Revitalist Acquires Revitaland Meta Tech to Expand Virtual Clinics in the Metaverse
Revitalist Lifestyle and Wellness has acquired a 60% interest in Revitaland Meta Tech Inc. to develop virtual clinics in the metaverse through a partnership with Metachain Technologies Inc.. The collaborative effort aims to enhance mental health treatment options. As part of the agreement, Revitalist will issue common shares upon achieving specified development milestones, including launching a virtual clinic and generating
- Acquisition of 60% interest in Revitaland enhances market presence in virtual healthcare.
- Collaboration with Metachain Technologies is expected to provide advanced tech solutions.
- Potential for revenue growth through NFT rewards programs and virtual clinic services.
- Issuing common shares upon reaching milestones may dilute existing shareholder value.
The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence. This virtual world allows real people to gather, socialize, play and work with other people who aren’t in the same physical space. A peer-reviewed study by an
In the event META accomplishes certain development milestones listed below, (the “Development Milestones”), the Company will issue common shares (the “Milestone Shares”) within 5 business days after the applicable Development Milestone is achieved.
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Development Milestone #1 - 2,500,000 Milestone Shares when the Company successfully launches a virtual clinic of which
50% of the Milestone Shares will be escrowed for 4 months from the launch of the virtual clinic and50% will be escrowed for 8 months from the launch of the virtual clinic;
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Development Milestone #2 – 1,000,000 Milestone Shares when the Company successfully launches a rewards program in Revitaland using Non-Fungible Tokens which
50% will be escrowed for 4 months from the achievement of Development Milestone #2 and50% will be escrowed for 8 months from the achievement of Development Milestone #2; and
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Development Milestone #3 – 1,500,000 Milestone Shares when Revitaland achieves
in revenue of which$500,000 USD50% will be escrowed for 4 months from the achievement of Development Milestone #3 and50% will be escrowed for 8 months from the achievement of Development Milestone #3.
The Company will issue META 1 million common shares of which
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Forward Looking Statements
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Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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On Behalf of the Board
Chief Executive Officer
Email: IR@revitalist.com
Tel: (865) 585-8414
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FAQ
What is the significance of Revitalist's acquisition of Revitaland Meta Tech Inc. (RVLWF)?
What milestones must Revitalist achieve related to the Revitaland acquisition?
What are the expected financial impacts of the Revitaland acquisition for RVLWF investors?