Irwin Naturals Inc (IWINF)

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“5:00p ET 9/29/2022 - Globe Newswire
Irwin Naturals Acquiring Ketamine Media

Nation's Leading Growth Platform for Ketamine Clinics to Drive Expansion of Irwin's Emergence Clinics ChainGlobeNewswireSeptember 29, 2022
LOS ANGELES, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") today announced a definitive agreement to purchase all of the issued and outstanding shares of Keta Media, LLC dba Ketamine Media ("Ketamine Media"), the nation's leading growth platform for clinics offering ketamine-assisted therapy. With a global network dedicated to improving patient outcomes, KM has established relationships with clinics in over 45 states and three countries and connects providers and patients using a unique patient-centered approach to communication.


Irwin CEO Klee Irwin says, "While this transaction will contribute immediately to our profitability, this acquisition is driven predominantly by strategic considerations. Ketamine Media will support our mission to bring healing to people suffering from mental health disorders. We are in acquisition discussions with many clinics who tell us that Ketamine Media has been almost solely responsible for their growth, and we are excited to have them as part of the Irwin family."

Irwin anticipates that the acquisition will help accelerate the identification and completion of new potential clinic transactions and that it will be able to leverage KM's capabilities to increase utilization rates at its existing and future Emergence-branded clinics. KM's approach to education and awareness creation fit seamlessly with Irwin's mission to bring a truly disruptive therapy with significantly higher cure rates, as compared to traditional therapies, to the masses.

Chris Walden, CEO of Ketamine Media, added, "We will continue providing the high level of services our clients are accustomed to. For us, this deal will give us access to growth capital that will allow Ketamine Media to add new advisory services that will greatly benefit all our clients at a much more rapid pace. Ketamine Media wants to help encourage more collaboration within this emerging space between providers in local markets. During our discussions with Irwin Naturals, we identified a number of parallels in our belief system, including a desire to help our existing book of business to achieve the outcomes that led them to sign up with KM. We believe that Irwin Naturals will be successful in their strategy to become a leading international brand of psychedelic mental health clinics."

This Agreement is subject to certain customary closing condition and regulatory approvals. The total consideration at closing will be paid in cash consideration, including the assumption of certain debts of Ketamine Media. The total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.”