I've posted about RTI before.
Not much has been going on with them but now they have a contract.
Released it on a Friday after close...but still a contract.
Radient Technologies wins manufacturing contract
2015-12-11 17:15 ET - News Release
Mr. Denis Taschuk reports
RADIENT TECHNOLOGIES INC. ANNOUNCES MANUFACTURING AGREEMENT AND COMPLETION OF SHARES FOR DEBT TRANSACTION
Radient Technologies Inc. has entered into a manufacturing agreement with a global leader 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 chief executive officer 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. |
