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Radient Technologies and Grupo Natac announce JV to form Natac Solutions
EDMONTON, Alberta and MADRID, Spain, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Radient Technologies Inc. ("Radient" or the “Company”) (TSX Venture: RTI), to support its ongoing health and wellness activities, is pleased to announce the formation of Natac Solutions, a 50/50 Joint Venture (the “JV”) with Grupo Natac S.L. (“Natac”).
The companies have entered into a binding letter of intent that will see a portion of Radient’s Health and Wellness Solutions business folded into the JV along with a portion of Natac’s existing business to form a global entity, named Natac Solutions, based in Madrid, Spain. Radient and Natac share a common focus in health & wellness initiatives with complementary skills, technologies and synergies to address unmet market needs. This combination will help drive innovation and global expansion for both companies.
Natac Solutions leverages Radient’s disruptive extraction and downstream technologies and Natac’s expertise with clinically validated natural ingredients. With offices and manufacturing in North and South America, Europe, and a growing presence in Asia, the Joint Venture is ready to take advantage of global trends, and create value for our stakeholders and consumers.
“We have found a partner who is equally committed to developing products that are based on sound scientific evidence who also has the ability and desire to grow its operations globally. Natac shares our dedication to innovation and high operating standards and we are extremely pleased to partner with them,” commented Denis Taschuk, CEO of Radient.
“We are extremely excited to partner with Radient in this joint venture.” said Antonio Delgado, CEO of Natac. “The management team that has been assembled is well respected across industries, and we know that this joint venture will be successful in generating new long-term partnerships with clients. The synergistic combination of industry talent and manufacturing expertise, supported with world class quality and science sets up the JV for immediate success.”
The newly formed Joint Venture, Natac Solutions, will immediately combine health and wellness initiatives from both companies, including research and development, sales and marketing, and manufacturing.
Radient extracts natural compounds from a range of biological materials using microwave assisted processing ("MAP™"), a patented technology platform which provides superior product outcomes in terms of ingredient purity, yield, and cost. Radient serves market leaders in industries that include pharmaceutical, food, beverage, natural health and personal care markets. Visit www.radientinc.com for more information.
Denis Taschuk, Chief Executive Officer, firstname.lastname@example.org,
+1 (780) 465-1318;
Mike Cabigon, Chief Operating Officer, email@example.com,
+1 (780) 465-1318
Caitlin Cheadle, Investor Relations, firstname.lastname@example.org
Natac researches, develops, manufactures, and markets natural ingredients for use in food supplements, functional foods, and natural pharmaceutical ingredients, primarily plant extracts and functional lipids. The company’s sustainable business model involves building and maintaining relationships with farmers, large food companies, and other stakeholders, and this allows the company to offer ingredients from different regions and extracted with innovative technologies. The integration of a variety of processes, technologies, and equipment into an unparalleled synergy, enables it to control the cycle from the farmer to the finished product. Visit www.natac.es for more information.
Noela Gonzalez, Executive Director-Business Development, email@example.com
Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the impact of the JV, the ability to enter into a binding joint venture agreement; the Company’s ability to grow its business in the health and wellness sector and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radient, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Radient has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Radient does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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