Vancouver, British Columbia–(BUSINESS WIRE)–REVITALIST LIFESTYLE AND WELLNESS LTD. (“revitalist“or the”Company”) (CSE: CALM) (CSNX: CALM.CN) (OTC: RVLWF) East is pleased to announce that it has reached a definitive agreement (“Merger Agreement”) to acquire Alchemy Wellness (“Alchemy”) a ketamine clinic (“Acquisition”) located in Richmond, Virginia (“Virginia Clinic”). The acquisition, which was previously announced on October 7, 2021, expands Revitalist’s footprint to 10 ketamine infusion clinics, with over 62,000 square feet of facility space in Tennessee, Kentucky, Carolina North, Michigan, Maryland, Florida and Virginia. The Virginia Clinic is located at 8639 Mayland Drive, Suite 102, Richmond, Virginia.
Kathryn Walker, CEO of Revitalist, says, “Since February of last year, we have embarked on an aggressive expansion plan and have grown from one clinic in Tennessee to ten clinics spanning seven states. With over 62,000 square feet of space, we are the largest publicly traded ketamine-focused processing chain in the United States based on clinic size.
The Virginia Clinic was founded in 2019 and is an established practice run by Dr. Randy Frederick, board-certified emergency physician and U.S. Navy veteran. The clinic offers ketamine infusion treatments for many mood disorders, including depression, postpartum 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 postherpetic neuralgia. Since its inception, the clinic has provided over 1,500 infusions. Under the terms of the agreement, Dr. Frederick will continue to manage the clinic. The clinic will be supported alongside the company’s existing network of clinics, raising the profile of the Revitalist brand and approach to patient care in the United States.
summary of transactions
Under the terms of the merger agreement, Revitalist will acquire 100% of the outstanding member interests of Alchemy through a reverse triangular merger between Alchemy and a wholly owned subsidiary of Revitalist for an aggregate purchase price of $800,000. A cash consideration equal to US$40,000 is payable on the closing date of April 1, 2022 (“Closing”). The remaining consideration to be paid will include the assumption of debt of approximately US$190,000 and the issuance of common shares in the capital of the Company (“Counterpart sharesThe Consideration Shares will be issued 50% within 12 months of closing and 50% within 24 months of closing at a deemed price of $0.50 per share for approximately 1,140,000 shares in aggregate.
ABOUT REVITALIST LIFESTYLE AND WELLNESS LTD.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is a publicly traded company, headquartered in Knoxville, Tennessee, with ten clinics operating across the United States. Revitalist is dedicated to empowering individuals toward a higher quality of well-being through a combination of comprehensive care and future-focused treatments provided by medical professionals, mental health experts and specialists in Chronic Pain. The company proudly practices translational medicine which is based on three main pillars: in the laboratory, at the bedside and in the community, with the goal of significantly improving the global health system. Since opening its first clinic in 2018, Revitalist has provided thousands of infusions to patients suffering from treatment-resistant diseases. Additionally, Revitalist offers a number of lifestyle enhancement services and vitamin infusions that can bring anyone one step closer to total wellness. For more information and to be added to the company’s mailing list, please click here.
On behalf of the board
Chief Executive Officer
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