Radient Technologies Inc. and Fluum Inc. Enter Into Multi-Year White Label Deal
EDMONTON, Alberta, July 27, 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, is pleased to announce a five year white-label agreement with Fluum Inc. (“Fluum”), to launch a line of cannabis vape products designed to
deliver enhanced experiences at a competitive price. Radient will provide a full suite of services; using its proprietary extraction technology to provide cannabis extracts, along with
filling, packaging, and sales distribution. Led by cannabis industry veterans, Fluum will be responsible for design, marketing and driving consumer awareness.
Under the terms of the five-year agreement, Radient will manufacture a minimum of 210,000 units in the first year, growing to a minimum of 240,000 units in each subsequent year, subject to orders from provincial distributors. Through its relationships with established cannabis retailers, Fluum has already secured letters of intent from a multi-province retail group and a Saskatchewan distributor, together representing nearly 50 retail locations in 4 provinces to purchase products once they become available. Radient holds all necessary licensing and is currently expanding its vape filling line. First sales of Fluum branded products are anticipated in Q4 of 2020.
"Our mission at Fluum is to help develop innovative, reliable, and cost effective cannabis products that enhance the wellbeing of the cannabis user," said Adam Flook, President of Fluum. "I have spent the past six years working with cannabis retailers in both Canada and the US, watching the evolution of products and consumer preferences. We have been impressed by Radient's ability to produce high quality extracts and the level of consistency, which made them a natural choice as a partner."
“Radient is excited to be partnering with a group of highly experienced cannabis entrepreneurs in our first white label agreement for vape products,” said Denis Taschuk, CEO of Radient. “The Fluum team has invested the time to understand consumer preferences, collect feedback from retailers, and has had the benefit of monitoring the sales and quality of current offerings. We will be bringing together Fluum’s vision and knowledge with Radient’s high quality extracts to create an exceptional line of products.”
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