Edmonton, Alberta – (Newsfile Corp. – February 18, 2021) – Radiant Technologies inc. (TSXV: RTI) (OTCQX: RDDTF) (“Radient” or the “Company”), a manufacturer of high quality cannabinoid formulations and products, announces that it has entered into a series of actions for debt agreements with various creditors for up to $ 6 million at an assumed value of $ 0.11 per share. This includes $ 2.2 million in debt conversion guaranteed by Akaura Holdings and an additional $ 1 million in debt-to-equity conversion by Fillmore Construction Management. This is part of the growing faith and confidence in Radient’s business prospects in 2021 and the steps initiated by new management to transform the business into positive operating cash flow in 2021. It is also an integral part of the management strategy to -use Radient’s balance sheet to position Radient to execute and achieve its business plans. Management is committed to achieving this goal through an increase in sales revenue expected in 2021 resulting from sales of Radient products and growing demand for Cannabis 2.0 products.
Radient will provide a business update shortly and the closing of its private placement announced on January 20, 2021, as well as an update on its business activities and plans for 2021.
All securities issued in connection with the placement are subject to a holding period expiring on June 17, 2021. Closing of the Offering remains subject to receipt of all necessary regulatory approvals, including final approval from the TSX Venture Exchange.
Granting of options
The Company would also like to announce that it has granted a total of 9.9 million incentive stock options at an exercise price of $ 0.15 per share to certain of its directors, officers and members of the Company. the management team, including the CEO. All shares issued upon exercise of his stock options will be subject to a four-month hold period from the date of grant. Grants of stock options are subject to acceptance by the TSX Venture Exchange.
Radient Technologies is an innovative scientific company that is a commercial manufacturer of high quality cannabinoid formulations, ingredients and products. Using a proprietary extraction and downstream processing platform that recovers up to 99% of the cannabinoids from the cannabis plant, Radient develops specialized products and ingredients that contain a wide range of cannabinoid and terpene profiles. while respecting the highest quality and safety standards. Radient also has an innovation-driven science lab with expertise in formulations and technologies offering unique solutions in the field of cannabis and wellness. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
For more information, please contact:
Radient – Investor Relations, [email protected]
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “planned”, “Estimates”, “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results ” could ”,“ could ”,“ could ”,“ could ”or“ will be taken ”,“ occur ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Radient’s actual results, level of activity, performance or achievements, as the case may be, to differ materially. those expressed or implied by this forward-looking information. Although Radient has attempted to identify material factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or expected. . There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Radient does not undertake to update forward-looking information except in accordance with applicable securities laws.
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