Irwin Naturals Adds Five Ketamine Facilities Toward Goal To Become World's Largest Mental Health Treatment Chain

With the goal of becoming the world’s largest chain of psychedelic mental health clinics, Irwin Naturals Inc. (OTCQB: IWINF) announced the acquisition of five ketamine treatment clinics in Florida and a partnership contract with two clinics in Mexico.

The acquisition agreement is with Ketamine Health Centers Capital Group, LLC (KHC). Irwin will issue dual-class shares equivalent to 1,066,667 SVS and assume or pay off approximately US$1.6M of debt at closing. It will also pay up to US$2.5M in SVS as earnings-based incentives. KHC will be entitled to receive an additional payment equal to the value of 10 times the contracting entities’ 2022 EBITDA less the value of the closing consideration shares at the time of closing.