HomeMarket NewsMicro Cap StocksThe Ideation Lab Purchase Brews Up Excitement for Ohio Wellness Company

The Ideation Lab Purchase Brews Up Excitement for Ohio Wellness Company

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Shouting from the rooftops, Ohio-based Better For You Wellness, Inc. BFYW announced on Tuesday the successful closure of its previously announced asset purchase agreement with The Ideation Lab, LLC and its subsidiaries.

With a victory roar, this deal marks a significant milestone for the company, positioning it for growth in the $1.5 trillion wellness industry, BFYW said.

The Ideation Lab, founded in 2019, has been at the vanguard of innovation in various wellness segments, including functional beverages, skincare, personal care, pet lifestyleย and womenโ€™s mental wellness products.

TIL has distinguished itself through visionary leadership and centralized administrative operations, ensuring optimal efficiency in its endeavors.

Pouring Over the Transaction

The transaction is valued at $3 million and it leverages BFYW series A preferred shares.

The issuance of 300,000 series A preferred shares, priced above market at $0.01 per share, ensures minimal shareholder dilution.

In return, BFYW gains perpetual rights to TILโ€™s impressive portfolio of brands, including the highly coveted Stephen James Curated Coffee Collection (SJCCC).

The APA also encompasses key sales agreements, contracts, customer and vendor agreements, formulas, intellectual property, inventory, equipmentย and centralized administrative operations, which particularly excel in the consumer packaged goods sector.

In accordance with the APA, BFYW will not assume TIL liabilities of more than $1.3 million or take possession of the legal entities or bank accounts or lease obligations.

Brewing up Excitement for the Future

SJCCC, a premium coffee brand has already secured sales channels at Kroger, Amazon, various resorts, retailersย and boutiques.

SJCCCโ€™s Kroger sales encompass a diverse range of globally sourced whole bean dark, medium, and light roasts, with the companyโ€™s K-Cups and Nitro Cold Brew undergoing evaluation by multiple national retailers.

In a jubilant tone, Ian James, CEO of BFYW, praised the transaction.

โ€œThis is a pivotal day for BFYW and its shareholders,โ€ James said. โ€œThe closure of The Ideation Lab deal secures perpetual rights to divisions and brands, including the exceptional Stephen James Curated Coffee Collection brand.โ€

Stirring Up Anticipation

TILโ€™s expansion plans include penetrating major grocery chains, retailers, and resorts, amplifying its market reach.

โ€œWe foresee significant synergies in functional beverage, mental wellness, snacks, personal care, and pet lifestyle lines in retail and hospitality,โ€ James continued. โ€œThis transaction holds tremendous potential to enhance shareholder value and achieve profitability in the near future.โ€

BFYW Price Action

Better For You Wellnessโ€™ shares traded 11.72% lower at $0.0057 per share at the time of writing on Wednesday morning.

Photo: Courtesy of krakenimages on Unsplash

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