VANCOUVER, BC - TheNewswire - APRIL 13, 2021 - AREV NANOTEC BRANDS INC. (CSE:AREV) (CNSX:AREV.CN) (OTC:AREVF) (“AREV” or “the Company”) is pleased to announce that on March 31, 2021, the Company signed, a Collaboration and Exclusivity Agreement (“the Collaboration Agreement”) with one of the world’s leading hemp-derived cannabinoid product developers and producers (“Collaboration Co”). Under the Collaboration Agreement, Collaboration Co. will be AREV’s exclusive supplier for bulk cannabinoid materials used in AREV products exported to the United Kingdom (UK) and the European Union (EU), subject to validation of Collaboration Co.’s Novel Foods Application. At such time as the Food Standards Agency publishes the list of validated applications, Collaboration Co. will be able to use AREV’s ingredients and proprietary formulations, which include Sea Cucumber, Hops and Ginseng extracts in the production of products targeted at UK and EU markets. The Company paid USD$10,000 to Collaboration Co. related to filing fees associated with the Novel Foods Application.
Mike Withrow, CEO of AREV, commented, “this alliance is a perfect fit for AREV, immediately giving the Company access to a secure supply of superior cannabinoid inputs to support growth in branded product sales, while saving the Company significant capital and speeding time to market. The combination of the Company’s core competencies in technology and product development, and Collaboration Co.’s proven track record of quality production and innovation will be a win for customers and shareholders and we look forward to working together to bring AREV’s BARE branded products to the UK, the EU, North America and other attractive global markets.”
Collaboration Co.’s Novel Foods Application includes the manufacture and sale of CBD isolate, THC free / CBN free, broad-spectrum distillate, and water-soluble powder as permitted under relevant laws and regulations (collectively the “Approved Bulk Products”), plus ingestible cannabinoid-containing finished products in the form of tinctures, mints, gummies and softgels (collectively the “Approved Finished Products”), as set forth in the Novel Food Application.
For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536.
About AREV NanoTec Brands, Inc.
AREV NanoTec Brands Inc. (“AREV”) produces and sells functional ingredients produced via its proprietary extraction systems. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition markets. AREV’s model is to toll process extraction of targeted essential and functional oils and license its formulations to Licensed Producers worldwide. The company utilizes toll processors in foreign countries to encapsulate and package its formulations that can be sold in traditional distribution channels and online.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com.
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