Accrelist Ltd. (Catalist:QZG) entered into a term sheet agreement to acquire The Wellness Clinic Pte. Ltd from Verita Healthcare Group Limited for SGD 16.9 million on September 17, 2019. The consideration will be paid in cash and issue of ordinary shares of Accrelist Ltd. (Catalist:QZG) to Verita Healthcare Group Limited. The transaction will be funded through the combination of internal resources and/or the fund raising exercise. In connection with the transaction, Verita Healthcare Group Limited has also granted an exclusivity period of 12 weeks to the Accrelist Ltd to conduct due diligence. The term sheet agreement will expire on the execution of the definitive agreement or the expiry of the exclusivity period. The transaction is subject to the execution of definitive agreement, due diligence, regulatory approval, Accrelist Ltd shareholders approval and completion of fund raising exercise by the Accrelist Ltd for the acquisition. The transaction is approved by Verita Healthcare Group Limited shareholders. W Capital Markets Pte Ltd acted as financial advisor to Accrelist Ltd. Accrelist Ltd. (Catalist:QZG) cancelled the acquisition of The Wellness Clinic Pte. Ltd from Verita Healthcare Group Limited on September 17, 2020.