Daily Archives: May 8, 2020

Radient Technologies Inc. Announces Shares for Debt Arrangements

EDMONTON, Alberta, May 08, 2020 (GLOBE NEWSWIRE) — Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, announces that it has entered into a series of shares for debt agreements with various of its creditors under the terms and conditions noted below.

The Company has agreed to issue 3,781,073 units to a number of third party creditors in exchange for the settlement of $623,877 of amounts owed by the Company.  Each unit will have a deemed value of $0.165 per unit and each unit will include one share and one-half of one common share purchase warrant.  Each full warrant will be exercisable at $0.30 into one Radient common share for a period of 24 months from the date of the completion of the debt settlements.

Additionally, the Company has agreed to issue 1,368,576 shares to certain officers and directors in exchange for the settlement of $225,815 of amounts owed by the Company to such individuals.  The Radient shares issued under these agreements will have a deemed value of $0.165 per share.

Securities issued under both arrangements will be subject to a 4 month hold period and both arrangements are subject to the approval of the TSX Venture Exchange.

The Company also announces that it has issued common shares to third-party consultants for services provided, pursuant to the shares for a service agreement previously approved by the TSX Venture Exchange. The common shares were issued at the TSX Venture Exchange 15-day VWAP share price as follows:

  • January: 236,098 common shares at CAD $0.36
  • February: 220,529 common shares at CAD $0.38
  • March: 449,451 common shares at CAD $0.19
  • April: 733,668 common shares at CAD $0.16

About Radient
Radient Technologies is a commercial manufacturer of high quality cannabinoid based formulations, ingredients and products. Utilizing a proprietary extraction and downstream processing platform that recovers up to 99% of cannabinoids from the cannabis plant, Radient develops specialty products and ingredients that contain a broad range of cannabinoid and terpene profiles while meeting the highest standards of quality and safety. Please visit www.radientinc.com for more information.

SOURCE: Radient Technologies Inc.

Contact: Investor Relations: ir@radientinc.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 completion of the shares for debt arrangements 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.


Hanoi targets 10 new-style rural districts in 2020

  Hanoi is striving to have 10 districts recognised as new-style rural areas in 2020, according to a local official.

Since the beginning of this year, two more communes in the capital’s Gia Lam outlying district have been recognised as new-style rural areas.

Hanoi has six new-style rural districts, namely Dan Phuong, Dong Anh, Thanh Tri, HoaiDuc, QuocOai and Gia Lam.

To achieve the target, Permanent Vice Secretary of the municipal Party Committee Ngo ThiThanh Hang requested the municipal Department of Agriculture and Rural Development to speed up the disbursement of a 700-billion-VND (over 30 million USD) aid package for districts and communes to develop agriculture, build new-style rural areas, and improve local living standards.

She also asked the department to implement packages to promote agriculture growth and develop key products in animal husbandry and the cultivation of vegetables, flowers, bonsai trees and fruit.

The official said that diseases this year have affected economic development in general and the agriculture sector in particular.

The sector needs to exert more efforts to fulfill its yearly growth target of over 4 percent.

According to director of the department Chu Phu My, the city’s agricultural growth declined by 1.17 percent year-on-year in the first quarter of 2020 due to the impact of African swine fever and the COVID-19 pandemic.

The national target programme on building new-styled rural areas was initiated by the Government in 2010 with the aim of developing rural regions. The list of criteria includes the development of infrastructure, the improvement of production capacity, environmental protection, and the promotion of cultural values.

Source: Vietnam News Agency

PM instructs enhancing power saving

  Prime Minister Nguyen XuanPhuc has called on the whole country to save at least 2 percent of total power consumption each year under his recently-signed Directive No.20/CT-TTg on saving electricity from 2020-2025.

The PM required ministries, ministry-level agencies, Government agencies, people’s committees of centrally-run cities and provinces, businesses and mass organisations to take five measures.

Administrative agencies must work with electricity suppliers to save 5 percent of the total consumption each year, build and effectively follow regulations on the use, repair and maintenance of electricity equipment, and raise staff awareness of power saving. The agencies are encouraged to install rooftop solar power systems.

Public lighting operators were required to save 20 percent of the total electricity consumption during the period. Power saving technology must be used in public lighting.

Hospitality providers, office centres and apartment buildings were asked to cut 50 percent of outdoor advertising lighting capacity at night.

Households were suggested to use equipment with energy saving labels, economically and effectively use power, and install solar panels on roofs.

Major energy consumption establishments must save at least 2 percent of power per product unit each year.

People’s committees of centrally-run cities and provinces must add criteria for economical and effective energy use into their annual and periodic socio-economic development plans

Vietnam Electricity will be responsible for optimising power plants and electricity transmission networks, and working closely with the National Centre for Hydro-Meteorological Forecasting to update forecasts about weather and water resources.

Source: Vietnam News Agency

QuangNinh builds road linking with Ha Long-HaiPhong-Hanoi expressway

  The northeastern province of QuangNinh is planning to build a riverside road connecting with the Ha Long-HaiPhong-Hanoi expressway.

Construction of the 51.4km road is scheduled to commence in 2021.

The project is expected to meet the development requirements of Quang Yen, Uong Bi and Dong Trieu, thus creating a driving force for the western region of QuangNinh.

Chairman of the provincial People’s Committee Nguyen Van Thang said the road will be designed with six lanes in 2021-2026, then expanded to 10 lanes.

Quang Yen, Uong Bi and Dong Trieu form an economic corridor in the west of QuangNinh.

Quang Yen has the potential to develop services, seaports, logistics, urban areas and high technology, which are expected to draw a large number of domestic and foreign investors in the near future.

The connection of the three localities with the Ha Long-HaiPhong-Hanoi expressway will also contribute to the development of seaport and logistics systems on the waterway from Quang Yen to other key areas in the north.

Strategic investors such as Vingroup, Amata, Foxconn and TCL are carrying out large-scale research projects in Quang Yen such as the green Ha Long urban areas and Amata industrial park.

They are also planning to implement projects in Uong Bi and Dong Trieu.

Source: Vietnam News Agency

Tourists to Hanoi reduce by 98.4 percent in April

  The number of tourists to Hanoi dropped 98.4 percent year on year to just 35,500 in April, it was reported at a meeting of the municipal People’s Committee on May 6.

Among the visitors, there were around 8,500 international guests, down 98.6 percent, while domestic travelers numbered 27,000, down 98.3 percent.

As a result, the tourism sector’s revenue also fell 98.3 percent to only 143 billion VND (6.1 million USD).

The strong reduction in April contributed to a decrease of 59.2 percent in the number of tourists visiting Hanoi in the first four months of this year, to 3.89 million. Of the figure, over 964,000 were international visitors, down 58.2 percent year on year, and 2.92 million were domestic tourists, down 59.5 percent.

The sector earned 15.83 trillion VND in the period, down 53.2 percent from the same period last year.

Director of the Tourism Department Tran DucHai said 1,200 local accommodation facilities had to suspend operation due to the COVID-19 pandemic. Before the national holidays on April 30 and May 1, 1,364 travel agents stopped operation, affecting over 35,000 employees.

However, the department believes there is a good prospect for growth as the sector gradually resumes operation.

“The department has defined its main task of stimulating domestic tourism from now to the end of the year,” director Hai said.

According to him, the sector will focus on the local strength of cultural tourism, while developing sustainable tourism products involving agriculture and trade villages.

Travel demand of Hanoians has started increasing again since the social distancing order was lifted in late April, and many tourist sites in the capital city have re-opened after long closure in an effort to help contain the spread of the COVID-19.

Source: Vietnam News Agency

HCM City to apply online enrollment for 2020-2021 school year

  Ho Chi Minh City’s Department of Education and Training has directed all schools in the city to apply online enrollment for the next school year due to the COVID-19 pandemic.

Schools must update admission forms on their website, and all procedures related to admission must be done online.

This is not the first time the city has applied online enrollment.

Tran KhacHuy, head of the Department of Education and Training of Tan Binh District, told Lao Dong (Labour) newspaper that all schools in his district have used online enrollment since last year.

Last year, the district directed some schools to pilot online enrollment so that all schools in the district would be ready for this new kind of enrollment.

According to Huy, online enrollment for the next school year will be more favorable compared to previous years because all schools in the district now have their own websites.

This year, parent of students only need to download all register forms on the website, fill in forms, and send them to the website.

Tran TrongKhiem, deputy head of the Department of Education and Training of Tan Phu District, said some agencies had offered advanced software to help schools implement online enrollment.

However, the price of the software is still high compared to the school’s budget. Therefore, schools in the district are still using their websites to publish admission forms.

Source: Vietnam News Agency

Medical supplies for Vietnamese in Europe to cope with COVID-19

  The State Committee for Overseas Vietnamese Affairs under the Ministry of Foreign Affairs held a ceremony in Hanoi on May 8 to receive medical supplies from the Flamingo Holding Group to assist overseas Vietnamese in Russia, the UK, and France fight the COVID-19 pandemic.

Vice chairman of the committee Luong ThanhNghi said Vietnamese communities abroad are an inseparable part of the nation.

He greatly appreciated the invaluable support of individuals and organisations at home and abroad towards overseas Vietnamese, especially those in the UK, France, and Russia.

A range of domestic organisations and individuals have donated medical equipment and food in support of Vietnamese expatriates affected by the pandemic, he noted.

In response to a call from Party General Secretary and President Nguyen PhuTrong and the Vietnam Fatherland Front Central Committee, Vietnamese communities in foreign countries also raised over 33 billion VND (over 1.4 million USD) and presented medical supplies to help the homeland’s COVID-19 prevention and control efforts.

At the ceremony, Nghi received 43,000 face masks and medicines for overseas Vietnamese in Russia, as well as 10,000 face masks for those in the UK and 10,000 face masks for those in France.

Source: Vietnam News Agency