Anjac Health and Beauty Services along with members of management of Apollo Healthcare Corp. entered into an agreement to acquire Apollo Healthcare Corp. (TSX:AHC) from members of management of Apollo Healthcare Corp. and others for approximately CAD 330 million on November 4, 2021. Under the terms of the transaction, holders of Apollo shares will receive CAD 4.5 in cash for each Apollo share held. Apollo's Co-Chief Executive Officers, Charles Wachsberg and Richard Wachsberg (collectively, the “Rollover Shareholders”) have agreed to exchange approximately 64% of their total Apollo Shares for equity in an affiliate of Anjac, which will represent 30% of the pro forma equity interests therein, valued at the same price as the consideration. The consideration amount will be funded from Anjac's current cash balance and a committed debt facility to be provided on closing of the transaction. Apollo will pay a termination fee of CAD 11.5 million to Anjac in case Apollo terminates the transaction.

The transaction is subject to approval by 66 2/3% Apollo shareholders, approval of the Ontario Superior Court of Justice, approval of the TSX and other customary closing conditions. Apollo's Board of Directors having received the unanimous recommendation of the independent committee, have unanimously approved the transaction and unanimously recommends that Apollo shareholders vote in favor of the transaction. The Rollover Shareholders, who hold approximately 46.6% of the Apollo shares and the remaining directors and officers of Apollo, who hold approximately 5.1% of the Apollo shares have respectively entered into hard and soft irrevocable voting support agreements to vote their Apollo shares in favor of the transaction. Apollo Healthcare shareholder approved the transaction on December 24, 2021. On January 4, 2021, Apollo Healthcare Corp has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced statutory plan of arrangement. Transaction is expected to be completed in the fourth quarter of 2021. The transaction is expected to be completed on January 7, 2022.

Raymond James Ltd. acted as financial advisor and Grant McGlaughlin and Alex Nikolic of Fasken Martineau DuMoulin LLP and Bernard Grinspan of Gibson Dunn & Crutcher LLP acted as legal advisor to Anjac. Canaccord Genuity Corp. acted as financial advisor to Apollo and provided a fairness opinion to the Board of Apollo. Lawrence D. Wilder and Adam Kline of Miller Thomson LLP acted as legal advisor to Apollo, and Cassels Brock & Blackwell LLP acted as legal advisor to the independent committee of Apollo. Cormark Securities Inc. acted as financial advisor and provided fairness opinion to the independent committee of Apollo. TSX Trust Company acted as transfer agent to TSX Trust Company. Jeausserand Audouard and Hottinguer Corporate Finance acted as Anjac's French legal counsel and financial advisor, respectively, in connection with the financing for the transaction.

Anjac Health and Beauty Services along with members of management of Apollo Healthcare Corp. completed the acquisition of Apollo Healthcare Corp. (TSX:AHC) from members of management of Apollo Healthcare Corp. and others on January 7, 2022. Apollo Shares will be delisted from the Toronto Stock Exchange and OTCQX Marketplace.