SYDNEY, AUSTRALIA: Bioxyne Limited (ASX: BXN) has executed the long form Sale and Purchase Agreement (SPA) with Breathe Life Sciences (BLS) majority shareholders (who hold approximately 83% of the shares in BLS) to acquire health and wellness company, Breathe Life Sciences Pty Ltd (BLS).

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

Breathe Life Sciences operates in Australia, the UK, Japan, and Europe with 4 accredited manufacturing facilities across 4 countries (Japan, Australia, UK, and Czechia), and a team of 30+ people (see post-acquisition corporate structure below).

Completed due diligence confirms the synergies between the companies. The companies have commenced formulating a combined business development growth strategy for post-acquisition.

Completion is subject to BXN Shareholder approval and a shareholders’ meeting is expected to be held in early May 2023.

Bioxyne Limited is an Australian health and wellness products company (incorporated in 2000) with a focus on clinically effective health and wellness products particularly in the gut and immune health areas.

Bioxyne is in the consumer dietary supplements and functional foods markets through its proprietary probiotic, Lactobacillus fermentum VRI-003 (PCC*), and through its direct sales business trading as Bioxyne International, the Company has developed a range of functional food products containing ingredients sourced primarily from New Zealand.

Bioxyne’s probiotic business is supported by a manufacturing and distribution agreement with Chr. Hansen (Denmark) a global leader in the manufacturing of natural food additives and supplements products for the food, health, pharmaceutical and agriculture industries. Bioxyne has a distribution agreement for FCC with Nu-Skin Enterprises (USA) a successful worldwide direct selling company.

Breathe Life Sciences (BLS) is an Australian incorporated company that has wholly-owned subsidiaries in Japan, France, Czechia, Switzerland, United Kingdom and Australia (together, the BLS Group).

The BLS Group operates a health and wellness products and brands business focussed on naturally derived active nutraceuticals, wellness and lifestyle supplements and cannabinoid (CBD) based therapeutic goods.