Yooma Wellness Acquires Japanese Wellness Company to

TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) – Yooma Wellness Inc. (“Yooma“) (CSE: YOOM, AQSE: YOOM), a Toronto-based, vertically integrated global wellness platform that develops and markets a portfolio of wellness brands, today announced that it has completed the acquisition of Tokyo-based Vertex Co., Ltd. (“Mountain peak“). The transaction is valued at US $ 12,000,000 and closed after market close on Friday October 1st.

Vertex sells a range of exclusive wellness products in Japan through various home shopping networks including QVC, Fuji TV, Nihon TV and others, as well as the popular online marketplaces Rakuten, Yahoo! Shopping, and Amazon, and Vertex’s own Shop-V. The acquisition adds new product lines to Yooma’s wellness offerings, increases its customer base and the size of its distribution network, and provides a place in the Japanese market for future expansion in Japan and the rest of the world. ‘Asia.

“We are very pleased that Yooma has acquired Vertex, whose business and product offerings will expand the reach of our platform in terms of size, diversity and geographic reach,” said Yooma President Lorne Abony. “This third acquisition marks the successful completion of the first phase of the strategic plan that we presented to investors earlier this year. We continue to identify and assess other potential strategic acquisitions that will benefit our platform, while focusing on integrating the exciting new brands, businesses and product lines that we have acquired over the past two months. . “

transaction details

The transaction was implemented through a share purchase agreement (the “Purchase agreement”) Between Yooma and the shareholders of Vertex entered into on October 1, 2021 (Toronto time). Pursuant to the Purchase Agreement, Yooma acquired all of the issued and outstanding securities of Vertex for a purchase price of US $ 12,000,000, US $ 2,500,000 being paid in cash at closing and the balance of the purchase price to be paid in two cash installments of US $ 6,500,000 on April 30, 2023 and US $ 3,000,000 on April 30, 2024 (the “Deferred payments“). As security for its deferred payment obligations, Yooma has given the sellers a security interest in the Vertex shares it has acquired.

Pursuant to the purchase agreement, Yooma has also agreed to make arrangements to refinance up to US $ 2,000,000 of Vertex debt by March 31, 2022. Vertex senior management has been retained and will continue to operate. carry out day-to-day activities.

About Yooma Bien-être Inc.

Yooma’s mission is to create a vertically integrated global leader in the manufacture, marketing, distribution and sale of wellness products, including hemp seed oil and ingredients derived from hemp and cannabinoids (CBD ). The company leverages strategically organized sales channels and e-commerce networks to deliver a diverse range of wellness products through operating subsidiaries in the United States, United Kingdom, France and in Japan. Learn more at www.yooma.ca.

Sender contact:
Jordan Greenberg, CEO
Email: [email protected]
Phone: 1-512-823-1678

Notice Regarding Forward-Looking Statements

All information included in this press release, including any information regarding future financial or operational performance and other statements by Yooma that express management’s expectations or estimates regarding future performance or activities, other than statements historical facts, constitute forward-looking or forward-looking information. forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date hereof. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans for the future. Whenever possible, words such as “will”, “intention”, “believe”, “the future”, “the potential”, “the plan”, “for future expansion”, “get paid “,” Continue to “or these words or other variations thereof have been used to identify this forward-looking information. Specific forward-looking statements include, without limitation, all information regarding future operating results, economic conditions and expected action plans, including statements about Yooma’s mission and strategic plan; any potential future acquisition; its expansion into any new or existing market; and the nature and direction of its activities in the future.

There are many risks and uncertainties that may affect forward-looking statements, including, but not limited to, regulatory risk in each jurisdiction in which Yooma operates or intends to operate; the uncertainties, effects and responses to the COVID-19 pandemic; use of licenses; competetion; dependence on senior management and key personnel; general corporate risk and liability; regulation of the CBD industry; changes in laws, regulations and guidelines; in accordance with the laws; limited operating history; advertising or unfavorable consumer perception; product liability, intellectual property risks; Product recalls; difficulties with forecasts; growth management; litigation; the possibility of a breakdown in the relationship between Yooma and Vertex; the difficulties of integrating Vertex into the larger Yooma organization; the availability of liquidity or any financing required to meet refinancing and deferred payment requirements under the purchase agreement; and other matters beyond Yooma’s control. Although the forward-looking statements contained herein reflect the current beliefs of management and reasonable assumptions based on information available to management at the date hereof, Yooma cannot be certain that actual results will be consistent with such forward-looking information. . Yooma cautions you not to place undue reliance on these forward-looking statements. Yooma disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Nothing herein should be construed as an offer to sell or a solicitation to buy or sell any securities of Yooma.

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