LOS ANGELES, March 16, 2023 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company"), announced today that it has terminated the non-binding amended and restated letter of intent ("LOI") for a business combination with Braxia Scientific Corp. ("Braxia"), (the "Proposed Transaction"). The Company's news release dated January 27, 2023, contained full details of the Proposed Transaction.
CEO of Irwin Naturals, Klee Irwin, expressed disappointment on the announcement but recognized the decision was based on a lack of a clear business rationale for the Company to move forward with the transaction. Despite this, he expressed his admiration for the Braxia management team and wished them well in their future endeavors.
Irwin Naturals remains committed to driving growth and value for its stakeholders and is confident in its ability to achieve its strategic objectives. The Company will continue to explore opportunities to create long-term value for its shareholders.
About Irwin Naturals
Irwin Naturals has been a household name and best-in-class nutraceutical formulator since 1994. It is now leveraging its household name to enter into the cannabis and psychedelic sectors. Irwin has operated profitably for over 28 years1. The Company's growing portfolio of products is available in more than 100,000 retail doors across North America, where over 100 million people know the Irwin Naturals brand.2 In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its brand trust with an objective to become one of the first household names in THC-based products and the world's largest chain of psychedelic mental health clinics. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company's shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company's stock can be found via Bloomberg as well as the Wall Street Journal.
For investor-related information about the Company, please visit ir.irwinnaturals.com/
To contact the Company's Investor Relations department, please call toll-free at (800) 883-4851 or send an email to Investors@IrwinNaturals.com.
"Klee Irwin"
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Klee Irwin
Chief Executive Officer
T: 310-306-3636
investors@irwinnaturals.com
IR Information
Press Contact
Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
investors@irwinnaturals.com
Regulatory Overview
The following is a brief summary of regulatory matters concerning ketamine in the United States ("US"). Under the Controlled Substances Act (21 U.S.C. § 811) (the "CSA"), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations and psilocybin is currently a Schedule I drug.
Most US States have enacted Controlled Substances Acts ("State CSAs") which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for many state and local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.
In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency ("DEA") to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a "DEA License"). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product's labeling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the "FDA"). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.
Please see Irwin's filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US ketamine industry.
Forward-Looking Information
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal", "objective," or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics; finalizing definitive, the failure to enter into binding agreements that formalize the terms of the non-binding letter of intent described in this press release. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts 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 extraordinary costs.
2 Consumer brand recognition information is based on a Company survey with a sample size of 500 randomly selected adults.
洛杉矶,2023年3月16日(环球通讯社)欧文自然公司(CSE:IWIN)(场外交易市场:IWINF)(法兰克福机场:97X)(“欧文”或“公司”),今天宣布,它已经终止了与BraxiaScience Corp.(“Braxix”)的业务合并的不具约束力的修订和重述意向书(“LOI”),(“建议交易”)。该公司日期为2023年1月27日的新闻稿包含了拟议交易的全部细节。
Irwin Naturals首席执行官Klee Irwin对这一声明表示失望,但承认这一决定是基于公司缺乏推进交易的明确商业理由。尽管如此,他对布拉夏的管理团队表示钦佩,并祝愿他们在未来的工作中一切顺利。
欧文自然仍然致力于推动其利益相关者的增长和价值,并对其实现战略目标的能力充满信心。公司将继续探索为股东创造长期价值的机会。
关于欧文·纳图拉斯
自1994年以来,Irwin Naturals一直是家喻户晓的品牌和同类最佳的营养食品配方师。它现在正在利用其家喻户晓的名字进入大麻和迷幻领域。欧文已经盈利超过28年了。1。该公司不断扩大的产品组合在北美的100,000多个零售门上销售,那里有超过1亿人知道Irwin Naturals品牌。2.2018年,该公司首次利用其品牌向大麻行业扩张,向大众市场推出以大麻为基础的CBD产品。该公司目前正在利用其品牌信任,目标是成为以THC为基础的产品中首批家喻户晓的品牌之一,以及世界上最大的迷幻精神健康诊所连锁店。欧文自然于2021年8月成为加拿大证券交易所(CSE)的上市公司。公司股票于2021年11月开始在OTCQB创业板市场交易。有关该公司股票的更多信息,请访问彭博社和《华尔街日报》。
如欲查询有关本公司的投资者资料,请浏览ir.irwinNatural als.com/
欲联系公司投资者关系部,请拨打免费电话(800)883-4851或发送电子邮件至Investors@IrwinNaturals.com。
“克利·欧文“
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克利·欧文
首席执行官
电话:310-306-3636
邮箱:Investors@irwinNaturals.com
IR信息
新闻联系人
Irwin Naturals投资者关系
卡桑德拉·巴萨内蒂-鼓
电话:310-306-3636
邮箱:Investors@irwinNaturals.com
监管概述
以下为美国(下称“美国”)有关氯胺酮的监管事宜的简要摘要。根据《受控物质法》(《美国法典》第21编第811节)(下称《CSA》),氯胺酮目前是附表三药物,也被列入相关的《麻醉药品管制条例》,裸盖菇素目前是附表一药物。
美国大多数州都颁布了受控物质法(“州CSA”),管理特定药物或类别药物的拥有、使用、销售、分销和制造,并对违反州CSA的行为进行处罚,并构成许多州和地方禁毒法律执行活动的基础。各州CSA要么采用了与联邦CSA时间表相同或相似的药品时间表,要么在某些情况下纳入了联邦时间表机制。在其他要求中,美国一些州建立了处方药监测或审查方案,收集有关处方和受控物质分配的信息,用于监测、分析和教育。
在美国,持有或管理受管制物质的设施必须在美国禁毒署(“DEA”)注册才能进行这项活动。因此,医疗专业人员和/或他们所在的诊所,如果适用,也需要有DEA许可证才能获得和管理氯胺酮(“DEA许可证”)。虽然氯胺酮在美国是受管制物质,但根据美国食品、药物和化妆品法案,它被批准用于全身麻醉诱导。一旦一种药物被批准使用,医生可以将该药物用于产品标签中没有描述的用途,或者与制造商测试并经食品和药物管理局(FDA)批准的用途不同。有执照的医生可以在加拿大或美国合法地开出氯胺酮,在那里他们认为这将是一种有效的治疗方法。
有关美国氯胺酮行业的监管环境和法规的更多信息,请参阅欧文在其SEDAR个人资料中的备案声明。
前瞻性信息
本新闻稿包含一些前瞻性陈述,反映了公司管理层对业绩、业务和未来事件的当前看法和/或预期。前瞻性陈述往往可以用“可能”、“将”、“可能”、“应该”、“相信”、“估计”、“项目”、“潜在”、“预期”、“计划”、“打算”、“预期”、“有针对性的”、“继续”、“预测”、“设计的”、“目标”、“目标”等词语或这些词语的否定或其他类似或可比词语来识别。前瞻性陈述基于当时对公司经营的业务、行业和市场的预期、信念、假设、估计和预测。本新闻稿中的前瞻性陈述包括与有关公司执行本文提到的交易条款的能力、获得所有必要的批准(包括监管批准)、对其他经济、市场、商业和竞争因素的预期以及公司实际进入并在美国开展业务的大麻和迷幻剂市场有关的陈述。本公司进入这些新业务部门的可能性尚处于初步阶段,可能需要得到本公司董事会的批准以及任何监管机构的批准,包括加拿大证券交易所的批准。这些声明基于管理层认为在当时情况下是合理的大量假设,会受到许多风险和不确定性的影响,包括但不限于:董事会和监管机构的批准,包括加拿大证券交易所的批准;欧文公司能够收购和/或建立业务关系以进入这些新市场;公司获得所需的许可证;与大麻或迷幻剂有关的法规和法律的变化;最终确定最终目标的原因包括未能订立具有约束力的协议,正式确定本新闻稿中描述的不具约束力的意向书的条款。有关监管环境和风险的进一步信息将包含在未来的披露中。前瞻性陈述会受到许多已知和未知的风险、不确定性和其他因素的影响,这些风险、不确定性和其他因素可能会导致实际结果、业绩或成就与此类前瞻性陈述明示或暗示的内容大不相同。前瞻性陈述不是对未来业绩的保证,涉及难以预测的风险、不确定性和假设。因此,读者不应过度依赖前瞻性陈述和信息,这些陈述和信息完全受本警示声明的限制。除适用的证券法要求外,公司不承担公开发布更新任何自愿前瞻性陈述的任何修订的义务。
CSE及其市场监管机构(该术语在CSE的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
资料来源:Irwin Naturals Inc.
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1在几种公司结构下,Klee Irwin自1994年以来一直在盈利地运营欧文品牌,这是根据扣除非常成本调整后的EBITDA来衡量的。
2.消费者品牌认知信息基于公司的一项调查,样本量为500名随机选择的成年人。