VANCOUVER, BC - TheNewswire - January 25, 2021 - AREV NANOTEC BRANDS INC. (CSE:AREV) (OTC:AREVF) (CNSX:AREV.CN) (“AREV”) is pleased to announce that it has agreed to enter into an operating agreement (the “Transaction”) with Vapen Kentucky, LLC (“Vapen KY”), a Kentucky-based producer of CBD isolate and distillate, to supply extracted CBD oils from their local operation and provide production services to the AREV in Kentucky for AREV’s BARE branded line of CBD infused nutraceutical products.
AREV will, upon signing the operating agreement, advance USD$30,000 to Vapen KY to be utilized to build out the production facilities, as necessary. AREV will provide Vapen KY with the specifications for the processing and operating facilities, the equipment necessary to produce AREV’s products, and training for Vapen KY’s employees. AREV will pay a service fee for production staffing and occupancy services as well as purchase CBD extracted oils from Vapen KY at prices to be agreed upon in the operating agreement.
The terms of the Transaction are subject to the negotiation and execution of an operating agreement. Details of the operating agreement will be disclosed once finalized.
For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536.
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. 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.
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.
Copyright (c) 2021 TheNewswire - All rights reserved.