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VANCOUVER, British Columbia, June 11, 2021 (GLOBE NEWSWIRE) -- AREV NANOTEC BRANDS INC. (CSE: AREV) (OTC: AREVF) (“AREV” or the “Company”) is pleased to announce that its Chief Executive Officer, Michael Withrow, has purchased a total of 900,000 shares, including private placement purchases and the exercising of warrants.
Mr. Withrow purchased, through his wholly owned entity, Chiron Capital Inc., the shares by exercising 500,000 warrants at a price of $0.08 per warrant and purchasing 400,000 units in the Company’s private placement at a price of $0.25 per unit, the currency in CAD. Each unit consist of one common share and one common share purchase warrant (each, a “Warrant”), each whole Warrant entitles the holder thereof to purchase one additional common share (the “Warrant Shares”) of the Company at a price of $0.28 per share, at any time on or before 5:00 p.m. (Vancouver time) on the date that is 24 months from the date of issuance of the Warrants; except that, if over a period of 10 consecutive trading days between the date that is 4 months and a day from the date of issuance of the Warrants and the date that the Warrants would otherwise expire, the closing price of the Company’s common shares on the Canadian Securities Exchange (or such other stock exchange where the majority of the trading volume for the Company’s common shares occurs) is at or exceeds $0.75, then the Company may, at its option, provide written notice to the warrant holders to exercise their Warrants within 30 days of the date of the notice, failing which the Warrants will expire (the “Exercise Period”).
This purchase brings Mr. Withrow’s total holdings to 12,103,000, representing 47.59% of the Company’s equity.
Mr. Withrow commented: "When I study our core competencies and vision, along with the people working with the Company, I see a huge opportunity in the multiple markets that we operate in. The global life science market size was valued USD 49.82 billion in 2019 and expected to surpass USD 95.68 billion by 2027 with a CAGR of 8.5% from 2020 to 2027, according to Precedence Research. We have engaged accomplished scientists and have excellent technologies to develop innovative solutions within this industry, leaving many years of forward growth still on the table." He continued: "When I think of the therapeutic innovations in our pipeline, there are excellent prospects for rapid growth, and that is why I am investing so heavily in AREV."
AREV continues to produce multiple extracts and advanced compounds from targeted natural sources to be characterized by collaborative partners and our network of experts on the AREV Scientific Advisory Board and those working for the Company at the junction of science and public health. These relationships enable the Company to design and develop innovative products in a shorter time frame than current industry standards.
The company has issued 100,000 stock options to Directors, Officers and Consultants of the Company at a price of $0.185 for a period of 5 years from the issued date. These options will vest immediately.
For further information, contact Mike Withrow, email@example.com 778-929-6536. For more information visit www.arevlifesciences.com
On behalf of the Board,
CEO & Director
About AREV NanoTec 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 for both the human and pet market. AREV’s model is to toll process extraction of targeted essential and functional oils and license its formulations to Licensed Producers in Canada. 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.
FORWARD LOOKING INFORMATION
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.