Revitalist Partners with Awakn Life Sciences as First Licensee in the United States to begin Redefining Treatment for Addiction, Recovery, and Relapse Prevention in the Psychedelic Space

Rhea-AI Summary

Revitalist Lifestyle and Wellness Ltd. (CSE: CALM, OTCQB: RVLWF) has entered into a licensing partnership with Awakn Life Sciences Corp. (NEO: AWKN, OTCQB: AWKNF) to implement the KARE® protocol for treating Alcohol Use Disorder. Awakn's ketamine-assisted therapy demonstrates significant improvements over current treatment standards, achieving an 86% abstinence rate in post-treatment trials. Revitalist will incur an annual licensing fee and share revenue from services. The U.S. alcohol treatment industry, worth over $30B, faces high relapse rates, which this partnership aims to address.

Positive

• Partnership with Awakn aims to improve treatment outcomes for Alcohol Use Disorder.
• Awakn's therapy shows an 86% abstinence rate post-treatment, significantly higher than existing standards.
• Access to proprietary therapeutics and expert training from Awakn for Revitalist providers.
• Expanding operations in a large market with over 14,000 facilities generating $30B in revenue.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) announces it has signed a licensing partnership agreement with Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (‘Awakn’) to implement their KARE® protocol for those suffering from Alcohol Use Disorder seeking sustained recovery measures focused on relapse prevention.

Awakn’s proprietary ketamine-assisted therapy for the treatment of Alcohol Use Disorder was developed and validated in a Phase II a/b trial, with results announced in the American Journal of Psychiatry in January 2022. The trial delivered 86% abstinence over the six-month period post treatment versus 2% pre-trial and 25% in the current standard of care.

Under the terms of the license agreement Awakn will provide access to the proprietary therapeutics and training by their Subject Matter Experts to the Revitalist providers. Revitalist will pay an annual licensing fee and revenue share for clients seeking services through Revitalist and Awakn’s partnership.

The U.S. alcohol and substance addiction treatment industry is significant with 14,000+ treatment facilities in the country generating more than $30B in revenue. However, it is a poorly performing industry with 75% relapse rates typically seen in the 12 months post treatment. Awakn aims to improve performance of this industry by providing clinic operators with access to efficient and effective treatment option under license.

Revitalist CEO, Kathryn Walker states “With the evolution of the company and continued growth strategies with partners like Awakn Life Sciences, we hired Kevin Murray, Chartered Accountant (S.A.), as interim CFO to continue growth strategies in revenue alignment with the US health care system. Mr. Murray’s appointment fills the vacancy created by the resignation of Paul Ciullo on July 24, 2022. Walker continues, “We greatly appreciate Paul’s experience in growing the company to its current level and are excited to take it to the next level with Kevin.”

ABOUT AWAKN LIFE SCIENCES CORP

Awakn Life Sciences Corp. is a revenue-generating biotechnology company researching, developing, and commercialising therapeutics to treat substance and behavioral addictions. Awakn has a near-term focus on Alcohol Use Disorder (AUD), a condition affecting 400m people globally for which the current standard of care is inadequate. Our goal is to provide effective therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels.

www.AwaknLifeSciences.com | Twitter | LinkedIn | Facebook | www.AwaknClinics.com

ABOUT REVITALIST LIFESTYLE AND WELLNESS LTD.

Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly listed, ketamine focused clinic operations operating in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioral professionals. Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of 9 clinics operating in 6 states. Its founder and CEO, Kathryn Walker, works as a lead provider in the psychedelic space. For additional information and to be added to the Company’s mailing list, please click here, https://revitalist.com/investors

Twitter: @RevitalistCorp
Facebook @RevitalistLifestyleandWellnessLtd.
Instagram: @RevitalistCorp
LinkedIn: @RevitalistLifestyleAndWellnessLtd

On Behalf of the Board
Kathryn Walker
Chief Executive Officer

Forward Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005089/en/

For further information please contact:

Revitalist Lifestyle and Wellness Ltd.

Email: Info@Revitalist.com

Tel: (865) 585-8414

Source: Revitalist Lifestyle and Wellness Ltd.

FAQ

What is the significance of the partnership between Revitalist (RVLWF) and Awakn (AWKNF)?

The partnership focuses on implementing Awakn's KARE® protocol for Alcohol Use Disorder, aiming to enhance treatment recovery rates.

What results did Awakn's therapy achieve in clinical trials?

Awakn's therapy reported an 86% abstinence rate over six months post-treatment, compared to only 2% pre-trial.

How does the U.S. alcohol treatment market impact Revitalist (RVLWF)?

The U.S. alcohol treatment market is worth over $30B but faces high relapse rates, which Revitalist aims to address through its partnership with Awakn.

What are the financial implications of the licensing agreement for Revitalist (RVLWF)?

Revitalist will pay an annual licensing fee and share revenue from clients utilizing services through the partnership with Awakn.