VANCOUVER (British Columbia), May 30, 2022–(BUSINESS WIRE)–REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO), one of the largest publicly traded ketamine clinic operations in the United States, announced its results for the quarter ended March 31, 2022, and provided a business update. All results are presented in accordance with International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise indicated.
Recorded fourteen consecutive months of growth in visits
Year-over-year sales growth of 626%
Opening of two new ketamine-assisted psychotherapy clinics
Completion of the acquisition of a clinical asset
Introduction of transcranial magnetic stimulation (“TMS”) as a treatment for pain
Launching initiatives for veterans, psychiatric nurses and first responders
Launch of a proprietary diagnostic scale
During the quarter ended March 31, 2022, Revitalist opened two new ketamine-assisted psychotherapy clinics located in Washington, DC and Jacksonville, Florida, bringing the total number of clinics to 9 and propelling Revitalist into one of the largest Ketamine-focused publicly traded companies in the United States based on clinic size.
Current Revitalization Clinic Locations:
Knoxville, Tennessee (2 locations)
Johnson City, TN
Raleigh, North Carolina
Revenue was derived from providing ketamine infusion therapy at nine ketamine-assisted psychotherapy clinics. The Company recorded a 626% increase in revenue year over year with total revenue of $1,081,541 for the three months ended March 31, 2022 (2021 – $148,985). The increase is attributable to the addition of eight clinics since March 31, 2021. Patient visits increased significantly year over year, totaling 3,120, up more than 400% compared to 2021. The company proudly announced 14 consecutive months of growth in visits.
Net cash used in operations totaled $2.06 million, reflecting the cost of operating the public company and 8 new clinics. Net cash outflows were expected and consistent with the planned cash outflows required to execute the business plan.
As of March 31, 2022, Revitalist had cash of $1.3 million and total assets of $9.6 million. On April 19, 2022, the Company closed its first tranche of a convertible debenture financing totaling $3,869,000. CEO Kathryn Walker invested $2,332,000 in the financing and waived interest payments on debentures totaling $1.9 million.
Revitalist CEO Speaks as Panelist on Globally Recognized Forum
Revitalist CEO Kathryn Walker was invited to speak at a globally recognized event advancing the psychedelic industry by focusing on advances in insurance and risk management. Purves Redmond Limited continues to bring cutting-edge insight with its third annual virtual Biotech and Psychedelic Risk and Insurance Forum, focusing on Canada, the UK, Europe and the US, highlighting the recent developments shaping trends in the biotech, psychedelic and neurological fields. -pharmaceutical industry. The panel is by invitation only and is sponsored by Purves Redmond Limited, Connor Strong and Price Forbes. The event takes place on June 8. If you would like to know more about the event, please email email@example.com.
Revitalist CEO Kathryn Walker said, “We are so proud of the growth achieved to date and are excited to see year-over-year growth as our clinical operations mature. We have recruited an exceptional team with expertise in mental health, capital markets, research and development, and commercial operations and are working diligently to ensure Revitalist’s continued success. »
ABOUT REVITALIST LIFESTYLE AND WELLNESS LTD.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly traded ketamine-focused clinical operations in the United States. Revitalist offers hope to patients with treatment-resistant pain and mood disorders through Ketamine-Assisted Psychotherapy (‘KAP’). Each clinic provides access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by healthcare professionals, mental health and chronic pain experts Since opening its first clinic in 2018, Revitalist has provided thousands of infusions of ketamine through its network of 9 clinics operating in 6 states. Its founder and CEO, Kathryn Walker, has witnessed the transformative impact of KAP firsthand and intends to offer other psychedelics For more information and to be added to the company’s mailing list, please click here.
On behalf of the board
Chief executive officer
This press release contains forward-looking statements and information within the meaning of applicable securities laws. Often, but not always, forward-looking statements and information can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”. , “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will” occur, occur or be realized. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause results, performance or achievements Revitalist’s actual results may differ materially from any future results, performance or achievements expressed or implied by any forward-looking statements or information contained in this press release.
The risks, uncertainties and other factors involved in 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 accepts no responsibility for the adequacy or accuracy of the content of this press release.
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Revitalist Lifestyle and Wellness Ltd.
Tel: (865) 585-8414