Radient Technologies Inc.
TSX VENTURE : RTI

Radient Technologies Inc.

May 15, 2017 08:21 ET

Radient Technologies Provides Update on Exclusive Collaboration Arrangement with Aurora Cannabis

EDMONTON, ALBERTA--(Marketwired - May 15, 2017) - Radient Technologies ("Radient" or the "Company") (TSX VENTURE:RTI) is pleased to announce the completion of the second phase of its previously announced joint venture research agreement with Aurora Cannabis Inc. ("Aurora") (TSX VENTURE:ACB).

As previously announced, Radient and Aurora entered into a memorandum of understanding ("MOU") with regard to the exclusive joint development and commercialization of superior and standardized cannabinoid extracts for the Canadian market. In accordance with the MOU, the parties entered into a joint venture research agreement to confirm the effectiveness of Radient's MAP™ technology for cannabis extraction.

Results from the first phase of study which included activities at bench scale were encouraging, with the parties agreeing in February, 2017 to commence the second phase of study. The second phase of study which included preliminary scale-up activities has been completed, with third-party confirmation of analytical findings currently underway. A final report, subject to the timing of third-party confirmation, is expected by May 31, 2017.

"We are pleased to have completed this phase in our collaboration with Aurora, and taken one more step towards proving Radient's potential in the cannabis space to deliver increased production capacity, while maintaining the highest standards of product safety, quality assurance, and purity" said Denis Taschuk, CEO of Radient. "We look forward to the completion of third-party confirmations, and taking the next steps with Aurora."

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.

On behalf of the Board of Directors,

RADIENT TECHNOLOGIES INC.

Denis Taschuk Prakash Hariharan
President and CEO Chief Financial Officer

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. The forward-looking statements include statements about the Offering and the use of proceeds thereof. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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.

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