Radient Technologies Announces Strategic Licensing Agreement with HighGrade Supply Ltd.
Radient signs exclusive licensing agreement and custom manufacturing agreement to bring to market HighGrade premium concentrates; Radient to launch a custom hydrocarbon extraction platform to bring premium HighGrade branded products into the medicinal and recreational cannabis space
Edmonton, Alberta--(Newsfile Corp. - May 5, 2021) - Radient Technologies Inc. (TSXV: RTI) (OTC Pink: RDDTF) ("Radient" or the "Company") is pleased to announce an exclusive licensing and extraction agreement with HighGrade Supply Ltd., ("HighGrade") to manufacture a wide range of premium concentrates for sale into both the medicinal and rapidly growing recreational cannabis markets in Canada. The agreement grants Radient the exclusive rights to the HighGrade technology, HighGrade IP, and established cannabis culture legacy brand. The HighGrade team has been innovating and perfecting cannabis processing technology in Canada for the last decade. The team has experimented with every viable extraction technology in the market and are set to release a wide range of top quality and affordable cannabis products across the country for the recreational, medical, and wholesale B2B markets.
Under the terms of the agreement, HighGrade will provide expertise, technical guidance, consultation, labour and knowledge for Radient to produce an array of pristine end products using multiple solvents with the focus but not limited to high output hydrocarbon products, minor cannabinoid isolates, and terpene distillates. HighGrade is providing RTI with a custom hydrocarbon system designed for high throughput and purity. The capacity of the HighGrade team will be 1,100 kgs of biomass daily between hydrocarbons and other solvents with room to grow as the demand in the Canadian market increases. Radient will be adding a team of trained staff with proven expertise and a wealth of knowledge of cannabis inputs and high-quality end products. The HighGrade team will bring its legacy brands into the Radient fold and will bring to market some of the highest quality cannabis 2.0 products, including:
Distillates & Isolations of:
|THCa Crystalline||Delta 8 THC||Delta 9 THC|
|Delta 10 THC||THCv||CBD|
|THCa Diamonds||BHO and PHO Vape Carts||Shatter|
|Caviar||High Terpene Full Spectrum Extract||High Cannabinoid Full Spectrum Extract|
Other Products: Tinctures, Capsules, Bath Bombs, Balms, Topicals, and others.
Radient will in turn make use of its Standard Processing and Sales Licenses with its Quality Systems to rapidly launch products while meeting all of Health Canada's requirements under the Cannabis Act and Cannabis Regulations. The focus will be for Radient to provide a wide range of affordable but top-quality cannabis products to the recreational, medicinal, and wholesale B2B markets and is expected to be made available in July 2021.
Radient anticipates products to be launched as a part of this agreement starting calendar Q3 2021 following recent completion of the provincial registration process in Alberta, Saskatchewan, British Columbia, Yukon, NWT, Nunavut, Manitoba, Ontario, and the Maritime provinces. The sales offtake through all channels is expected to be approximately 200 kg of product per month starting July 2021, growing to over 4000 kg per annum from calendar Q1 2022 onwards. Radient expects that demand for high quality premium concentrates based on hydrocarbon extracts will form a core part of the recreational Cannabis 2.0 market in Canada. This will be a highly transformative milestone for Radient as it continues to build its revenue profile and roll out innovative cannabinoid products and formulations.
Radient Technologies is an innovative science-based company that 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. Radient also has a science lab that is focused on innovation with expertise in formulations and technologies offering unique solutions in the cannabis and wellness space. Please visit www.radientinc.com for more information.
SOURCE: Radient Technologies Inc.
For further information please contact:
Radient - Investor Relations, firstname.lastname@example.org
Forward Looking Information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company's business operations. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82910