February 18, 2021
Radient Technologies Announces Shares for Debt arrangements and grants stock options
EDMONTON, Alberta, February. 18, 2021 Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), 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 achieving this on the back of a ramp up of sales revenues expected in 2021 resulting from Radient’s product sales and growing demand for Cannabis 2.0 products.