AgraFlora Organics and Relay Medical Reports on Initial Technology Asset Transfer for Glow LifeTech Ltd.

Published: April 9, 2019

AgraFlora Organics and Relay Medical Reports on Initial Technology Asset Transfer for Glow LifeTech Ltd.

AgraFlora Organics International Inc., a growth oriented and diversified international cannabis company, and Relay Medical Corp., a developer of MedTech innovation, jointly referred to as the “Partners”, are pleased to announce the execution of an asset sale agreement to transfer a suite of technology assets including the cannabis Smart Consumption System from Relay Medical Corp. to Glow LifeTech Ltd.

The technology assets relate largely to the Smart Consumption System (“SCS”) currently being developed by Relay Medical to provide users and healthcare professionals with a medical grade, connected hardware/software product line to assist with effective management, storage, curation and consumption of cannabis related products. The storage product provides in-home secure, and environmentally controlled storage and guides dispensing and dosing for all cannabis delivery methods.

The system includes advanced management features for patient-caregiver interaction as well as an AI-driven engine, which can provide doctors and the pharmaceutical industry with valuable information on patient responses to cannabis products and to provide cannabis producers with market intelligence and the information to conduct post-market surveillance of their products.

“While there is a lot of focus and discussion around the growing recreational cannabis market there exists a clear gap in products, services, and technologies designed specifically for safe, consistent and responsible consumption of cannabis products. These concerns are especially clear within the healthcare sector where physicians and healthcare professionals are anxious and often resistant to prescribing cannabis treatment due to the largely inconsistent quality control and dosage issues so common in the marketplace.” said Lahav Gil, CEO & Director, Relay Medical Corp. “We believe that by providing consumers and prescribing physicians with the products to effectively identify, and confidently consume medicinal and recreational cannabis products, we can encourage responsible use and effectively ease consumer tension.”

“With the market place opening and the stigma around cannabis use fading, consumers are looking for guidance as to how to safely and confidently evaluate the potential benefits of cannabis products for both recreational and medical use,” said Derek Ivany, President & CEO, AgraFlora Organics International Inc. “The mandate of Glow LifeTech is to develop and support innovation in the cannabis sector to give consumers, producers and the industry at large, access to solutions to elevate industry standards and encourage responsible use. The Smart Consumption System is a great first step in addressing this initiative.”

Glow Lifetech is currently a private company founded by the Partners in December 2018 (See press release dated December 20, 2018) to develop technologies to service the rapidly growing global cannabis sector. On April 4, 2019, the Partners jointly announced the signing of a binding letter of intent (“LOI”) to bring Glow public by way of reverse takeover.

Under the terms of the agreement, Relay has sold a suite of technology assets relating to the development and licensing of cannabis related medical technologies. In consideration, Glow has issued 6,350,000 shares to Relay resulting in Relay holding approximately 63.5% of Glow prior to the anticipated completion of a private placement and go-public transaction.