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Radient Technologies Inc. Signs Supply Agreement with Medical Cannabis by Shoppers, a subsidiary of Shoppers Drug Mart Inc., for the Formulation and Manufacturing of Exclusive Branded Cannabis ProductsRadient to Utilize its Proprietary Extraction Technology and In-House Formulation Capabilities to Provide a Brand Exclusive to the Medical Cannabis by Shoppers Platform EDMONTON, Alberta, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global manufacturer of high quality cannabinoid-based ingredients, formulations and products, is pleased to announce it has entered into a supply agreement (the “Agreement”) with Medical Cannabis by Shoppers, the online medical cannabis platform of leading Canadian pharmacy retailer Shoppers Drug Mart (“Shoppers”). Under the terms of the Agreement, Radient will utilize its proprietary extraction and downstream processing platform to create a variety of cannabinoid formulations under a brand that will be sold exclusively to patients of Medical Cannabis by Shoppers. The Agreement is for a three-year term, subject to renewal for an additional two years or earlier termination. Radient’s unique, continuous-flow extraction process has been proven to achieve a higher recovery of active compounds from the cannabis plant (up to 99%) than other extraction methods, has lower risk of cannabinoid degradation during processing which allows products to maintain stability (“shelf life”) for a longer period of time, and has a high level of product consistency. Combining its unique extraction technology with stringent quality control systems and decades of botanical ingredient manufacturing experience, Radient produces a variety of broad spectrum cannabinoid formulations, ingredients and products that meet the highest standards of quality and safety. Denis Taschuk, President & CEO of Radient commented, “This is an incredible milestone for Radient. We are very proud of what we have achieved as a Company ove the last two years, and this partnership is a monumental leap forward. We are very pleased to be supplying Medical Cannabis by Shoppers with unique formulations and products that meet the highest standards of quality and safety, and we look forward to working with them.” About Radient SOURCE: Radient Technologies Inc. Investors please contact: Adam Deffett, Sr. VP Corporate Development: [email protected] Media/press please contact: Caitlin Cheadle, Director of Communications: [email protected] Forward Looking Information: NEITHER 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. |