition and Biodevas for the launching in 2018 of a nutraceutical and phytoceuticals product line for companion pets.
Aurelio Useche, CEO of Relevium Technologies stated: "Over the second quarter of this new, fiscal year our focus has shifted from integration to organic growth through marketing optimization, new product launches, technology integration and the establishment of key exclusive partnerships to ensure strategic differentiation in our product offering and the build-up of equity for our brands."
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.
Neither 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 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 several assumptions and is subject to several 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 because 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
RELEVIUM TECHNOLOGIES INC
+1 (514) 562-1374