Justera Health Ltd. (CSE: VTAL) (OTC Pink: SCRSF) successfully finalized the acquisition of Triniti Trading Corp., the esteemed distributor of TonyMoly products in Canada (o/a TonyMoly Canada), as of November 14, 2023. The acquisition, valued at $328,000, involved a mix of cash, assumption of a loan, and issuing 4,060,000 Common Shares of Justera at $0.05 per share. A $65,000 cash payment is scheduled within 50 days of closure. A crucial Triniti employee signed an employment deal, ensuring seamless operations. The Payment Shares are subjected to gradual trade restrictions, aiming for full freedom a year post-issuance. Edward Park, CEO of Justera, expressed enthusiasm for the merger, foreseeing an expanded market and growth opportunity, aiming to introduce TonyMoly products to Justera’s customer base. For more on TonyMoly, visit: https://tonymoly.ca/.
Justera Health Ltd. (CSE: VTAL) (OTC Pink: SCRSF) (“Justera” or the “Company”) is pleased to announce it has completed the previously announced (see Press Release November 7, 2023) acquisition of all of the shares of Triniti Trading Corp. an authorized distributor of TonyMoly products in Canada (o/a TonyMoly Canada), a highly renowned beauty and skincare brand, on November 14, 2023.
The aggregate purchase price of $328,000, was satisfied by: (a) a cash payment on closing of $60,000; (b) assumption of $40,000 loan; and (c) the issuance of an aggregate of 4,060,000 Common Shares of the Company at a deemed price of $0.05 per share (“Payment Shares”). A further cash payment of $65,000 is due 50 days from the closing date. A key employee of Triniti has entered into an employment agreement with Triniti, ensuring continuity of operations.
The Payment Shares are subject to voluntary restrictions on transfer and become free trading as follows:
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(a) 25% on the date that is 4 months and 1 day from date of issuance;
(b) 25% on the date that is 6 months from date of issuance;
(c) 25% on the date that is 9 months after issuance; and
(d) 25% on the date that is 12 months after issuance.
“As we conclude the acquisition of Triniti Trading Corp. an authorized distributor of TonyMoly products in Canada, we’re pleased with the expanded market reach and synergy. This strategic milestone enhances our growth trajectory, and we’re looking forward to introducing Justera customers to TonyMoly’s outstanding products, anticipating a new era of consumer satisfaction,” said Edward Park, Chief Executive Officer of the Company
To learn more about TonyMoly, please visit: https://tonymoly.ca/.
Source: Biospace