Columbus, Ohio and Los Angeles, California, Oct. 27, 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, further to the Company’s October 25, 2021 press release, it has also entered into a non-binding letter of intent (“LOI”) to acquire Releford Enterprises, Inc. d/b/a MLC Beauty (“Mary Louise Cosmetics”) located in Los Angeles, California.
Mary Louise Cosmetics was founded in 2017 by Akilah Mary-Louise Releford, and is an established beauty brand offering wholesome, natural, and organic skincare products. Mary Louise was founded with the mission of creating nourishing and clean beauty products that make skincare easy and fun.
Mary Louise Cosmetics products are currently available direct-to-consumer via www.mymarylouise.com as well as online and in retail through Macy’s, JCPenny, Thirteen Lune, and more. Mary Louise Cosmetics and Ms. Releford have been featured in CNBC, TechCrunch, the Los Angeles Business Journal, Cosmopolitan, Elle, Refinery29, HYPEBAE, and more.
"When I started Mary Louise Cosmetics as a side hustle in my dorm room at Howard University, I always envisioned that it would become something much larger," commented Akilah Releford, Founder and CEO of Mary Louise Cosmetics. "I'm excited for what the future holds with Better For You Wellness, as the deal will allow the brand to grow to new heights."
Pursuant to the terms of the LOI, the consideration contemplated for the acquisition is to be paid entirely in restricted common shares of Better For You Wellness, Inc. to be issued following the closing of the acquisition. Under the LOI, Ms. Releford will continue to represent and guide Mary Louise Cosmetics as its Chief Visionary Officer and utilize her expertise to launch future products and initiatives for the brand. 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.
“The planned acquisition of Mary Louise Cosmetics has tremendous synergies with Ironwood Clay Co. ranging from potential COGS-reducing supply chain efficiencies to new product development and testing.” commented Ian James, Chief Executive Officer of Better For You Wellness, Inc. “With skin being our largest organ, Better For You Wellness is quickly assembling a profitable vertically-integrated powerhouse within the natural beauty and skincare sectors, initially targeting three core consumer wellness goals of better appearance, better nutrition, and better health.”
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/).
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