WELL Health Technologies Corp. (TSX:WELL) entered into an asset purchase agreement to acquire Assets of INLIV Inc. from Coril Holdings Ltd. for CAD 1.8 million on June 21, 2022. Pursuant to the asset purchase agreement, WELL will pay the following consideration: (i) CAD 1,609,195 payable in cash, shares or a combination of cash and shares at WELL's sole discretion upon closing of the Transaction, subject to customary closing and post-closing adjustments; and (ii) a 120-day general holdback amount of CAD 240,375 payable in cash, shares or a combination of cash and shares at WELL's sole discretion.

INLIV had revenues of approximately CAD 7.3 million and double digit Adjusted EBITDA margins. The Transaction is conditional to INLIV's sole shareholder, Coril Holdings Ltd. to purchase WELL's shares to the extent the Transaction comprises of any cash consideration after closing of the Transaction and end of the Holdback Period on the open market over the respective proceeding 15 business day period subject to certain restrictions. INLIV is expected to be a highly accretive acquisition.

The Transaction is expected to close in Q3-2022.