MONTREAL, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Relevium Technologies Inc. (TSX.V: “RLV”, OTCQB: “RLLVF” and Frankfurt: “6BX”) (the “Company” or “Relevium”), is pleased to announce that the company hit a record high in monthly sales in the month of July 2019 for its Bioganix® branded OTC business. The Company’s revenues for the month increased by 46% from the previous month, by 28% from same month last year and by 34% from the average monthly revenues since 2017.
“This record high in monthly sales was driven primarily by higher customer subscriptions, awareness optimization in the UK and the successful and recent launch of PushPullSystemTM, CardiaPro® and VisionPro®, a new series of high-end wellness products.” stated Abis Hussain, Chief Marketing Officer at Relevium.
CardiaPro® and VisionPro® The Company launched two exclusive, evidence-based formulations of Provinal® Omega 7 targeting heart health and vision care earlier last month and the products continue to gain initial acceptance by existing and new customers of the Bioganix® brand.
CardioPro® with Provinal® has been clinically proven to support healthy LDL and HDL cholesterol, triglyceride, and C-reactive protein (CRP) levels, four main biomarkers of heart.
VisionPro® is a complete eye health formulation that targets Dry Eye Relief and blue light protection while supporting overall vision health. Both products are expected to become available in Canada and the UK by the second fiscal quarter of this year.
Push and Pull SystemTM Launched in beta testing during the last quarter and aimed at the Hispanic market in the US, the Push and Pull anti-aging system has performed well in DTR and is gaining momentum through social media marketing. The Company will continue to test distribution channels and to optimize its online presence and social media outreach over the next quarter when additional products are expected to be added to the current offering. Additionally, the Company is expected to launch the product to all US consumers by launching its English presence on the web and on social media.
Update on Hemp Derived Products In the US and Europe, the health agencies have yet to develop a clear framework for the sale of CBD products. In the US, the FDA has prohibited the sale of CBD in supplements until it declares its final position on the safety status of the cannabinoid as an ingredient.
“The Company expects the current sales growth to continue to trend upwards in the OTC business, but management is taking a responsible approach in waiting for the final position by the FDA on the use of CBD on supplements and skin care. We are ready with a complete new line of exclusive nutraceuticals under its Bioganix® brand and under LeefyLyfe which will comprise of high-end organic broad spectrum hemp products and superfoods.” stated Aurelio Useche, CEO at Relevium.
About Relevium Technologies Relevium is a publicly-traded company that operates in the health and wellness industry, including legal cannabis, with a primary focus on online distribution. The principal business of the Company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets and medical cannabis. The Company pursues its business strategy through an acquisition and partnership model in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly owned subsidiaries:
BGX E-Health LLC (BGX), based in Orlando, Florida, markets dietary supplements, nutraceuticals, sports nutrition and cosmeceuticals primarily through its Bioganix® brand portfolio in the US and Europe. Relevium’s premium brands are sold at some of the world’s largest retailers including Walmart.com and Amazon.com.
Biocannabix Health Corporation (BCX), based in Montreal, Quebec, is a biopharma nutraceutical company focused on delivering pediatric endo-medicinal nutraceuticals for cannabinoid therapy.
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 and United States 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, 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", or "would" 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. 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.
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 to rely on the applicable safe harbor.
On Behalf of the Board of Directors
RELEVIUM TECHNOLOGIES INC.
Aurelio Useche President and CEO