Btab Ecommerce Group, Inc. (OTCPK:BBTT) entered into a Letter of Intent to acquire Integrated Wellness Acquisition Corp (NYSE:WEL) in a reverse merger transaction on February 15, 2024. Under the terms of the LOI, subject to negotiation and signing a definitive agreement, WEL will issue both common and preferred shares in exchange for the shares in BTAB. Completion of the Transaction is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement, satisfaction of the conditions negotiated therein, applicable regulatory approvals and approval of the transaction by the board and stockholders of both companies.

The parties expect to announce additional details regarding the proposed Transaction when a definitive agreement is executed. Subject to the signing of definitive agreements, the Transaction is anticipated to be completed in the second half of 2024.