Wellfully completed MoU for merger with The Brandbase

Wellfully Limited (ASX: WFL) announced that it had entered into a non-binding Memorandum Of Understanding with The Brandbase to merge with Wellfully. The Brandbase is a wellness products marketing company started in Berlin whose brands comprise "Skingood Garden", a wellness-centered skincare brand, and "Natural Mojo", a wellness nutrition business.

If a merger is done, it is anticipated that TBB will improve Wellfully's revenues, increase gross margins, and significantly accelerate Wellfully's growth plan. Wellfully would buy 100% of TBB, in exchange for the issue of new shares in Wellfully, to the value of AU$1.0 million and priced at the 15-day trailing Volume Weighted Average Price at the closing of the transaction.

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