Revez Corporation Ltd. (Catalist:RCU) entered into a non-binding term sheet to acquire an unknown majority stake in Magenta Wellness Pte. Ltd. from Loy Chye Kwong, Yap Keng Leng, Kenneth and Li Guangming for approximately SGD 5.3 million on April 17, 2023. Revez Corporation Ltd. (Catalist:RCU) entered into a conditional sale and purchase agreement to acquire 60% stake in Magenta Wellness Pte. Ltd. from Loy Chye Kwong, Yap Keng Leng, Kenneth and Li Guangming for SGD 4.6 million on May 23, 2023. Post-acquisition, Loy Chye Kwong, Yap Keng Leng, Kenneth, Li Guangming and REVEZ Corporation Ltd. will own 32%, 4%, 4% and 60% respectively. REVEZ Corporation intends to fund the Proposed Acquisition through fundraising activity. As a part of the deal, Loy Chye Kwong will be appointed to the Board. The deal is subject to consummation of due diligence, approval of shareholders of REVEZ Corporation, approval of all relevant governmental, regulatory and other authorities, third party consents and employment agreements. Cheng Soon Keong of BDO Advisory Pte Ltd and Virtus Law LLP acted as due diligence provider to Revez Corporation. Virtus Law LLP acted as legal advisor, Boardroom Corporate & Advisory Services acted as Registrar and Moore Stephens LLP acted as accountant to Revez Corporation.

Revez Corporation Ltd. (Catalist:RCU) completed the acquisition of an unknown majority stake in Magenta Wellness Pte. Ltd. from Loy Chye Kwong, Yap Keng Leng, Kenneth and Li Guangming on July 4, 2023.