Lifeist Wellness Inc. (TSXV:LFST) entered into a definitive share purchase agreement to acquire 1000501971 Ontario Inc. from 13735346 Canada and 1000496959 Ontario Ltd for CAD 3.4 million on May 31, 2023. The consideration is payable upon the following terms: (i) CAD 1,536,707.90 in common shares of Lifeist Wellness Inc. on the basis of a deemed price of CAD 0.05 per Common Share and (ii) CAD 1,875,000 in Common Shares on the basis of a deemed price of CAD 0.05 per Common Share that would be escrowed shares and released over a period of nine months in accordance with certain milestones pursuant to the terms and conditions of the escrow agreement. The deal is subject to receipt of required TSX Venture Exchange approval. As a condition of the Acquisition, each Seller will enter into a support and voting agreement with respect to the Consideration Shares received. Lifeist Wellness Inc. will provide written notice to each Seller on how the Considerations Shares must be voted. The Voting Agreement will automatically terminate two years after the date of the closing of the Acquisition.

Lifeist Wellness Inc. (TSXV:LFST) completed the acquisition of 1000501971 Ontario Inc. from 13735346 Canada and 1000496959 Ontario Ltd on July 21, 2023.