Columbus, Ohio and Richmond, British Columbia, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Better For You Wellness, Inc. (OTC: BFYW), formerly known as Fast Track Solutions, Inc. (OTC: FTRK), ("Better For You Wellness" or the "Company") an Ohio-based blank check company, is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) to acquire Ironwood Clay Co Inc. (“Ironwood”) located in Richmond, British Columbia.
Established in 1988, Ironwood is a specialized OEM skincare supplier offering private label product development, turn-key manufacturing, raw materials and bulk formulas to high-impact personal care companies across the globe, and is the leading international supplier of glacial oceanic clay. Ironwood’s NENA Skincare brand (“NENA”) is a rapidly growing natural skincare brand whose core ingredient is glacial oceanic clay. Ironwood’s Health Canada, FDA, Halal, GMP and ECOCERT/COSMOS accredited facility can produce over 500 skincare, body care, and hair care formulations and products, and is trusted by some of the world’s leading companies including Nu Skin Enterprises, Inc., Walgreens Boots Alliance Inc., and more. NENA products are currently available direct-to-consumer via www.nenaskincare.com as well as online through Amazon, Well.ca., and others, and available in hundreds of retail locations across Canada including Pharmasave, Rexall, and more. Beyond Canada, Ironwood distributes its products, ingredients and raw materials globally to the United States, China, Korea, and more.
Pursuant to the terms of the LOI, the consideration contemplated for the acquisition is to be paid in a mix of restricted common shares of Better For You Wellness, Inc. to be issued following the closing of the acquisition, and Canadian dollars (“CAD”). Closing of the transaction contemplated in the LOI will be subject to multiple closing conditions and completion of due diligence. Pending a definitive agreement, additional terms of the LOI will remain confidential.
“Better appearance, better nutrition and better health are three major wellness categories for consumers, and by making this profitable, vertically-integrated acquisition within the natural beauty and skincare space, Better For You Wellness can begin carving out market share in all three wellness categories,” commented Ian James, Chief Executive Officer of Better For You Wellness, Inc. “After all, skin is our largest organ, and what we put on our bodies is just as important as what we put in them.”
Better For You Wellness is actively exploring and evaluating numerous additional business opportunities including, but not limited to, mergers, acquisitions, or business combination transactions.
About Better For You Wellness, Inc.
Better For You Wellness, Inc. (OTC: BFYW) is a Columbus, Ohio-based blank-check Company that is exploring and evaluating various business opportunities in the food, beverage, and consumer packaged goods ("CPG") categories including, but not limited to, mergers, acquisitions, or business combination transactions, after which the Company would cease to be a "shell" or "blank check" company. Learn more at https://bfyw.com/.
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed with SEC (https://www.sec.gov/).
