Radient Technologies Inc.: Radient Technologies Announces Shares for Debt Arrangements and Grants Stock Options
Radient Technologies Inc. (
TSXV: RTI) (OTCQX: RDDTF) ( Radient or the Company ), a manufacturer of high quality cannabinoid based formulations and products, announces that it has entered into a series of shares for debt arrangements with various creditors for up to $6M at a deemed value of $0.11 per share. This includes $2.2M of conversion of secured debt from Akaura Holdings and an additional $1M of conversion of indebtedness into shares by Fillmore Construction Management. This is a part of the growing faith and confidence in the business prospects for Radient in 2021 and steps initiated by the new management to turn the business into a positive operating cash flow in 2021. It also forms a core part of the management strategy to de-lever Radient s balance sheet to position Radient to execute and deliver on its business plans. The management is committed to achievin
Radient Technologies Inc. Provides a Corporate Update and Announces Management Changes
Radient Technologies Inc. (
TSXV: RTI) (
OTCQX: RDDTF) ( Radient or the Company ), a manufacturer of high-quality cannabis based formulations and products is pleased to provide a corporate update on its business activities and plans for 2021.
Business Developments
Radient has successfully launched a wide range of Cannabis 2.0 products in Canada utilizing its Sales License in the provinces of Alberta, BC, Manitoba and Saskatchewan and is poised to complete additional product registrations for the provinces of Ontario and Quebec in calendar Q1 2021. This is a part of a broad strategy to launch Radient branded products in the growing recreational market for cannabis products in Canada.
Radient Technologies Inc.: Radient Technologies Announces Shares for Debt Arrangements
Radient Technologies Inc. (
TSXV: RTI) (
OTCQX: RDDTF) ( Radient or the Company ), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, announces that it has entered into a series of shares for debt agreements with various of its creditors under the terms and conditions noted below.
The Company has issued 14,352,161 common shares to third-party creditors in exchange for the settlement of $1,435,216 owed by the Company to such creditors. The Radient shares issued under this agreement have a deemed value of $0.10 per share.
Additionally, the Company has issued 651,233 common shares to a director in exchange for the settlement of $65,123 owed by the Company to the individual. The Radient shares issued under these agreements have a deemed value of $0.10 per share.