Fun fact - WELL has a significant strategic partner Legendary investor Sir Li Ka-shing provided WELL instant credibility from the get go as a significant investor. CEO Shahbazi also describes him as a strategic partner - one can only hope that this relationship paves the way for other WELL endeavours in the future.
"Sir Li Ka-shing ... is a Hong Kong business magnate, investor, and philanthropist. As of June 2019, Li is the 30th richest person in the world, with an estimated net wealth of US$29.4 billion. He is the ... world's leading port investor, developer, and operator of the largest health and beauty retailer in Asia and Europe." - Wikipedia ----- Wellness Lifestyles Inc. Announces up to $7,315,961 Non-Brokered Private Placement led by Strategic Investment from Mr. Li Ka-shing
Vancouver, B.C. and Hong Kong, April 24, 2018 – Wellness Lifestyles Inc. (TSX.V: WELL) (the “Company” or “WELL”), an owner and operator of Primary Healthcare facilities and Wellness Centres in Canada, is pleased to announce that it has entered into subscription agreements for the sale of up to $7,315,961 of its common shares in a private placement led by Hong Kong business leader Mr. Li Ka-shing. The strategic investment by Mr. Li Ka-shing will be made in connection with a non-brokered private placement offering of up to 22,169,578 shares at a price of $0.33 per share for gross proceeds of up to $7,315,961 (the “Offering”). The offering price of $0.33 per share represents a 3% premium to the 10-day volume weighted average price (VWAP).
Closing of the Offering is subject to a number of conditions, including receipt of any necessary corporate and regulatory approvals, including by the TSX Venture Exchange (the “Exchange”).
Through Horizons Ventures, Mr. Li Ka-shing has invested in some of the most iconic and innovative companies of the last decade including Facebook, Spotify, DeepMind, Siri, Impossible Foods, Chromadex and Modern Meadow.
“We couldn’t be more excited to have Mr. Li Ka-shing join WELL as a major shareholder and strategic partner,” said Hamed Shahbazi, Founder and Chairman of WELL. “Mr. Li Ka-shing has an amazing track record of backing winners who are solving real problems in their respective markets. This investment reflects the material size of the global market opportunity associated with WELL’s business and its corresponding opportunity to positively impact patients to better health.”