Relevium sells a variety of dietary supplements on platforms such as amazon.com and walmart.com via a subsidiary called BioGanix. The company also has a subsidiary called BioCannabix focused on the medical cannabis markets in Canada and Europe.
Relevium made the news in mid 2019 with the announcement of a plan to acquire a Colombian hemp firm. The company cited a standard offshoring benefit of lower labor costs to go with more sunshine at tropical latitudes to boost growth, which could also lower costs by making multiple crops per year possible.
“This is a major strategic step in the development of our Phyto therapeutic biopharma business,” said Aurelio Useche, CEO of Relevium Technologies.
Forging ahead despite regulatory uncertainty
At that time, the company said it planned to launch LeefyLyfe hemp products in the US once the regulatory picture became clearer. It’s hard to say that the regulatory picture is any clearer now that it was then, but nevertheless the company says now is the right time to launch its line of organic hemp products into the US.
Unlike the bet on the Colombian farms, the new products are sourced from organic hemp grown in Sweden. The products are positioned as broad spectrum hemp extracts containing only the “purest unprocessed form of hemp extracts.”
The line includes Organic Hemp Oil Drops and Organic Hemp Gummy Bears. The two products are part of a line eventually planned to encompass eight products, all for sale on amazon.com or the company’s own website.
“We are delighted to officially launch LeefyLyfeTM Organic Hemp, our premium line of carefully crafted broad spectrum hemp products. Over the next several months we plan to add a unique series of newly formulated products sourced from non-GMO organic hemp from Scandinavia and carefully blended in the US,” said Relevium CEO Aurelio Useche.
The gummy delivery system has generated a lot of interest in the hemp/CBD space. Just yesterday, Church & Dwight announced a launch in the US market.
Relevium is a publicly traded company listed on both the Toronto and Frankfurt stock exchanges. In its most recent financial statement, the company reported slightly more than $1 million in sales for the quarter ending Sept. 30, 2019, and reported a loss of $850,000 in the same period.