BUFFALO, N.Y., April 22, 2020 (GLOBE NEWSWIRE) -- Omnia Wellness, Inc. (OMWS, Financial) announced today that it has entered into a Share Exchange and Reorganization Agreement with Bed Therapies, Inc., a Denver-based private company specializing in innovative massage technology, and the shareholders of Bed Therapies. Pursuant to the Exchange Agreement, Omnia Wellness will acquire 100% of the issued and outstanding shares of capital stock of Bed Therapies, and the shareholders of Bed Therapies will exchange such shares for newly issued shares of Omnia Wellness, with the result that the former shareholders of Bed Therapies would own approximately 90% of the post-transaction shares of Omnia Wellness. The closing of the transaction is expected to occur in the second quarter of 2020, subject to closing conditions set forth in the Exchange Agreement.
Omnia Wellness and Bed Therapies are seeking to consummate this transaction to position the combined company, and Bed Therapies’ subsidiary Solajet Financing Company, LLC , to better commercialize Solajet’s innovative disruptive technology - the SolaJet Dry-Hydrotherapy technology which provides deep tissue suppression, therapeutic heat and a flushing full-body “wave” combining 3 therapies in 1. Treatments are designed to deliver the similar feeling of an hour-long traditional massage in as little as 15 minutes at an affordable price point for the consumer.
It is the expectation of Omnia Wellness and Bed Therapies to create a national chain of “MassageWave® Relaxation and Therapeutic Centers”, with the first a beta MassageWave® Center expected to open in Q3 or Q4 of 2020, and “BodyStop® Recovery Zones” which are expected to be made available at fitness clubs.
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Omnia Wellness, Inc., OMWS, is a public company based in Buffalo, New York.
Bed Therapies Inc., based in Denver, Colorado, through its subsidiary Solajet Financing Company, LLC (www.solajet.com), has an innovative approach and new technology for the massage industry. While Solajet’s massage multi-modality technology is addressing needs in the chiropractic and physical therapy markets now, future plans include a national and international chain of “MassageWave®”, personal relaxation centers able to offer affordable and on-demand massage via smartphone applications.
Forward-Looking Statements
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