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The company continues to expand its national network of psychedelic mental health care clinics
LOS ANGELES, DECEMBER 9, 2022 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) Completed the acquisition of the assets of Clare Clinic, Inc., d/b/a Florida Mind Health Center.
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The Company has entered into an acquisition agreement (the “Agreement”) effective October 30, 2022 with Clare Clinic, known as the Florida Mind Health Center. Panama City, Florida.
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The clinic joins Irwin Naturals Emergence, a fast-growing national chain of psychedelic mental health care that currently includes eight clinics in Florida.
Klee Irwin, CEO of Irwin Naturals, said: This is his eighth ketamine clinic to add to his growing portfolio in Florida and he has 17 clinics he has acquired in over 10 states or has final agreements to acquire in the near future. is part of Our mission is to make this amazingly effective treatment available nationwide and beyond. We continue to grow our revenue through increasing transactions. “
Zohar Levites, CRNA, ARNP, MS, founder of Florida Mind Health Center, said: Nationwide. As an Irwin Naturals Emergence partner, you’ll be able to offer cutting-edge service and personalized care in the name of the home brand that customers have trusted for decades. “
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Building a nationwide chain creates some efficiencies and cost efficiencies through economies of scale. Incorporating Irwin Naturals best practices over time reduces operating costs, which can be passed on to customers by offering sliding-scale discounts.
terms of trade
As consideration for the asset purchase, Irwin Naturals will provide the seller with a cash payment and 1,500,000 subordinated voting shares at closing. In addition, the transaction includes additional contingent consideration based on future milestones related to operational and profitability targets to be achieved with the stock.
About Irwin Naturals
Irwin Naturals has been a household name and formulator of best-in-class herbal supplements since 1994. It is now leveraging its brand to tap into both the cannabis and psychedelic industries. With a mission to heal the world with botanical medicine, Irwin has been profitable for over 27 years.1 Irwin’s growing product portfolio is available at over 100,000 retailers in North America where nearly 100 million people know the Irwin Naturals brand.2 In 2018, the company first tapped into the cannabis industry by leveraging its brand by bringing hemp-based CBD products to the mass market. The company is now leveraging the renowned brand trust halo, with the aim of becoming one of the first in-home brands to offer THC-based products and psychedelic mental health treatments. Became a public company on the Canadian Stock Exchange (CSE) in August. The company’s shares began trading on his OTCQB Venture Market in November 2021. Find out more about the company’s stock. Via Bloomberg similarly wall street journal.
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For investor-related information about our company, please see: ir.irwinnaturals.com/
To contact our Investor Relations Department, call us toll-free at (800) 883-4851 or email us at [email protected].
“Klee Irwin“
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Klee Irwin
Chief executive officer
Phone: 310-306-3636
[email protected]
IR information
press contact
Irwin Naturals Investor Information
Cassandra Basanetti-Drum
Phone: 310-306-3636
[email protected]
Regulatory overview
Below is a brief summary of the regulatory requirements for ketamine in the United States (“US”). Under the Controlled Substances Act (21 USC § 811) (“CSA”), ketamine is currently a Schedule III drug and is listed under the relevant drug control regulations, and psilocybin is currently a Schedule I drug.
Most states in the United States have enacted controlled substance laws (“state CSAs”), which regulate the possession, use, sale, distribution, and manufacture of certain drugs or classes of drugs, and state CSAs. It sets penalties for violations and is the basis for many state and local regulations. Drug Law Enforcement Activities. A state’s CSA employs a drug schedule that is identical or similar to his federal CSA schedule or, in some cases, incorporates federal scheduling mechanisms. Among other requirements, some U.S. states have established prescription drug surveillance or review programs that collect information about the prescription and dispensing of controlled substances for the purposes of oversight, analysis, and education.
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In the United States, facilities that store or control controlled substances must be registered with the Drug Enforcement Administration (“DEA”) to conduct this activity. As such, the health care professional and/or the clinic they operate must obtain his DEA license (“DEA License”) to obtain and administer ketamine, as appropriate. Ketamine is a controlled substance in the United States, but is approved for induction of general anesthesia under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, a physician may use it for uses other than those listed on the product’s label or other than those tested by the manufacturer and approved by the Food and Drug Administration (“FDA”). can be prescribed. Licensed practitioners can legally prescribe ketamine in Canada or the United States and believe it to be an effective treatment in their professional judgment.
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For more information on the regulatory environment and regulations surrounding the US ketamine industry, please see Irwin’s filing in SEDAR Profile.
Forward-Looking Information
This news release contains certain forward-looking statements that reflect the current views and/or expectations of our management regarding performance, business and future events. Forward-looking statements often use “may,” “will,” “would,” “could,” “should,” “believe,” or “estimate.” , ‘plan’, ‘may’, ‘expect’. ‘, ‘plan’, ‘intend’, ‘expect’, ‘targeted’, ‘continue’, ‘forecast’, ‘designed’, ‘goal’, ‘purpose’, or any of these Word negation or other similar or equivalent words. Forward-looking statements are based on then-current expectations, beliefs, assumptions, estimates and projections regarding the businesses and industries and markets in which we operate. Forward-looking statements in this news release include statements relating to information regarding our ability to perform the terms and conditions referenced herein. Receipt of all required approvals, including regulatory approvals. expectations of other economic, market, business and competitive factors; We are actually entering and operating in the US cannabis and psychedelic market. Our potential entry into these new business segments is in its preliminary stages and may be subject to approval from our Board of Directors and regulatory approvals, including the Canadian Stock Exchange. These statements are based on a number of assumptions that management believes to be reasonable under the circumstances and are subject to a number of risks and uncertainties including, but not limited to: Irwin may obtain and/or enter into business relationships to enter these new markets. Acquire the necessary licenses for your company. Changes in regulations and laws regarding cannabis and psychedelics. Further information regarding the regulatory environment and risks will be included in future disclosures. Forward-looking statements involve a number of known and unknown risks, uncertainties and may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. may be affected by other factors that may Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Accordingly, readers should not place undue reliance on the forward-looking statements and information that are fully qualified by this cautionary statement. We undertake no obligation to publicly release revisions to update any forward-looking statements, except as required by applicable securities laws.
Neither CSE nor its market regulators (as that term is defined in CSE’s Policy) assumes responsibility for the adequacy or accuracy of this release.
Source: Irwin Naturals Inc.
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1 Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for special charges.
2 Consumer brand perception information is based on company research using a randomly selected sample size of 500 adults.
