SIGN EXCLUSIVE PRODUCT AGREEMENT FOR PLANETHEMP
Relevium Technologies Inc. (RLV.V) has signed an exclusive brand and product assignment with HempCo Canada for the Planet Hemp brand.
- Exclusive brand and product assignment for the Planet Hemp brand;
- Relevium will market Planet Hemp products in the United States and the United Kingdom;
- Exclusivity for on-line sales through Amazon, Walmart/Jet and others;
- Co-operate in developing new formulations and applications;
- Initial two-year term.
Aurelio Useche, chief executive officer of Relevium Technologies, stated, "Initially announced on May 10, 2017, this agreement has been a long time in the making." Mr. Useche continued: "This exclusivity agreement could not come at a better time as people are gearing up for the holiday season and the Relevium operations team is gearing up to help people with their postholiday wellness plans. Relevium is looking forward to bringing quality Planet Hemp products to the United States and the United Kingdom in 2018. We also look forward to developing new products with the team at HempCo, especially as the regulatory environment for certain hemp and cannabidiol-infused products becomes more favourable."
Relevium and HempCo have signed an exclusive brand and product assignment. The exclusivity agreement confirms that Relevium and HempCo intend to co-operate in the business development, branding, marketing and e-retailing of Planet Hemp and all the Hempco products. This includes proteins, seed, oils, natural bars, pet products and cannabidiol-infused products currently sold by HempCo on a business-to-business (B2B) basis and on a business-to-consumer (B2C) basis, through its brand Planet Hemp. The parties have agreed to create value through exclusive e-retailing rights of Planet Hemp in the United States and the United Kingdom through Amazon and its website, as well as possible brand extension to sell in Jet, Flipkart, Alibaba and other on-line retail platforms such as the Walmart and Costco websites.
Relevium will sell and introduce new products under the Planet Hemp brand for the United States and the United Kingdom as per the aforementioned list of e-retailing venues only and unless otherwise approved in writing by HempCo. Additionally, and with HempCo written permission, Relevium might introduce parallel e-commerce brands of the same products in the same territories for the purposes of pursuing business in platforms that would complement the market strategy and spirit of co-operation in this agreement.
New product lines
In the spirit of co-operation, Relevium and HempCo will co-operate in the development of new products, formulations as well as new applications for the nutrition, nutraceutical, fitness nutrition and skin care markets to ensure a continuing pipeline of new products entering the market. Relevium and HempCo respectively have the technical and marketing expertise to develop and brand the exclusive products.
Term of exclusivity
The initial term of this agreement shall continue in full force and effect for a period of two years. Provided Relevium has complied with all the terms and conditions and achieved the minimum annual performance requirements, this agreement shall be automatically renewed at the end of the initial term or any renewal term, as the case may be, on the same terms and conditions as set forth herein, save and except the minimum annual performance requirements, which shall be increased in accordance with the terms, for successive periods of three years.
MINIMUM ANNUAL PERFORMANCE REQUIREMENTS Year Annual period Dollar amount 1 UK Jan. 1, 2018, to Dec. 31, 2019 $200,000 2 UK Jan. 1, 2019, to Dec. 31, 2020 $400,000 1 USA Jan. 1, 2018, to Dec. 31, 2019 $600,000 2 USA Jan. 1, 2019, to Dec. 31, 2020 $1,200,000 ---------- Total $2,400,000 ----------
The parties have executed a final agreement and will begin the process in an expeditious manner in order not to miss the postholiday season in 2018.
About Relevium Technologies Inc.
Relevium is a TSX Venture Exchange-listed company focused on growth through the acquisition of businesses, products and/or technologies with a focus on e-commerce in the growing health and wellness sector. Relevium Technologies also holds patented intellectual property for the use of static magnetic fields for application on wearable devices.