23:58:04 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Arev Nanotec Brands Inc
Symbol AREV
Shares Issued 16,957,807
Close 2021-01-22 C$ 0.31
Market Cap C$ 5,256,920
Recent Sedar Documents

Arev Nanotec to enter operating agreement with Vapen

2021-01-25 11:02 ET - News Release

Mr. Mike Withrow reports

AREV NANOTEC ANNOUNCES THE INTENTION TO ENTER INTO AN OPERATING AGREEMENT

Arev Nanotec Brands Inc. has agreed to enter into an operating agreement with Vapen Kentucky LLC, a Kentucky-based producer of CBD isolate and distillate, to supply extracted CBD oils from its 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 $30,000 (U.S.) 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.

About Arev Nanotec Inc.

Arev Nanotec Brands 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 and 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 on-line.

We seek Safe Harbor.

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