Radient Technologies Inc. Reports Record Revenue and Record Gross Profit for the Third Quarter of Fiscal 2020 - Seite 2

• On October 22, 2019, the Company entered into a Memorandum of Understanding to form a strategic joint arrangement with The Edlong Corporation (“Edlong”) to jointly create and market CBD flavour systems and product solutions for global food, beverage and pet food industries. Edlong has over 100 years of experience as a global manufacturer, marketer and provider of technology-driven natural flavour systems, ingredients and integrated solutions for the food and beverage industry.

Increased Working Capital:

Sale-Leaseback and Equipment Financing:

• On January 14, 2020, the Company announced it had signed a Binding Letter of Intent for a Sale-Leaseback transaction in which 2238501 Alberta Ltd. would purchase from Radient the land and buildings comprising the Company’s Edmonton I, II, and III facilities for a total of $20 million. Please review the Company’s press release dated January 14, 2020 for further details of this transaction.

Up to $15.4 million in Debenture Financings: 

• On February 10, 2020, Radient announced a financing package totaling up to $15,400,000 through the issuance of up to $10.4 million unsecured convertible notes and up to $5 million of unsecured debentures. Please read the Company’s press release dated February 10, 2020 for further details of this Financing. 

Corporate Update:

Commercialization of New Cannabinoid Ingredients and Formulations:

• Leveraging its extensive natural health product formulation expertise, Radient’s product development team has created a broad range of proprietary cannabinoid-based product formulations for both medical and consumer markets. Attention has been given to the development of formulations that demonstrate evidence-backed physico-chemical stability, ensuring the highest quality and dosing consistency of final forms that will fully meet the industry’s current strict regulatory framework. Examples include: cannabis tinctures; water-soluble and water-dispersible formulations for beverage applications; solid and liquid forms suitable for a wide range of cannabis edible products; standardized powders for tablets, capsules, sachets and lozenges; formulated liquids for vaporizing devices; and various topical formulations including creams, ointments, lotions and gels. Radient will be bringing these formulations to its customers over the coming months.

Expanding Product Development at Edmonton I Facility: