Company announces agreement that will expand its national chain of health clinics into central Ohio

LOS ANGELES, Sept. 06, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) announced today that it has entered into a binding to agreement to acquire all of the membership interests in Happier You, LLC, which operates a ketamine clinic in central Ohio. This clinic will be added to Irwin Naturals Emergence, a fast-growing national chain of psychedelic mental-health clinics that has previously acquired 10 different clinics across a total of five states.

Klee Irwin, CEO of Irwin Naturals, said, “We are a first mover in this rapidly expanding sector of mental healthcare. By finding independent, financially sound clinics with exceptional customer care, we’re building a national chain that delivers on the quality of care that is embodied by the Irwin Naturals brand.”

Tara J. Dillon, founder of Happier You, said, “We built our practice out of the belief that it was not just possible, but necessary to ease the suffering of those people who had not been helped by traditional mental-health treatments. Becoming part of Irwin Naturals Emergence allows us to be part of a chain capable of making life-changing impact on a national scale.”

Happier You opened in 2020, founded by Tara Dillon, a registered nurse and family nurse practitioner. The clinic provides IV ketamine-infusion therapy, which is used to treat depression, anxiety as well as bipolar disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD).

Irwin Naturals was founded in 1994, and has built itself into a brand recognized in 80 percent of American households¹ with its best-in-class nutraceuticals, such as its famous “Power to Sleep PM.” Irwin Naturals products are stocked on the shelves of more than 100,000 storefronts in North America, and now that brand is moving to the forefront of this new frontier of healthcare.

Klee Irwin, CEO of Irwin Naturals, said, “We’ve earned customer trust through nearly 30 years of caring for their health needs. That makes us a familiar friend, providing assurance to consumers in this new area of care. Just being in this space speaks for both the safety and efficacy of this care.”

Irwin Naturals Emergence already includes clinics in Florida, Vermont, New Hampshire, Iowa and Georgia. By building this national chain of clinics, Irwin Naturals Emergence will drive down operating costs by incorporating its corporate best practices and the savings that come from the ability to buy in larger quantities. These savings can be passed on to consumers, and most importantly, broaden access for those in need through sliding-scale discounts or even pro bono treatment. This will enable the company to serve as a bridge as insurance plans catch up to the importance and power of these treatments.

Currently, ketamine is the only psychedelic available for use in the United States outside of clinical trials. However, MDMA and psilocybin may be authorized for therapeutic use in the future. The effectiveness of these treatments in clinical trials points to the possibility of further revolutionizing the field mental-health treatment. It is estimated that one in four Americans have what would be considered a diagnosable mental-health condition.

Transaction terms

The Agreement is subject to certain customary closing conditions and regulatory approvals. The total consideration is to be paid in a combination of cash and stock, with maximum payable contingent on a number of milestones related to profitability and operation goals. Further detail will be provided upon closing.

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class herbal supplement formulator since 1994. It is now leveraging its brand to enter into both the cannabis and psychedelic industries. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years². Irwin’s growing portfolio of products is available in more than 100,000 retail doors across North America, where nearly 100 million people know the Irwin Naturals brand.³ In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust with an objective to become one of the first household name brands to offer THC-based products and psychedelic mental health treatment. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to [email protected].

“Klee Irwin”
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
[email protected]

IR Information

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
[email protected]

Regulatory Overview

The following is a brief summary of regulatory matters concerning ketamine in the United States (“US”). Under the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations and psilocybin is currently a Schedule I drug. Most US States have enacted Controlled Substances Acts (“State CSAs”) which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for many state and local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.

In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency (“DEA”) to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a “DEA License”). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product’s labeling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the “FDA”). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.

Please see Irwin’s filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US THC industry.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

¹ Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.
² Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
³ Consumer brand recognition information is based on a formal Company survey with a sample size of 500 randomly selected adults.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Rapid Execution on Cannabis Licensing and Ketamine Clinic
Rollup Strategy to Accelerate Future Growth

LOS ANGELES, Aug. 30, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) announced the Company filed results for its second quarter of fiscal 2022, the period ended June 30, 2022 on www.sedar.com.

Philippe Faraut, CFO, stated, “While supply chain issues, reduced inventory at our customers and product transitions resulted in an 18% decrease in revenues, we maintained profitability. Additionally, as we continue to execute on our cannabis licensing and ketamine clinic rollup strategy, we will be adding new revenue streams to our results in the quarters to come. Following a bump in sales once the nation emerged from the most severe Covid related restrictions, we believe that our mass market (nutraceutical) business, we are now tracking back to normal sales patterns, which we believe will result in secular growth in the coming quarters.”

Mr. Faraut continued, “We maintain a healthy balance sheet, have very limited debt and have access to considerable working capital through our credit line and other instruments to invest in accelerated growth through our Emergence clinics and cannabis business lines. With acquisitions resulting in 11 clinics announced and completed, we anticipate seeing considerable growth coming from our Emergence business in the coming quarters, further supported by the rollout of our licensing deals, which now sees us in four states and in Canada.”

Financial Summary

Klee Irwin, CEO, commented, “The current proliferation of scientific research into the efficacy of psychedelics assisted mental health treatments has sorted two effects. On the one hand, treating physicians are taking notice of the remarkable results this line of treatment can accomplish, which is driving adoption amongst physicians and other mental health workers. On the demand side, we are seeing a rapidly accelerating destigmatization of psychedelics. Both are drivers that will continue to grow the market and with our rapidly expanding clinics chain, we are exceptionally well positioned to capitalize on this growth.”

Mr. Irwin continued, “While we saw similar patterns with cannabis, we believe that the strong science behind these treatments, with buy-in from both medical professionals and patients, will show an accelerated adoption curve. The one element that was missing was a trusted brand. With the Irwin Naturals brand recognized by over 100 million North Americans, there is now a well-known and trusted provider in the space. This, we believe, will drive additional patients our way to drive a marked acceleration of revenue and profitability growth.”

Financial Highlights

• The 18.0% decline in overall operating revenues were due largely to supply issues in the CBD segment, related to a fire at a key supplier. The decline in sales is believed to be temporary as production of CBD products has restarted at the Company’s manufacturer. Other factors impacting sales related to order timing and the loss of distribution of certain non-CBD mass market products.
• Income from operations in Q2 2022 came in at $0.5 million, as compared to $3.1 million for the same period in the prior year. The reduction in income was driven primarily by the aforementioned decrease in business volume and startup costs related to Emergence by Irwin Naturals (ketamine clinics) and Irwin Naturals Cannabis (intellectual property licensing to the cannabis industry).
• The overall decrease in business volume paired with startup costs related to the Company’s initiatives in cannabis and the aforementioned startup costs, resulted in a decrease in EBITDA¹ to $0.7 million.

¹EBITDA is a non IFRS metric that management believes provides a metric for rapid analysis of the underlying strength of the business. A reconciliation from IFRS to EBITDA is provided in the accompanying table above and at the end of this release.

• Cash Flows from Operating Activities: Cash provided by operating came in at $5.9 million and $10.5 million for the six months ended June 30, 2022 and 2021, respectively. The decrease in operating cash flows is primarily due to lower operating revenue and temporary unfavorability to working capital led by the timing of payments to the Company’s primary product manufacturer and non-cash share capital issuance.
• Positive cash flow from operations, combined with a largely undrawn line of credit, provides the Company with the financial resources to drive continued execution of its strategy.

Operational Highlights & Subsequent Events

Irwin Naturals is executing on an aggressive expansion strategy into the high-growth cannabis and psychedelics sectors. The Company intends to leverage its household name brand status to drive an aggressive rollup of mental health clinics (the Company is focused on ketamine clinics, as this is currently the only FDA-approved and/or regulated psychedelic substance). Furthermore, the Company has begun executing on its brand licensing strategy throughout the US. To date, the Company has announced or completed the acquisition of 11 clinics, as well as the signing of five brand licensing deals that will see Irwin Naturals products enhanced with THC be offered in California, Colorado, New Mexico, Ohio and Canada.

Business highlights and subsequent events

AUG 15, 2022 – Irwin Naturals Emergence Adds New England Clinic to Its National Footprint
AUG 08, 2022 – Irwin Naturals Completes Georgia Acquisition, Adds Two Ketamine Clinics to National Chain
AUG 04, 2022 – Irwin Naturals Cannabis Products to Be Available in Canada
JUL 28, 2022 – Irwin Naturals Emergence Making Immediate Impact in New England
JUN 21, 2022 – Irwin Naturals Continues To Expand Clinic Footprint
JUN 17, 2022 – Irwin Naturals Expands Operations into Northeast with Acquisition of Vermont-Based Clinic
MAY 24, 2022 – Irwin Naturals Expands Licensing Footprint for Branded THC Products to Ohio
MAY 20, 2022 – Irwin Naturals Completes Acquisition of Ketamine Health Centers
MAY 20, 2022 – Irwin Naturals THC Products to Launch in Colorado, the World’s 2nd Largest Cannabis Market
MAY 16, 2022 – Irwin Naturals’ Execution of Rollup Strategy Gaining Momentum
MAY 13, 2022 – Irwin Naturals Advances Into Its Second State, New Mexico, Via a License and Supply Deal With Assurance Laboratories for Branded THC Products
APR 19, 2022 – Irwin Naturals Enters Into License and Supply Agreement for Branded THC Products California Market
APR 18, 2022 – Company Leverages Household Brand Status in Effort to be World’s Largest Chain of Psychedelic Mental Health Clinics

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class nutraceutical company since 1994. It is now leveraging its brand into both the cannabis and psychedelic sectors. On a mission to heal the world with plant medicine, Irwin has operated profitably for over 27 years*. The growing portfolio of products is available in more than 100,000 retail doors across North America, where 80% of households know the Irwin Naturals brand**. In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its famous halo of brand trust to become, perhaps, the first household name brand to offer THC-based products. Its rapidly growing national chain of psychedelic mental health clinics is called Irwin Naturals Emergence.

*Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.

**Based on a formal Company survey with a sample size of 500 randomly selected adults.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to [email protected].

“Klee Irwin”
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
[email protected]

IR Information

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
[email protected]

Regulatory Overview

The following is a brief summary of regulatory matters concerning ketamine in the United States (“US”). Under the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations, and psilocybin is currently a Schedule I drug.

Most US States have enacted Controlled Substances Acts (“State CSAs”) which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for much state and local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.

In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency (“DEA“) to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a “DEA License“). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product’s labelling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the “FDA“). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.

Please see Irwin’s filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US THC industry.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

EBITDA and Adjusted EBITDA – Reconciliation

The Company defines EBITDA and Adjusted EBITDA as per the table below. It should be noted that these performance measures are not defined under IFRS and may not be comparable to similar measures used by other entities. The Company believes that these measures are useful financial metrics as they assist in determining the ability to generate cash from operations. Investors should be cautioned that EBITDA and Adjusted EBITDA should not be construed as an alternative to net earnings or cash flows as determined under IFRS. The reconciling items between net earnings, EBITDA, and Adjusted EBITDA are as follows:

Irwin Naturals Unaudited Condensed Combined Consolidated Interim Statements of Financial Position

Irwin Naturals Unaudited Condensed Combined Consolidated Interim Statements of Profit and Comprehensive Income

Irwin Naturals Unaudited Condensed Combined Consolidated Interim Statements of Cash Flows

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Psychedelics have shown tremendous promise in treating depression, anxiety, post-traumatic stress disorder, and a range of other mental health conditions. In particular, assisted psychotherapy combines psychedelic substances with talk therapy to facilitate breakthroughs and help patients that don’t see relief through conventional treatments.

While psilocybin, MDMA, and other psychedelic medicines remain in clinical trials, the FDA already approved ketamine for anesthesia years ago and recently approved esketamine for treatment-resistant depression and suicidal ideations. As a result, ketamine clinics already offer mental health treatments to patients nationwide.

Revitalist Lifestyle & Wellness Ltd. (CSE: CALM) (OTC: RVLWF) is one of the few companies executing on a vision to build a nationwide network of ketamine clinics. The goal is to establish a clinical presence and build relationships early on with patients benefiting from ketamine treatments,  before expanding into other psychedelic substances as the FDA approves them for use.

Click here to learn more about investing in Revitalist

A Growing National Footprint

Revitalist recently acquired its ninth ketamine clinic, expanding its footprint across six states, including Florida, Kentucky, Tennessee, Michigan, North Carolina, and Washington DC. By the end of the year, the company hopes to open a total of 48 clinics before ultimately reaching over 150 clinics by 2025, cementing its leadership position in the industry.

The company provides several treatment options at these locations. For example, its intensive outpatient program (IOP) offers short-term treatment for worsening mental health conditions. The three-day-a-week, six-week program generates $6,000 in revenue per patient, with three-quarters of the cost reimbursed by health insurance.

Management projects that the company will reach 42,600 patients with 52,200 cumulative visits generating $15.8 million in revenue by the end of 2022. Of course, the company aims to grow these figures to nearly 600,000 patients, one million visits, and $223 million in annual revenue by 2025 as it reaches its target footprint of over 150 clinics. Revitalist recently announced a 128% increase in patient visits for the year ending 2021.

Disciplined Growth with Vision

Revitalist believes that each clinic will generate revenue of about $3 million with EBITDA of $1 million and 70% gross margins. In addition, since there are minimal upfront capital costs, these acquisitions are very quickly accretive. As a result, the company plans on breaking even over the next two years—not the 5+ years most medical companies take.

While many emerging psychedelic companies carry a lot of debt, Revitalist reported $3,701,190 in shareholders’ equity, as of September 30, 2021, with no non-lease-related long-term debt. The clean balance sheet means that shareholders don’t need to worry about a large debt load or other toxic debt that could be difficult to emerge from in the future.

Click here to learn more about investing in Revitalist

In addition to its disciplined growth, its management team is continuously looking to the future. For instance, the company recently acquired a 60% interest in Revitaland Meta Tech Inc. to create virtual clinics in the metaverse. These capabilities could dramatically expand its addressable market to those not located near one of its clinics.

Looking Ahead

Revitalist Lifestyle & Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) offers investors a unique opportunity to capitalize on the psychedelic revolution. Rather than incurring a lot of debt and then waiting for FDA approvals, investors can partake in a business that’s already generating revenue and approaching profitability in the space.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, British Columbia, October 07, 2021–(BUSINESS WIRE)–REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company“) (CSE: CALM) (CSNX: CALM.CN) (OTC: RVLWF) is pleased to announce that it entered into a non-binding letter of intent (“LOI“) dated October 5, 2021 to acquire a ketamine clinic (“Acquisition“) located in Richmond, Virginia (“Clinic“).

The Clinic was founded in 2019 and is an established practice managed by Dr. Randy Frederick, a board-certified Emergency Medicine physician and US Navy Veteran. The Clinic provides ketamine infusion treatments for many mood disorders, including depression, post-partum depression, bipolar depression, PTSD, OCD, and anxiety. They also treat chronic pain syndromes like chronic migraines, CRPS (formerly called RSD), fibromyalgia, phantom limb syndrome, trigeminal neuralgia and post-herpetic neuralgia. Since inception, the Clinic has provided over 1,500 infusions.

Under the contemplated Acquisition, Dr. Frederick will continue to manage the Clinic and utilize his medical license to open future clinics for the Company. The Clinic would be supported alongside the Company’s existing network of clinics, raising the profile of Revitalist’s brand and approach to patient care in the United States.

Pursuant to the terms of the LOI, the consideration contemplated for the Acquisition is estimated to be $1,000,000. The consideration is proposed to be payable as approximately $750,000 in common shares of Revitalist, $50,000 in cash, and the assumption of $250,000 in debt. The share consideration will be issued at the greater of $0.50/share and the 20-day volume weighted average share price preceding the issue date. The consideration shares will be issued 50% in 12 months and 50% in 24 months following the closing of the Acquisition.

Management Commentary

Kathryn Walker, CEO of Revitalist, commented: “We look forward to completing this Acquisition and utilizing Dr. Fredericks medical expertise to grow our business. We expect that the addition of Dr. Frederick will yield further expansion opportunities across the United States. This Acquisition fits perfectly within our strategy to grow our clinic footprint organically through a combination of build vs. buy. Dr. Frederick’s Clinic is the first of many established ketamine clinics that we intend to acquire and rebrand under the Revitalist platform.”

Dr. Randy Frederick, founder of the Richmond, Virginia Clinic, commented: “I am excited for the opportunity to bring my clinic and skillset to Revitalist. I plan on utilizing my experience in the US Navy, years of medical training, and knowledge of running a profitable ketamine clinic to facilitate Revitalist’s growth plans.”

*all figures expressed in Canadian dollars unless otherwise noted.

ABOUT REVITALIST LIFESTYLE AND WELLNESS

Revitalist Lifestyle and Wellness Ltd. is a publicly traded (CSE: CALM) (OTC: RVLWF) company, headquartered in Knoxville, Tennessee, with five clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided over 7,000 infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness.

On Behalf of the Board
Kathryn Walker
Chief Executive Officer

For additional information and to be added to the Company’s mailing list, please click here.

Forward Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “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 statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005847/en/

Contacts

Revitalist Lifestyle and Wellness Ltd.
Investor Relations
[email protected]
(865) 585-8414

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.