Better For You Wellness, Inc. (OTCQB: BFYW), an Ohio-based wellness company at the forefront of plant-based and science-driven innovations in the rapidly expanding $1.5 trillion wellness industry has entered into a binding Membership Interest Purchase Agreement (MIPA) with The Ideation Lab (TIL) LLC and its subsidiaries, Benzinga has exclusively learned.
TIL, an Ohio-domiciled company founded in 2019, has blazed a trail in the wellness
sector across diverse segments, including functional beverages, skincare, personal care and women's mental wellness products as well as through centralized administrative operations, ensuring seamless efficiency in its endeavors.
The transaction, valued at $3 million will be conducted entirely in BFYW stock. Under the deal, TIL shareholders will be issued preferred shares, though they may elect to receive common shares before October 1, 2023.
Key figures in TIL's leadership, including Jacob Ellman and founders Ian James and Stephen Letourneau, holding nearly two-thirds of the company's equity, will opt for preferred shares. This strategic decision aims to minimize shareholder dilution while safeguarding management continuity.
TIL's remarkable journey in centralized administrative operations has particularly
excelled in the functional beverage sector. A crown jewel of TIL, The Jordre Well, and its Stephen James Curated Coffee Collection (SJCCC), a premium coffee brand, have already made significant waves in the market, ...