Better For You Wellness Inc (OTCMKTS:BFYW) stock has been outperforming the broader market over the past month with a jump of 20% in the past month. Here are key details about the company.
About Better For You Wellness
Better For You Wellness Inc (OTCMKTS:BFYW) is a Columbus, Ohio-based Company enabling a dual buy-and-build model within the wellness industry. The firm builds and operates mission-driven brands in the clean beauty sector and is under an LOI to acquire multiple companies within the clean and natural beauty category.
On Friday, BFYW stock slid 4.21% to $0.0478 with more than 54K shares, compared to its average volume of 156K shares. The stock moved within a range of $0.0410 – 0.0499 after opening trading at $0.0423.
Better For You Wellness Raises Additional Funding to Accelerate Growth
Better For You Wellness Inc on June 10, 2022, announced entering into a Securities Purchase Agreement with Mast Hill Fund L.P, a Delaware limited partnership. This Agreement will enable Mast Hill to buy a promissory note with a principal amount of $310,000 for a price of $279,000. The closing of the agreement happened on June 7, 2022.
The capital infusion from Mast Hill will give the firm operating capital, which it aims to file S-1 for making efforts to list on the national securities exchange. The financing comes close to the announcement of closing the acquisition of Mango Moi, LLC, a reputed beauty brand giving vegan, all-natural, non-toxic hair as well as body care products.
Ian James, Chief Executive Officer of Better For You Wellness, Inc said that the company is bringing together leading companies for propelling progress. James added that the financial partnership will enable them to continue growing on a strategic path to becoming a global wellness conglomerate.
“The Company is assembling its vertical of leading companies, with the recent closing of the Mango Moi acquisition further propeling our progress,” commented Ian James, Chief Executive Officer of Better For You Wellness, Inc. “The continued financial partnership from Mast Hill allows the Company to continue its growth on a strategic path to becoming a global wellness conglomerate.”
Better For You Wellness Closes Acquisition of Mango Moi, LLC
Better For You Wellness, Inc had earlier confirmed the closing acquisition of Mango Moi, LLC, pursuant to the binding Membership Interest Purchase Agreement with Amanda Cayemitte and Yapo M’be.
Founded by Haitian Americanas well as Chicago native Amanda Cayemitte, Mango Moi provides vegan, all-natural, non-toxic hair as well as body care products. The objective of Mango Moi is to make people feel empowered, and confident, especially if there is insecurity about themselves due to unrealistic beauty industry standards.
Mango Moi products are produced by harnessing high-quality ingredients including mango butter, kukui nut oil as well as murumuru butter.
Ian James, Chief Executive Officer of Better For You Wellness, Inc said that the company will continue to expand efforts in the natural beauty sector. James added that the acquisition of Mango Moi gives an established brand promising product formula, utilizingnovel, and efficacious ingredients.
BFYW stock is trading below the 20-Day and 20-Day Moving averages of $0.0478 and $0.0485 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0968.