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Radient Technologies announces a non-brokered private placement offering of up to 40 million common shares at $0.10 each, aiming to raise up to $4 million for general corporate purposes. The offering is contingent on TSX Venture Exchange approval, with a closing date around October 16, 2020. Additionally, the company will grant 6.4 million stock options at the same price, subject to exchange approval. The securities will not be available in the U.S. without proper registration. Radient continues to focus on high-quality cannabinoid-based products, utilizing an efficient extraction process.
Radient Technologies announced its fiscal Q1 results ending June 30, 2020, reporting revenues of $42,435 amid reduced operations due to COVID-19. The company recorded a net loss of $5,431,086, slightly less than the previous year's $6,350,972. Notably, Radient closed an equity offering of $5.75 million and received a sales license amendment for extracts and edibles. The company signed white label agreements and registered for sales across multiple provinces. Despite challenges, there's optimism about upcoming product rollouts in the cannabis market.
Radient Technologies Inc. (RDDTF) announced a 45-day extension for filing its financial statements and management’s discussion and analysis for the quarter ended June 30, 2020, due to challenges from COVID-19. Originally due by August 29, 2020, the new deadline is set for October 13, 2020, under ASC Blanket Order 51-519. The executive compensation disclosure is also delayed, with a filing due by October 16, 2020. The company remains under an insider trading black-out policy until the quarterly filings are disclosed.