EDMONTON, Alberta, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (Radient or the Company) (TSX Venture: RTI; OTCQX: RDDTF), is pleased to announce a licensing agreement with Dreamy Co., (Dreamy) to bring in Dreamy CBD products under Radients platform to Canada and extend it to other international markets. Initially founded in the US, Dreamy has developed a lifestyle brand over the past decade focused on the Health and Wellness space before branching into the CBD vertical. Dreamy is focused on creating and inspiring people to use plant medicine and holistic healing in place of conventional pharmaceutical solutions. In the US, Dreamy CBD enjoys a strong presence in California, and the Dreamy brand has a strong association with a positive lifestyle in the rapidly growing Wellness space. The Dreamy CBD products comprise CBD tinctures, CBD distillates, CBD edibles, CBD cosmetics, and CBD Vape Cartridges geared towards the recreational and medical cannabis market.
Under this partnership, Radient will have exclusive rights to the licenses and trademarks for Dreamy CBD brands and will collaborate jointly with Dreamy to produce their CBD products and launch their brands in Canada. Radient will be involved in providing the processing facilities in Edmonton and the necessary infrastructure to extract CBD products for Dreamy CBD. In addition, through its Sales License and associated registrations in the provinces, Radient will look to build the Dreamy CBD product portfolio in Canada. On the international front, Radient will produce their CBD based products for markets in Thailand and Japan that are witnessing a strong surge in CBD products consumption, especially in the Wellness space. This will be after completing a comprehensive review of the trade requirements with local partners in these jurisdictions. The partnership is being set initially for a two-year term with an annual renewable option, with Radient reserving the right of first refusal to acquire Dreamy.
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.
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 Companys 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.
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