/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR
DISSEMINATION IN THE UNITED
STATES/
EDMONTON, Dec. 11, 2015 /CNW/ - Radient Technologies Inc.
("Radient" or "Corporation") (TSX-V: RTI), an innovator in the
extraction of natural ingredients from natural biomass using a
proprietary Microwave Assisted Processing ("MAP™") technology,
announced today that it has entered into a manufacturing agreement
with a global leader (the "Customer") in the development,
manufacturing and marketing of innovative ingredients for the
cosmetic and personal care industry. The Customer offers active
ingredients, functional ingredients and delivery systems from
various origins. The Corporation expects that this first agreement
may lead to the manufacturing of other ingredients by Radient for
distribution in the Customer's international distribution
network.
Under the terms of the agreement, Radient will produce a
specialized active ingredient to be used in the Customer's
portfolio of differentiated products. Radient was confirmed to meet
the Customer's stringent requirements for purity, yield and
cost.
"This agreement is another demonstration of the versatility of
our technology to manufacture high-end, superior ingredients and
meeting the highest industry standards using MAP™," said
Denis Taschuk, President and CEO of
Radient.
Completion of Shares for Debt Transaction
The Corporation also announces that, further to its press
release dated November 13, 2015, it
has completed the previously announced shares for debt transaction
for the settlement of $34,050 (the
"Indebtedness") owing to a certain arm's length creditor of the
Corporation. As payment in full of the Indebtedness, the
Corporation issued to such creditor 340,500 units, with each such
unit consisting of one Common Share and one half Common Share
purchase warrant (the "Warrant"), with each whole Warrant entitling
the holder to subscribe for one additional Common Share at a price
of $0.50 per Common Share until the
date that is 42 months from the date of issuance. All
securities issued in connection with the transactions described
above are subject to a statutory four-month hold period.
About Radient
Radient extracts natural compounds from a range of biological
materials using microwave assisted processing ("MAP™"), a patented
technology platform which provides superior customer outcomes in
terms of ingredient purity, yield, and cost. From its 20,000 square
foot manufacturing plant in Edmonton,
Alberta, Radient serves market leaders in industries that
include pharmaceutical, food, beverage, natural health, personal
care and biofuel markets. Visit www.radientinc.com for more
information.
Information set forth in this news release contains
forward-looking information and statements that are based on
assumptions as of the date of this news release. These statements
reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. The
terms and phrases "goal", "commitment", "guidance", "expects",
"would", "will", "continuing", "drive", "believes", "indicate",
"look forward", "grow", "outlook", "forecasts", "intend", and
similar terms and phrases are intended to identify these
forward-looking statements, including but not limited to statements
regarding the future manufacturing and distribution of other
ingredients by the Corporation the Customer's network and the
production of ingredients under the terms of the agreement with the
Customer. The Corporation cautions that all forward looking
information and statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Corporation's control. Such factors
include, among other things: risks and uncertainties relating to
economic conditions, the successful completion of the agreement
with the Customer and the success of the Customer and the
Corporation. Accordingly, actual and future events, conditions and
results may differ materially from the estimates, beliefs,
intentions and expectations expressed or implied in the forward
looking information. Except as required under applicable securities
legislation, the Corporation undertakes no obligation to publicly
update or revise forward-looking information.
This news release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The shares offered will not
be and have not been registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") and may not be
offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the U.S. Securities Act and
applicable state securities laws.
Neither 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.
SOURCE Radient Technologies Inc.