Edmonton, Alberta – (Newsfile Corp. – January 5, 2022) – Radient Technologies Inc. (TSXV: RTI) (“Radient” or the “Company”), a commercial manufacturer of various novel, high quality cannabis extracts and packaged products entered into a partnership agreement with All Good Collective Corp. (“All Good”) to manufacture unique cannabis pre-roll products and announce an update to shareholders.
Cannabis pre-roll production
Radient has entered into an agreement with All Good for the development and delivery of a modular assembly and packaging system for the manufacture of cannabis pre-roll products. The facility will operate on Radient’s existing Edmonton II licensed facility and phase one of the installation has already begun. All Good has designed the facility to increase production capacity to at least 10 million cannabis pre-roll units (1 million packs) per month once the full modular expansion is achieved, and All Good has already supplied the necessary equipment ensure full expansion.
Radient now plans to manufacture cannabis pre-roll products and sell them to licensed retailers in Canada. Pre-roll design parameters include a cigarette-style cylinder format and artisanal, terpene-rich, THC-rich, non-irradiated cannabis. Pre-roll units are packed in a high-quality, moisture-proof 10-unit box and marketed to discerning cannabis consumers.
The pre-roll manufacturing facility is expected to be staffed by the end of January 2022, after which time initial pre-roll production and sales to licensed retailers will begin.
Harry Kaura, CEO of Radient, informs shareholders about the following update:
Our team has worked diligently this year to restructure Radient and form new partnerships and develop new business areas to plan our new path forward. In February 2021, I agreed to lead these restructuring initiatives as CEO of Radient, which was also a sign of my continued confidence in Radient’s ability to be a major player in the cannabis industry. As the New Year begins, I would like to highlight our key achievements of 2021 that we believe will be instrumental in Radient’s success:
The story goes on
Received a Dried Cannabis Sales License and a Medicinal Use License from Health Canada that will allow Radient to now offer a full range of cannabis products,
Licensing and extraction agreement with HighGrade Supply for high quality Cannabis 2.0 products, which are expected to be available in retail stores in January 2022,
License agreement with Atomic Eh! To build a cannabis brand and products that are now being launched in six provinces and will soon be launching several new SKUs in the Pre-Roll and Dried Flower categories,
License agreement to jointly develop and sell premium cannabis products under the Tunaaaaroom Xtracts brand, now sold through provincially licensed retailers in seven Canadian provinces and territories,
Definitive agreement to acquire Tunaaaaroom Xtracts Inc., expected to close shortly,
Equity funding raised a total of $ 2.7 million in March and December 2021, and
Agreement with All Good to manufacture pre-roll products as announced today.
The Radient board of directors, the management team, the new partners and I remain energetic in our efforts to make Radient a success and increase shareholder value. We thank you for your continued support in our efforts to do this.
Radient Technologies is a commercial manufacturer of a wide variety of novel, high quality cannabis extracts and packaged products. Radient develops specialty products and ingredients that contain a wide range of cannabinoid and terpene profiles while meeting the highest quality and safety standards. Radient focuses on innovation with expertise in formulations and technologies that provide unique solutions in the cannabis and wellness space. RadionInc.com
Harry Kaura, CEO & Director
Tel: 780 465 1318
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements about the Company’s ability to install, occupy and scale the proposed cannabis product manufacturing facility, and to produce, package, market and sell within the timeframes set forth herein, the ability of the Company to provide high quality Cannabis 2.0 products in retail stores and new SKUs in the Pre-Roll and Dried Flower categories within the deadlines set out here, the implications of the partnership agreement with All Good, the Company’s ability to complete the acquisition of Tunaaaaroom Xtracts Inc. and the expected timing of the closing, as well as the business operations and future performance of the company. In general, forward-looking information can be identified by the use of forward-looking terminology such as “plan,” “expected,” “does not expect,” “is expected,” “budget,” “planned,” “estimates,” “projected,” “intends,” ” anticipates “or” does not expect “or” believes “or variations of such words and expressions, or indicates that certain acts, events or results” might “,” could “,” would “,” could “or” are taken “,” enter ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to differ materially from those expressed or expressed in such Implications are forward-looking information including, but not limited to: general business, economic, competitive, geopolitical, and social uncertainties; Risks related to operations in the cannabis sector; and other risks inherent in the cannabis industry. While Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, other factors could cause results not to be as expected, estimated or intended. There can be no assurance that this 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 undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.
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