WELLNEX LIFE LIMITED (WNX)

The suspension of trading in the securities of Wellnex Life Limited will be lifted from the commencement of trading on Friday, 8 March 2024 following lodgement of its s Appendix 4D and Half Year Report.

The Company releases a notification regarding unquoted securities.

The Company releases a notice of application for quotation of securities.

The Company releases a Cleansing Prospectus.

Highlights of the half-year report and trading update are as follows: Revenue for the first half of FY24 was $5.7 million with all revenue derived from Company's owned brands and IP licensing. Wellnex has pivoted away from all previous business involving brokerage at the commencement of FY24 effecting the revenue for this period which was further impacted by the delay in the Pain Away acquisition. Loss from operations was $9.8 million which was primary driven by non-cash expenses of $3.3 million and one-off expenses involving Pain Away transaction and inventory provisions of $1.8 million. Net Assets of the Company up to $6.5 million including a 60% increase in inventory holdings to $5.0 million. Strong start to the second half of FY24 with brand sales for the first 2 months of $2.3 million at a margin of 45%. February brand sales were $1.43 million and an operating profit $301,000. Sales for March are budgeted to be $1.7 million in brand and a further $800,000 in IP licensing revenue. Strategic decisions made in the first half of FY24 coupled with the completion of the Pain Away transaction has transformed the Company where we will see increasing revenue, margins and profitability.

The company lodges its Half Yearly Report and Accounts.

The company releases a notice of proposed issue of securities.

The securities of the company will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Friday, 1 March 2024, for not lodging the relevant periodic report by the due date. If the report is lodged between the closure of the market announcements office on Thursday, 29 February 2024, and the imposition of the suspension, the entity's securities will normally be reinstated to quotation on the next trading day after the suspension is imposed.

The suspension of trading in the securities of Wellnex Life Limited will be lifted immediately following the release by WNX of an announcement regarding a capital raising and a material acquisition.

Wellnex successfully completes the strategic and financially compelling acquisition of Pain Away. Entitlement Offer and Shortfall Offer raise $13.6 million with additional interest received from institutional and sophisticated investors post Entitlement Offer allowing Wellnex to raise approximately $3.5 million through a placement to fund working capital and growth initiatives. Acquisition adds to significant Company milestones in the past six months.

The company releases the results of its meeting.

The company releases a notification regarding unquoted securities.

The company releases a notice of application for quotation of securities.

The company releases an updated notice of proposed issue of securities.

The company releases a notice of proposed issue of securities.

The company releases an updated notice of proposed issue of securities.

Entitlement Offer and Shortfall Offer raises $13.6 million. Entitlement Offer raises approximately $3.2 million with firm commitments received for $10.4 million Shortfall Offer. Funds raised allow for completion of the Company's Pain Away acquisition and additional working capital. All Wellnex Directors participated in the Entitlement Offer in addition to the Company's major shareholder Homart Pharmaceuticals.

The company releases an updated notice of proposed issue of securities.

Wellnex Entitlement Offer closes with approximately $3.1 million raised. All Wellnex Directors participated in the Entitlement Offer in addition to the Company's major shareholder Homart Pharmaceuticals. Approximately $10.5 million to be placed with sophisticated and professional investors under Shortfall Offer who previously provided advanced commitments.

The company releases a supplementary prospectus.

The company releases an Investor Presentation.

The company releases separate letters regarding the entitlement offer to its eligible and ineligible shareholders.

Entitlement Offer to raise up to $13.6 million opens today. Pro-rata non-renounceable 1:1 Entitlement Offer to Eligible Shareholders together with 1 attaching option for every 3 Entitlement Shares issued. Funds raised will be used to fund the acquisition of Pain Away and pay for the costs in connection with the Entitlement Offer and the Pain Away transaction. Eligible shareholders can request an electronic copy of their personalised Entitlement Offer Form here. Wellnex CEO - George Karafotias and Managing Director - Zack Bozinovski will be holding a live shareholder briefing today, Friday 17 November at 12.00pm (AEDT). Register here.

The company's General Meeting will be held on Thursday, 14 December 2023 at 11.30 am (Melbourne time) at Holding Redlich Level 8, 555 Bourke Street, Melbourne VIC 3000.

Wellnex to acquire Pain Away for $20.85 million total consideration (plus inventory to a targeted value of $1.15 million). To be funded through a $13.6 million equity raising, drawing on existing funding facilities and current cash reserves. Strategically and financially compelling acquisition that delivers significant growth for Wellnex and repositions the business as a leading health brand. Interest and commitments from Wellnex directors and largest shareholder, Homart Pharmaceuticals, to participate in the entitlement offer. Target return to trading on ASX on Monday, 11 December 2023.

The company releases a notice of proposed issue of securities.

The Company releases a prospectus that is being issued for the following offers: a pro-rata non-renounceable Entitlement Offer to Eligible Shareholders to raise up to $13.6 million (before costs), on the basis of 1 Entitlement Share (at an issue price of $0.028) for every 1 Share held on the Record Date, together with 1 free Entitlement Option (exercisable at $0.05 and expiring 30 June 2025) for every 3 Entitlement Shares issued; an offer of remaining Shortfall Shares (if any) not taken up under the Entitlement Offer; an offer of 20,000,000 Consideration Shares to the Pain Away Seller under the Sale Agreement; an offer of 20,000,000 Consultant Shares to the Pain Away Seller in connection with the Transitional Services; an offer of 70 million Advisor Options (exercisable at $0.05 and expiring 1 January 2026) to the Company's Joint Lead Managers and the Noteholder (and/or their nominee(s)); an offer of 23,571,428 Homart Shares, and 26,190,476 Homart Options (exercisable at $0.05 and expiring 30 June 2025). Closing date is at 5.00pm (AEDT) on 28 November 2023.

The company releases a notice of application for quotation of securities.

Wellnex was unable to obtain the required waiver from Listing Rule 7.3.4 and thus was unable to complete the Pain Away transaction by the October 2023 sunset date. Wellnex has successfully negotiated a variation with the vendors of Pain Away, under which the vendors have agreed to further extend the sunset date to 8 December 2023, to allow the Company to meet all requirements to complete the transaction. As part of the variation, the Company has also agreed to issue the 20 million consideration shares upfront. The Company has today issued 20 million fully paid ordinary shares to the Pain Away vendors. The consideration shares are subject to voluntary escrow until 31 May 2024. Wellnex intends to launch a pro-rata non-renounceable rights issue, that will allow the Company to complete the acquisition of Pain Away by the revised sunset date.

The company releases a notification of cessation of securities.

The company releases its Appendix 4G and Corporate Governance Statement.

The company lodges its Annual Report to shareholders.

The company lodges its Appendix 4C and Quarterly Report for Sep 2023 Quarter.

The company releases a notification of cessation of securities.

The company releases a notice of application for quotation of securities.

Agreement signed for the acquisition of Pain Away reducing upfront payment and dilution to shareholders. Pain Away completion payment of $12.8 million plus inventory with a deferred consideration of 2 equal payments of $2.9 million in 12 and 18 months from the completion date. Wellnex as part of the consideration will issue 20 million fully paid ordinary shares escrowed till May 2024. Planned Settlement date of 20 October 2023. In the process of restructuring Convertible notes to extend term a further 12 months till July 2025, with in principle terms agreed with the largest note holder. Through Wellnex's Australian lead manager Barclay Pearce Capital, the company has received an offer from a UK Financial and Nominated Advisor to commence a London Stock Exchange listing process in 2024 (subject to completion of due diligence).

Revised terms for the proposed acquisition of Pain Away reducing upfront payment by $5.85 million thus reducing dilution to shareholders. Pain Away completion payment of $12.8 million plus target inventory of $1.15 million with a deferred consideration payable of $5.85 million payable in 2 equal instalments over an 18-month period. Wellnex as part of the consideration will issue 20 million fully paid ordinary shares escrowed till May 2024. Sunset date for transaction is 16th of October. Barclay Pearce Capital has been engaged to lead the capital raising to complete the acquisition.

On 1 September 2023, parties have mutually agreed to further extend the deadline of completion to 30 September 2023 whilst parties are negotiating revised terms. The negotiations are at the final stage and the Company expects to announce the revised terms by Monday, 18 September 2023.

Regarding the acquisition of Pain Away, parties have mutually agreed to further extend the deadline of completion to 30 September 2023 whilst parties are negotiating revised terms. The negotiations are at the final stage and the Company expects to announce the revised terms by no later than Friday, 8 September 2023. Wellnex is in the process of completing the shortfall offer under the pro-rata non-renounceable entitlement offer. The Company expects the voluntary suspension to be lifted following completion of the Pain Away transaction.

The Company refer to the results announcement released earlier today and makes the correction so that the third bullet point under "˜Summary Highlights' should read as: "Underlying EBITDA loss at circa $5.0 million."

The company lodges its Appendix 4E Preliminary Final Report.

Parties have mutually agreed to extend the deadline of completion of the acquisition of Pain Away to 14 August 2023 to allow parties working through conditions precedent to the transaction. Wellnex has completed the pro-rata non-renounceable entitlement offer and is in the process of completing the shortfall offer and institutional placement as previously announced.

The company lodges its Appendix 4C and Quarterly Report for June 2023 Quarter.

The company releases a notice of application for quotation of securities.

Entitlement Offer closed on 18 July 2023 and raised $465,656. Shortfall offer to raise up to $4,830,878. Interest received from institutional and sophisticated investors.

The company releases an Appendix 3B - Update on Entitlement Offer Timetable.

The company releases a notification regarding unquoted securities.

The company releases the results of its meeting.

Wellnex has further expanded its product offering with: Initial products released for new sleep segment brand Nighty Night, four new products added to the Wakey Wakey product range. Ranging and purchase orders have already been received from major retailers in both the grocery and pharmacy channels for these new products. The additional Wakey Wakey-branded products will build on the impressive growth in its sales since launch in October 2021. Nighty Night will take advantage of the growing demand for products assisting the body in achieving a good night's sleep.

The company releases an updated notice of proposed issue of securities.

The company releases a supplementary prospectus.

The company provides clarification regarding prior announcements and releases an updated timetable.

The company will hold an investor webinar on 4 July 2023 at 10:30AM AEST.

Wellnex extends Supply Agreement with Haleon with additional products and global expansion into UK, Ireland and the UAE. This builds on the initial Supply Agreement for Australia and New Zealand of its existing paracetamol soft gel liquid analgesic. Haleon is a world leader in consumer health. Validation of Wellnex's business model of being the owner of healthcare brands and IP for Australian and global markets.

The company releases separate letters to eligible and ineligible shareholders in relation to the entitlement offer.

The Entitlement Offer opened today, Thursday 22 June 2023, and will close at 5.00pm (AEST) on 12 July 2023 (unless extended). The Company dispatched a prospectus in relation to the Entitlement Offer.

The company releases a letter to its optionholders advising of the last day to exercise their options in order to participate in the company's entitlement offer.

The company releases a notice of proposed issue of securities.

The indicative timetable for Entitlement Offer, as set out in the Prospectus, has been amended as follows: the "Ex" Date for the Entitlement Offer is now Friday, 16 June 2023; the Record Date for the Entitlement Offer is now Monday, 19 June 2023 at 7.00pm (AEST); and the opening date of the Entitlement Offer (and the date on which the Prospectus and application forms are sent to eligible shareholders) is now Thursday, 22 June 2023. All other dates in the indicative timetable set out in the Prospectus remain unchanged.

The company issues a prospectus for the following Offers: an offer of up to 55 million Shares, and up to 27.5 million free attaching options (each exercisable at $0.10 and expiring 24 months from the date of issue) to the Initial Placement Subscribers, on the basis of one free Attaching Option issued for every 2 Shares issued to the Initial Placement Subscribers, to raise $2.2 million (before costs); an offer of up to 400 million Second Placement Shares to the Second Placement Investors, at an issue price of $0.05 per Share, to raise up to $20 million (before costs); a pro-rata non-renounceable Entitlement Offer to Eligible Shareholders of up to approximately 106 million Entitlement Shares (subject to fractional rounding), at an issue price of $0.05 per Entitlement Share, to raise up to approximately $5.3 million (before costs), on the basis of 1 Entitlement Share for every 4 Shares held on the Record Date.

The Company's Extraordinary General Meeting will be held on Thursday 13 July 2023 at 11.00am (Melbourne time) at Holding Redlich, Level 8, 555 Bourke Street, Melbourne VIC 3000.

The Company has completed the first tranche of the Initial Placement. The Company is presently in the process of conducting a bookbuild for the Second Placement, which will be subject to shareholder approval whilst it concurrently prepares for the launch of the Entitlement Offer. The Company is currently in discussions with potential investors who may participate under the Second Placement. Settlement of the Second Placement will be conditional upon completion of the Entitlement Offer. The Company's shares will remain in voluntary suspension pending announcement of the results of the Substantive Capital Raising, which Wellnex expects to announce by 17 July 2023.

The company releases a notice of proposed issue of securities.

The company releases a notice of application for quotation of securities.

The company releases an Investor Presentation.

Wellnex has entered into a binding agreement to acquire the business and assets of Pain Away, one of Australia's leading topical pain relief brands. Pain Away generated revenue of $12.4m during the financial year ended 30 June 2022 (FY22) and is expected to generate $13.7m for the financial year ended 30 June 2023 (FY23B). The acquisition is highly complementary to Wellnex's position in the consumer healthcare industry and adds immediate scale to Wellnex's portfolio of healthcare brands and products, enhancing its competitive position. Pain Away is expected to be a highly profitable business under the ownership of Wellnex; Pain Away's contribution to FY23B EBITDA of the consolidated entity is $5.1m on a pro forma basis, after accounting for anticipated add-backs, synergies and other savings. Total purchase price of $22.0m (including $1.15m of inventory at cost), payable in cash; Wellnex intends to fully fund payment of the purchase price through equity financing. Implied acquisition at 1.5x EV/FY23B Revenue and 4.1x EV/FY23B pro forma EBITDA. On a consolidated post-transaction basis, total revenue for FY23B is expected to be $42.5m and is forecast to grow c.48% year-on-year to reach $62.9m during FY24B, with consolidated EBITDA for FY24B of $9.0m2. Completion subject to satisfaction of certain customary conditions by no later than 31 July 2023. George Karafotias, CEO of Wellnex Life, will be holding a briefing at 12pm (AEST) on Tuesday 30 May 2023, to discuss the acquisition.

The securities of Wellnex Life Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WNX, pending the release of an announcement regarding a capital raising and a material acquisition.

The suspension of trading in the securities of Wellnex Life Limited will be lifted from the commencement of trading on Thursday, 15 July 2021, following the completion of WNX's entitlement offer under a prospectus dated 13 May 2021 and a supplementary prospectus dated 1 July 2021 and the completion of the allotment and issue of shares to successful applicants under that offer.

The company releases its Pre-Quotation Disclosure.

Wellnex Life to re-commence trading under the code "WNX" on Thursday 15 July 2021. Group revenue up 21% (against PCP) for the quarter ending June 2021 to $4.65 million. Purchase orders for upcoming September quarter shows estimated revenue at ~$5.1 million, up 7.5% (against previous quarter) with further supply agreements expected to be signed and delivered in the quarter. Strong FY2021 sales from the Uganic (up 48%) and Little Innoscents (up 46%) brands supports growth. Wellnex Life operating expenses (excluding one-off expenses) down 67% in FY2021, compared to PCP.

The securities of Wellnex Life Limited are expected to be reinstated to Official Quotation at the commencement of trading at 10. 09+/-15 secs am AEST on Thursday, 15 July 2021. WNX raised $2,177,393 pursuant to the entitlement offer under its prospectus dated 13 May 2021 and supplementary prospectus dated 1 July 2021 by the issue of 14,515,931 ordinary shares fully paid at an issue price of $0.15

The company releases a notice of Application for quotation of securities - WNX.

name changed from Wattle Health Australia Limited