MedWellAI, Inc. (MWAI): M&A transaction — Integrated Ventures acquires 51% of Healthy Lifestyle USA LLC for $350,000

MedWellAI, Inc.

Total consideration $350,000: $250,000 cash plus 97,087 INTV shares valued at $100,000 based on $1.03 closing.
MedWell to provide $182,000 interest-free operating loan and up to $300,000 advertising credit line to Healthy Lifestyle.
Selling members eligible for earn-out contingent on Healthy Lifestyle's financial performance.
New board will have four members: two designated by Buyer (MedWell/Integrated), two by Sellers.
Healthy Lifestyle, a Florida LLC formed March 2024, disclosed a liability to GetTrim.com.

item 1.01 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MedWellAI, Inc. completed an acquisition involving Healthy Lifestyle USA LLC for $350,000 (closed 2024-08-29).

Action: acquisition
Counterparty: Healthy Lifestyle USA LLC
Consideration: $350,000
Closing: 2024-08-29

Exact text from the filing

(the “Purchase Agreement”), between Medwell, Healthy Lifestyle, and the members (the “Selling Members”) of Healthy Lifestyle. The purchase price for the Membership Interests was $350,000, consisting of $250,000 in cash (the “Cash Payment”) and 97,087 shares of the Company’s common stock (the “Purchase Shares”) with a market value of $100,000. The number of

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Source: SEC EDGAR

accession 0001477932-24-005464

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