Radient Technologies Inc.
TSX VENTURE : RTI

Radient Technologies Inc.

October 02, 2017 08:00 ET

Radient Technologies Inc. Completes Shares for Debt Transaction

EDMONTON, ALBERTA--(Marketwired - Oct. 2, 2017) - Radient Technologies Inc. ("Radient" or the "Corporation") (TSX VENTURE:RTI) is pleased to announce that it has completed its previously announced shares-for-debt transaction with AVAC Ltd. ("AVAC") an arm's length creditor of the Corporation.

Pursuant to the shares-for-debt transaction, Radient has issued 9,424,330 common shares to AVAC at a deemed price of $0.66 per share in settlement of an aggregate of $6,210,633 of debt (inclusive of interest).

AVAC had previously advanced Radient $4,685,000 in exchange for a royalty on Radient's future revenue. The settlement will result in the termination of AVAC's entitlement to any future royalty payments by Radient to AVAC.

AVAC Ltd. is a Canadian venture investor with over 20 years of direct investing in early stage agriculture and technology ventures. AVAC also manages an early-stage venture capital fund-of-funds investment pool and the Accelerate Fund I, an angel co-investment fund.

"We are extremely pleased that AVAC has agreed to convert its position from being a creditor to a shareholder of the Company," said Denis Taschuk, CEO. "AVAC has been an important partner for Radient over the years and we are grateful for their continued support of the Company. The completion of this transaction further strengthens the Company's balance sheet and helps positions the Company for accelerated growth in it is cannabis and RTI Health and Wellness Solutions business units."

All securities to be issued pursuant to this settlement will be subject to a 4-month hold period.

About Radient

Radient extracts natural compounds from a range of biological materials using its proprietary "MAP™" natural product extraction technology platform which provides superior customer outcomes in terms of ingredient purity, yield, and cost. From its initial 20,000 square foot manufacturing plant in Edmonton, Alberta, Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health, personal care and biofuel markets. Visit www.radientinc.com for more information..

Information set forth in this news release contains forward-looking information and statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The terms and phrases "goal", "commitment", "guidance", "expects", "would", "will", "continuing", "drive", "believes", "indicate", "look forward", "grow", "outlook", "forecasts", "intend", and similar terms and phrases are intended to identify these forward-looking statements, including but not limited to statements regarding the completion of shares for debt transaction. The Corporation cautions that all forward looking information and statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Corporation's control. Such factors include, among other things: risks and uncertainties relating to the Corporation's ability to complete the proposed shares for debt transaction. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Corporation undertakes no obligation to publicly update or revise forward-looking information.

Neither 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.

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