Wellness Lifestyles Inc. General Business Update & Advisory Agreement Share Issuance
Vancouver, B.C. – Wellness Lifestyles Inc. (TSX.V: WELL) (the “Company” or “WELL”), is a company focused on mergers and acquisitions within the Health and Wellness sectors.
Following the successful completion of its recent Fundamental Acquisition (June 15th, 2017), the Company’s Business Development team has been extensively reviewing further accretive merger and acquisition opportunities.
This review has led the Company to begin seeking acquisition targets in the areas of family practice medical clinics and health focused digital technologies within Canada and the United States.
As a result, the Company has initiated discussions with its previously announced (May 15th, 2017) Advisory Agreement group, Gravitas Securities Inc., regarding capital investment requirements.
“We are very pleased to have identified the focus for our next accretive acquisitions, and now begin the work to lock-down specific target companies” said Alex Read, CEO of the Company. “The response to our vision for Wellness Lifestyles Inc has been very encouraging and we look forward to continuing our efforts to enhance shareholder value”.
The Company which owns the businesses of Canada Yoga Inc. and Shakti Yoga Apparel LLC intends to carry on both businesses and to conduct additional non-yoga related acquisitions in the health and wellness space with a view to developing a synergistic portfolio of brands, products, and businesses that drive maximum shareholder value. The directors of the Company have extensive and highly successful track records on merger and acquisition transactions.
The Company does not have a defined timeline for the exploration of these possible strategic acquisitions and cannot provide any assurance whether or when an acquisition will be announced.
Advisory Agreement with Gravitas Securities Inc.
In accordance with the previously released (May 15th, 2017) announcement of its Advisory Agreement with Gravitas Securities Inc., the Company will issue 240,000 WELL shares at a deemed price of $0.15 per share, subject to filing with the TSX Venture Exchange. This represents payment for the monthly retainer that is payable quarterly.
All securities issued pursuant to the Advisory Agreement are subject to a hold period expiring on the date that is four months and one day from the issuance of the securities.
About Gravitas Securities Inc.
Gravitas is known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global integration and innovation, and as a leading independent wealth management and capital markets firm. Gravitas provides a wide range of investment mandates and services for retail and corporate clients globally from offices in Toronto and Vancouver and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York.
WELLNESS LIFESTYLES INC.
Per: “Alex Read”__________
Chief Executive Officer
For further information:
Wellness Lifestyles Inc.
Suite 300 – 322 Water Street
Vancouver, B.C. V6B 1B6
Alex Read, Chief Executive Officer
Phone: (604) 628-7266
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the business plans of the Company for future acquisitions and opportunities. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to carry on tits business as described and such other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.