Radient Technologies Inc. Announces Receipt of Sales License, Launch of 2.0 Product Offerings And Supply Agreement with Premium 5 Ltd.
EDMONTON, Alberta, June 30, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a manufacturer of
high quality cannabinoid-based formulations and products, has received a Health Canada license amendment for the sale of cannabis extracts, cannabis edibles and cannabis topicals. This
license, which allows for the sale of all three categories of extracted products, is a significant milestone in commercializing the Company’s product offerings and launching its 2.0 product
portfolio. Radient is also pleased to announce that it has entered into a manufacturing and service agreement with Premium 5 Ltd. (“P5”) for multiple products under its brand of premium
“Receiving this license amendment is a critical step in diversifying and evolving Radient’s business model through new products and customers,” said Denis Taschuk, Chief Executive Officer, Radient Technologies. “The sales license will give Radient the ability to leverage our unique formulations for exciting new consumer products.”
In anticipation of receiving its sales license, Radient has started the process of increasing its product manufacturing and filling capabilities. The Company will have substantial capacity for white label production of unique 2.0 products that uses its extensive formulation library. Radient believes this will be a significant advantage in signing further manufacturing agreements and capturing new revenue opportunities. Over the coming month, Radient looks forward to updating stakeholders and customers on innovative offerings.
The partnership with P5, Canada’s preeminent concentrate supplier, will involve multiple new product lines, bringing P5 concentrates to market with final manufacturing completed by Radient. Under the renewable one-year agreement, Radient will supply distillate, and provide manufacturing services for a minimum of 240,000 units. The first products planned will be a live resin vape cartridge, along with a live resin X cartridge that will be blended with Radient’s THC distillate.
Premium 5 is Canada’s leader in bringing quality concentrate products and curated devices to market. P5 launched the first live resin concentrates in the country and has quickly become synonymous with the highest levels of quality and cutting-edge products.
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.