- Irwin Naturals (IWIN) completes acquisition of Midwest Ketafusion
- Each proportionate voting share is convertible into 100 subordinate voting shares of the company
- Midwest Ketafusion’s management team will remain in place following the acquisition
- The value of Irwin shares is based on the volume weighted average closing price
- Its mission is to help our patients have a better tomorrow by providing the most advanced care available on the market
- Irwin Naturals Inc. (IWIN) is trading at C$3.60 as of March 16 at 1:24 pm ET
Irwin Naturals Inc. (IWIN) has completed the acquisition of its first ketamine clinic, Midwest Ketafusion.
In consideration of the acquisition, 7,500 proportionate voting shares of the company were issued.
Each proportionate voting share is convertible into 100 subordinate voting shares of the company.
Ketafusion, located in Iowa City, Iowa, is a profitable ketamine clinic with a strong track record. The clinic will be rebranded as “Emergence by Irwin Naturals.”
Irwin’s Chief Executive Officer, Klee Irwin, said, “We intend to leverage our first-mover advantage into the ketamine space as a household brand known by over 100 million North Americans and create the largest chain of clinics.”
“We are pleased to welcome the Ketafusion team as part of the Irwin Naturals family and look forward to informing our shareholders as we continue to execute and accelerate our growth,” added Irwin.
Midwest Ketafusion’s management team will remain in place following the acquisition.
The shareholder of Ketafusion will be eligible to receive additional consideration based on certain conditions.
First, if in the first five years after closing, Ketafusion earns an adjusted EBITDA of USD $1 million during a calendar year in the allotted period, Ketafusion would receive Irwin shares having an aggregate value of USD $5 million.
The value of Irwin shares issued for the above mentioned additional consideration is based on the volume-weighted average closing price of the subordinate voting shares on the facilities of the CSE or such recognized Canadian or other senior stock exchange on which the subordinate voting shares are then trading for the five trading days immediately before the date the clinic satisfies the applicable conditions or such other price as may be mandated by the applicable policies of such exchange.
Its mission is to help our patients have a better tomorrow by providing the most advanced care available.
Midwest Ketafusion®️ is an infusion clinic that offers intravenous (IV) ketamine for the treatment of depression, PTSD, OCD, anxiety, bipolar disorder, migraines, and multiple chronic pain conditions such as complex regional pain syndrome (CRPS), reflex sympathetic dystrophy (RSD), and fibromyalgia.
Irwin Naturals Inc. is a household name and best-in-class herbal supplement formulator since 1994 that is leveraging its brand to enter the cannabis and psychedelic industries.
Irwin Naturals Inc. (IWIN) is trading at C$3.60 as of March 16 at 1:24 pm ET.
