SYDNEY, AUSTRALIA: Bioxyne Limited (ASX:BXN) has executed a binding time period sheet with BLS and its majority shareholders to purchase well being and wellness company, Breathe Life Sciences Pty Ltd (BLS).
Consideration for the acquisition is 1,230,000,000 fully paid ordinary shares in Bioxyne Limited, at a deemed issue price of $0.03 per share. The consideration shares will be escrowed for 12 months.
BLS and its subsidiaries (Breathe Life Sciences) manufactures and commercializes plant-based wellness merchandise and supplements, collectively with CBD, hashish extracts, vitamins, manuka honey and mushroom complexes.
Breathe Life Sciences operates in Australia, the UK, Japan, and Europe (France, Germany, Spain, Switzerland, Czech Republic) with four accredited manufacturing facilities throughout three continents, and a team of 40+ people.
The acquisition of Breathe Life Sciences by Bioxyne Limited will bring collectively two of the main direct gross sales companies within the meals supplement, well being and wellness industry.
Breathe Life Sciences is known for its innovative approach to developing plant-based merchandise collectively with CBD based therapies that promote well being and wellness, whereas Bioxyne is a pioneer within the field of probiotic and diary and immune based supplements. Breathe Life Sciences is the proprietor and producer of internationally acknowledged well being brand, Dr Watson®, and Bioxyne is the proprietor of proprietary probiotic, Lactobacillus fermentum PCC®.
The acquisition will expand Bioxyne’s product vary and, importantly, catapult the corporate to be a global well being and wellness company.
Mr Tony Ho, Chairman of Bioxyne commented “This mixture of two complementary companies and geographies will transform the Company and we’re enthusiastic about the prospect to welcome Breathe Life Sciences into the Bioxyne family. This proposed acquisition is a pure match for each companies, and we glance ahead to working collectively to bring much extra innovative dietary supplements and well being options to the market. Mr Sam Watson will even be becoming a member of the board as Joint CEO and brings energy to direct sales.”
Sam Watson, CEO of Breathe Life Sciences said “We are thrilled with the chance to join forces with Bioxyne. This proposed acquisition will allow us to take our wellness merchandise and worldwide market presence to the subsequent level and proceed to present our community with high-quality, efficient options for his or her well being and wellbeing.”