VANCOUVER, British Columbia--(BUSINESS WIRE)--REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is pleased to announce it has acquired a 60% interest in Revitaland Meta Tech Inc. to expand virtual clinics in the metaverse (“Revitaland”). The development of Revitaland will be carried out by Metachain Technologies Inc. (“META”), a company experienced in developing applications in the metaverse who owns the remaining 40% interest in Revitaland. The Company and META have executed a management services agreement (“MSA”) to develop Revitaland with real time patients and mental health professionals.
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 Oxford University psychologist concluded that patients who used automated VR therapy experienced a 38% decrease in anxiety and avoidant symptoms over a six-week period.
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.
- 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 and 50% will be escrowed for 8 months from the launch of the virtual clinic;
- 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 and 50% will be escrowed for 8 months from the achievement of Development Milestone #2; and
- Development Milestone #3 – 1,500,000 Milestone Shares when Revitaland achieves $500,000 USD in revenue of which 50% will be escrowed for 4 months from the achievement of Development Milestone #3 and 50% will be escrowed for 8 months from the achievement of Development Milestone #3.
The Company will issue META 1 million common shares of which 50% will be escrowed for 4 months from signing the MSA and 50% will be escrowed 6 months from signing the MSA.
Matthew Connelly, CEO of META stated “A virtual clinic offers patients an alternative to traditional treatment options and also puts Revitalist at the forefront of the virtual interactive world as it relates to mental health. Our team will work closely with Revitalist to ensure patients have a quality experience when visiting Revitaland. Technology in the metaverse is changing at a rapid pace with large technology companies such as Facebook and Microsoft spending a significant amount of time and resources to deploy projects in the metaverse.”
Kathryn Walker, CEO of Revitalist and Revitaland stated “Technological advancements and the need for mental health treatments are accelerating rapidly on a daily basis. We are excited to work with META to leverage technology and develop a unique alternative to traditional healthcare which is based in the Metaverse. I’m excited about our future together and believe META is the ideal partner for our collective patients and shareholders”.
ABOUT METACHAIN TECHNOLOGIES INC.
Metachain Technologies Inc. is a private company that is focused on developing technologies in blockchain, NFT’s, crypto currency and the metaverse. Metachain’s mission is to help companies discover hidden revenue opportunities by way of tokenization, NFT’s and fully utilizing the metaverse. For more information visit www.metachaintechnologies.com.
ABOUT REVITALIST LIFESTYLE AND WELLNESS
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is a publicly traded company dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness. For additional information and to be added to the Company’s mailing list, please visit www.revitalist.com or join or social network below.
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.