Terra Nova Resources Inc. is pleased to announce the appointment of a Program Development Manager within WellteQ, the acquisition target seeking imminent CSE listing by way of Reverse Takeover.
Terra Nova Resources Inc. (CSE: TENO) (the “Company” or “Terra Nova”) is pleased to announce the appointment of a Program Development Manager within WellteQ, the acquisition target seeking imminent CSE listing by way of Reverse Takeover (RTO).
WellteQ, one of Asia Pacific’s most advanced digital health companies, is proud to announce the appointment of Ms Gretchen Masters as Program Development Manager. Ms Masters has recently departed nib, Australia’s third largest health insurer where she ran a team responsible for the development and delivery of Well with nib, a digital solution that is designed to motivate nib’s two million members to engage in healthier habits and decrease health risk.
WellteQ CEO, Scott Montgomery shares, “We’re delighted to welcome Gretchen to our growing team. She introduces buy-side experience to guide exactly what our largest customers, insurance companies, are seeking. We have a policy to seek gold-plated minds and experience combinations and we are proud that our team now includes Gretchen.”
Ms Masters’ experience and objectives are based on a solid foundation of research and scientific evidence, design thinking and agile methodology. Masters has experience designing digital health programs, corporate stakeholder management and customer research, which remain at the core of WellteQ’s business.
Masters explains “My aim is to prevent preventable illness. As the world changes, it’s clear that this needs to be achieved via digital channels, which is why I’m thrilled to be working with WellteQ. Health and wellbeing programmes will incorporate educational content and the principles of behaviour change to genuinely drive healthy habits relating to nutrition, physical activity, sleep and mental wellbeing. These behaviour changes will be tracked and measured, demonstrating the related improvement in the health outcomes of WellteQ users.”
As previously announced, the Company has entered into definitive agreements to acquire all of the outstanding shares of WellteQ and CBDS. The proposed acquisition of WellteQ and CBDS (the “Proposed Transaction”) will constitute a “fundamental change” under the rules and policies of the Canadian Securities Exchange. Pursuant to the rules and policies of the CSE, it is expected that trading in the Company’s common shares will be halted and will remain halted until the completion of the Proposed Transaction or the provisions of the Company’s agreements to acquire WellteQ and CBDS Agreement are terminated. There can be no assurance that the Proposed Transaction will be completed on the terms proposed or at all.
WellteQ is a leading provider of corporate wellness solutions within Asia Pacific, it has developed and grown the business on the technology and data-driven smarts to communicate personalised wellness content to a user in order to engage healthier behaviours. As an enterprise (business-to-business) model, WellteQ has two main types of corporate customer, an employer and an insurer, where they have secured large multinational brands as customers for their SaaS revenue. WellteQ white-labels its technology for consumer insurance policyholders for one of Australia’s largest private health insurers and for corporate insurance customers of Bupa, Australia. Direct services are offered to large employer customers including Willis Towers Watson APAC and employees of South East Asia’s largest bank, DBS. WellteQ are also co-developing a mental health product for the customers of one of the world’s largest pharmaceutical companies projected to launch in H1-2021.
About CBDS Health Inc.
Co-founded by Mr. Brian Leeners, CBDS is a privately-held company focused on the development of Internet of Medical Things (IoMT) connected patient applications in healthcare. Leveraging its founders’ years of experience building commercial IoT solutions, CBDS has developed an entirely new IoMT platform that can connect multiple standardized medical devices and applications to the cloud.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Terra Nova’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this document include, among others, statements relating to expectations regarding the completion of the Proposed Transaction (including the receipt of all required approvals), the listing on the CSE, the Concurrent Financing, the business plans of Terra Nova, WellteQ and CBDS and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: (a) that there is no assurance that the parties hereto will obtain the requisite director, shareholder and regulatory approvals for the Proposed Transaction; (b) there is no assurance that the Concurrent Financing will be completed or as to the actual offering price or gross proceeds to be raised in connection with the Concurrent Financing; (c) following completion of the Proposed Transaction, Terra Nova may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; (d) compliance with extensive government regulation; (e) domestic and foreign laws and regulations could adversely affect Terra Nova’s business and results of operations; (f) the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and (g) the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of Terra Nova as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Terra Nova undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
The CSE has not passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release.