Revitalist Signs LOI to Acquire Virginia Ketamine Clinic

Revitalist-CALM

VANCOUVER, British Columbia–(BUSINESS WIRE)–Revitalist Lifestyle and Wellness Ltd. (CSE:CALM)(OTC:RVLWF)(“Revitalist” or the “Company”) 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 its 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. (CSE:CALM)(OTC:RVLWF)(“Revitalist” or the “Company”). 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.

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.

Please See Disclaimer



Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, Revitalist Lifestyle and Wellness Ltd. Market Jar Media Inc. has or expects to receive from Revitalist Lifestyle and Wellness Ltd’s Digital Marketing Agency of Record (Native Ads Inc.) one hundred fifty thousand four hundred USD for 21 days (15 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on MicroSmallCap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on MicroSmallCap.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Revitalist Lifestyle and Wellness Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Revitalist Lifestyle and Wellness Ltd.’s industry; (b) market opportunity; (c) Revitalist Lifestyle and Wellness Ltd.’s business plans and strategies; (d) services that Revitalist Lifestyle and Wellness Ltd. intends to offer; (e) Revitalist Lifestyle and Wellness Ltd.’s milestone projections and targets; (f) Revitalist Lifestyle and Wellness Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) Revitalist Lifestyle and Wellness Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Revitalist Lifestyle and Wellness Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Revitalist Lifestyle and Wellness Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Revitalist Lifestyle and Wellness Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Revitalist Lifestyle and Wellness Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Revitalist Lifestyle and Wellness Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Revitalist Lifestyle and Wellness Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Revitalist Lifestyle and Wellness Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Revitalist Lifestyle and Wellness Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Revitalist Lifestyle and Wellness Ltd.’s business operations (e) Revitalist Lifestyle and Wellness Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Revitalist Lifestyle and Wellness Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Revitalist Lifestyle and Wellness Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Revitalist Lifestyle and Wellness Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Revitalist Lifestyle and Wellness Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Revitalist Lifestyle and Wellness Ltd. or such entities and are not necessarily indicative of future performance of Revitalist Lifestyle and Wellness Ltd. or such entities.