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Thank you very much for joining us today, we have a great interview coming up with Aurelio Useche, CEO of Relevium Technologies. For those who are not familiar with Relevium Technologies story, could you walk us through the company and fill the readers in on how you have built this young budding company over the last 12 months?
Thank you for the opportunity to reach out to your readership.
Relevium Technologies set out on a mission to acquire entrepreneurial online brands in health and wellness. About twelve months ago we acquired our first target, Bioganix®, a nutraceutical online brand that had been in business for four years.
Because of their size and nature, these entrepreneurial brands are typically sold through a single market place and the focus is on the product rather than the brand. As such, with every acquisition, we focus on building brand equity and we do so by repositioning the brand without affecting its current market. As we have done with Bioganix®, we launch new products and new brands, we add value by introducing science-based exclusive formulations, expanding geographically, such as we are currently doing with the UK and European market as we introduce new brands into new marketplaces (ex. Walmart).
More recently, Relevium has targeted the cannabinoid market because of the medical value these compounds have on our health. As such, the company created Biocannabix Health Corp, a wholly owned subsidiary that is seeking to comply with Health Canada’s ACMPR licensing to give us access to the Canadian and export markets.
First, we would like to say congratulations on your recent approval by the city for your ACMPR cultivation facility in Montréal. What are the plans going forward and what can shareholders expect? What is the competitive advantage that you think Relevium has over other producers?
Thank you very much! Our objective is to create a fully integrated nutraceutical company that uses organic cannabis in its formulations. There are already hundreds of CBD based products such as tinctures, oils and edibles but there are a lot of questions about the quality and source of the cannabinoids being used. As such, we felt it would be central to our strategy to establish the right partnerships to grow, process and formulate unique products for medical and over the counter purposes.
Our competitive edge will include the strategic partnerships we establish in the three areas and our ability to formulate and market quality trusted brands in this space.
Why/how did the Company decide to evolve in to the cannabis side of the wellness industry? What is it that Relevium can do differently than other industry players?
The decision was simple: Our focus is on health and wellness. The cannabinoid market is just in the early stages of development with less than a handful of these powerful substances being researched or used. Although from a public markets point of view labelling Relevium as a Cannabis company would make sense, we still believe our brands are about Health and Wellness and cannabis is bound to make a significant contribution this space over the years to come.
We believe that our main difference will be our expertise in retailing nutraceuticals online, a highly competitive business. We will leverage our “know-how” and launch high quality and effective formulations through trusted brands.
Recently the company announced a supply agreement for full spectrum CBD oil with Plena Global. Given the fragmented and constantly evolving regulatory environment, what is the strategy with the supply from Plena? Which markets, and geographies does Relevium intend on serving and what do you think the sales channels will be?
The emergence of CBD has created a supply chain issue, particularly in terms of course in quality. The supply agreement with Plena Global aims at ensuring a stable, high quality source of CBD to secure raw ingredients for our European supply chain.
Our initial target will be Europe, but Relevium will expand quickly to those jurisdictions where CBD is legal.
The company started with the acquisition of Bioganix, an e-commerce nutraceutical company that already generates significant revenues. Can you tell us more about Bioganix since it’s acquisition?
Bioganix® was an online brand of 20+ products sold primarily through Amazon in the US. The company’s success prior to its acquisition was based on trending weight loss products. However, as competition increased, and amazon changed its policies, the company needed to diversify its portfolio of products and its sales marketplace.
Since its acquisition, we have been focused on ensuring ongoing business while we clean up the product portfolio. We have been launching new products this year, most of which have just hit the shelves in Amazon. We have expanded geographically to Europe and our first four products will become available in the next few weeks. In May, we also announced the approval of our new gold series brand in Walmart.com, a project that has experienced some delays due to quality control process required of each initial product. We also expect the new brand to be live on Walmart.com within a few weeks.
Now, at the start of its second year, we expect to grow the brand and we expect to add new brands to the portfolio.
The company achieved a major milestone by increasing its distribution channel when you announced that you received approval from Walmart.com to sell Bioganix products. Have there been any delays in terms of the supply chain and is why products are not live yet?
This is a very good question and one that our team takes to heart.
Although our company was approved for sale in Walmart.com, any new seller must comply with an extensive quality control process called WERCS.
We are currently at the end of this process and expect to be live in the coming weeks. I can guarantee you that our team will be the first to publish the news through the company’s social networks and health blogs.
As part of Relevium’s expansion plans, the company stated that it will be entering the European market with Bioganix products via Amazon.co.uk. Could you provide us with any updates or progress on these developments?
Our company is listed and ready to sell on amazon.co.uk, which will also give us access to 6 European nations. We have had to establish a local legal presence and ensure the right supply chain. We believe we are at the end of this process and should have our first products online very soon.
As with Walmart.com, once we are an established seller, the launch of new products will be a lot faster and out team is very excited about the opportunity to bring Bioganix® to European consumers.
At the beginning of the year it was announced that Relevium had entered into a joint venture with Tagspire, a virtual retail and visual commerce platform, and a proposed ICO. Could you tell us what happened with the JV?
The proposed Joint Venture with Tagspire provided Relevium with a great opportunity to have a technology marketing edge. Although the technology was impressive, after a long due-diligence process we felt that the additional investments required to integrate blockchain and to ramp up the user base was high and unpredictable. We also identified several stumbling blocks with a token/coin offering including total cost and regulatory risk regarding the overall context for public companies.
Investors can expect a dedication to growing and expanding Bioganix®, some strategic acquisitions and the funding and development initiatives for our vertically integrated Biocannabix business.
We look forward to the revaluation of the business in the capital markets to the benefit of our patient and loyal shareholders. Serious companies are not built overnight and we are serious about our business!
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