SYDNEY, AUSTRALIA: Bioxyne Limited (ASX:BXN) has executed a binding term sheet with BLS and its majority shareholders to acquire health and wellness company, Breathe Life Sciences Pty Ltd (BLS).

Consideration for the acquisition is 1,230,000,000 fully paid ordinary shares in Bioxyne Limited, at a deemed issue price of $0.03 per share. The consideration shares will be escrowed for 12 months.

BLS and its subsidiaries (Breathe Life Sciences) manufactures and commercializes plant-based wellness products and supplements, including CBD, cannabis extracts, vitamins, manuka honey and mushroom complexes.

Breathe Life Sciences operates in Australia, the UK, Japan, and Europe (France, Germany, Spain, Switzerland, Czech Republic) with 4 accredited manufacturing facilities across 3 continents, and a team of 40+ people.

The acquisition of Breathe Life Sciences by Bioxyne Limited will bring together two of the leading direct sales companies in the food supplement, health and wellness industry.

Breathe Life Sciences is known for its innovative approach to developing plant-based products including CBD based therapies that promote health and wellness, while Bioxyne is a pioneer in the field of probiotic and diary and immune based supplements. Breathe Life Sciences is the owner and manufacturer of internationally recognized health brand, Dr Watson®, and Bioxyne is the owner of proprietary probiotic, Lactobacillus fermentum PCC®.

The acquisition will expand Bioxyne’s product range and, importantly, catapult the company to be a global health and wellness company.

Mr Tony Ho, Chairman of Bioxyne commented “This combination of two complementary businesses and geographies will transform the Company and we are excited about the prospect to welcome Breathe Life Sciences into the Bioxyne family. This proposed acquisition is a natural fit for both companies, and we look forward to working together to bring even more innovative supplements and health solutions to the market. Mr Sam Watson will also be joining the board as Joint CEO and brings energy to direct sales.”

Sam Watson, CEO of Breathe Life Sciences said “We are thrilled with the opportunity to join forces with Bioxyne. This proposed acquisition will allow us to take our wellness products and international market presence to the next level and continue to provide our community with high-quality, effective solutions for their health and wellbeing.”