Panacea Life Sciences Holdings, Inc. (OTCPK:PLSH) entered into an Asset Purchase Agreement to acquire PÜR LIFE Medical, Inc on September 26, 2023. The purchase price for the PÜR LIFE Medical franchise is $1 million in cash plus an additional $1.6 million payable based upon future metrics and achieving franchise sales goals. The cash is due in two tranches, $180,000 upon receipt of auditable financials and back-up and $820,000 on November 10, 2023.

This will be financed via debt and equity. In addition, Mr. Olsen retains 7% of the PÜR LIFE subsidiary in exchange for his continued services to the PLSH management team.