Wellness Lifestyles Inc. closes oversubscribed financing and acquisition of Canada Yoga Inc.

June 15, 2017

On June 15, 2017, Wellness Lifestyles Inc. (formerly Movarie Capital Ltd.) announced that it had completed an oversubscribed private placement of units for $1.27 million and its previously announced fundamental acquisition of all of the issued and outstanding securities of Canada Yoga Inc. (“CYI”).

Wellness Lifestyles, which now owns the businesses of CYI and Shakti Yoga Apparel LLC, intends to carry on both businesses and to conduct additional non-yoga-related acquisitions in the health and wellness space with a view to developing a synergistic portfolio of brands, products and businesses.

Miller Thomson was counsel to Wellness Lifestyles in this transaction with a team led by Kathy Tang.