Relay Medical Corp. and AgraFlora Organics International Inc. Form Glow Life Technologies Ltd. for the Development of Medical Technologies in the Cannabis Sector
Canada NewsWire
VANCOUVER and TORONTO, Dec. 20, 2018
VANCOUVER and TORONTO, Dec. 20, 2018 /CNW/ - Relay Medical Corp. ("Relay") (CSE: RELA, OTCQB: RYMDF, Frankfurt: EIY2), a developer of MedTech innovation, and AgraFlora Organics International Inc. ("AgraFlora Organics") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, and jointly referred to as the "Partners", are pleased to announce the formation of the private company Glow Life Technologies Ltd. ("Glow") to pursue medical related technology opportunities in the global cannabis sector.

The newly formed entity combines Relay Medical's techno-commercial leadership with AgraFlora Organic's accumulated knowledge, expertise and access to cannabis industries across the sector. Glow Life Technologies will benefit from Relay Medical's infrastructure, technical leadership and business knowledge for the research, vetting, product development and validation of innovative technologies and AgraFlora will support the Company in the pursuit of technology opportunities in scientific validation, diagnostics, health & safety, screening, compliance and quality control/assurance within the cannabis industry.
"The combination of a new industry with unbridled expansion has created a critical need for technology to support, enhance and maintain the quality, health and safety needs for cannabis use as a medicinal and controlled substance." said Derek Ivany, President & CEO of AgraFlora Organics International Inc. "The development of such technologies requires a level of sophistication and MedTech experience that is not yet commonplace in the industry, and we could not think of a better partner than Relay Medical and Lahav Gil to address this opportunity. We are very excited to join them in the path to recognizing Glow's full potential."
"The legalization and utilization of medical cannabis is in its infancy and the industry needs adequate technologies to properly validate and effectively control, screen, and regulate the substance for prescription and medical use," said Lahav Gil, CEO, Relay Medical Corp. "We believe that this gap presents significant opportunities within the MedTech industry and that creating Glow as a focused company will ultimately position it with the technical and industry expertise to build an innovation platform related to medical cannabis technologies. The Cannabis sector is grappling with its own identity and credibility, and we aim to bring clarity and focus into the MedTech ecosystem. We are very pleased to work with AgraFlora at such a crucial time in the industry as Canada positions itself for global leadership. We believe this partnership provides Glow with unprecedented benefits and expect that the company will take full advantage of these synergies.
The newly formed entity is owned 50% by Relay Medical, 30% by AgraFlora Organics, who have committed to an initial investment of $200,000, and 20% by private investors who have committed $500,000 investment in Glow Life Technologies Ltd. Total initial funding of $700,000 has launched Glow Life Technologies in the development of its operational structure, with the initial mandate to find and identify appropriate technology opportunities within the sector. Glow has commenced initial due diligence on industry related innovative technologies and expects to announce its management and industry expert support team early in 2019.
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