Jamieson Wellness Inc. Announces Redemption of Series A Preference Shares
TORONTO--(BUSINESS WIRE)--Jamieson Wellness Inc. ('Jamieson Wellness' or the 'Company') (TSX: JWEL) today announced that it will redeem its outstanding 2,527,121 Series A Preference Shares (the 'Preference Shares') currently held by an affiliate of DCP Capital Partners ('DCP') in connection with DCP's 2023 investment in the Company's Chinese business. The redemption will be effective on or about June 4, 2025 (the 'Redemption Date') and will be completed at a price of $40.19 per Preference Share for aggregate liquidation proceeds of $101,565,000. The Preference Shares are being redeemed in accordance with the terms of the contract, which provided DCP with the option to transact such redemption after the second anniversary of the issue date.
'As committed partners in Jamieson's China business and warrant holders, we maintain strong conviction in the Company's fundamentals and growth trajectory,' said Hwan Yoon Chung, Managing Director of DCP. 'In China, Jamieson has emerged as a formidable brand, taking significant market share from established competitors. Together, we have built a high-performing team that is capitalizing on China's rapidly evolving consumer landscape, positioning both Jamieson Wellness and DCP for continued success in this substantial market. The redemption of our Preference Shares reflects our fund's mandated investment cycle, and we are thrilled to continue our partnership via our investment in the Chinese business and our warrants. DCP has been investing in health and wellness in China for more than 30 years, and our continuing partnership with Jamieson allows us to participate in promising growth opportunities in the global VMS market.'
'Our partnership with DCP has been transformative for our China business, which grew over 50% in Q1, and nearly 80% in 2024,' said Mike Pilato, President and CEO of Jamieson Wellness. 'Together, we've established Jamieson as a respected brand in the world's second-largest VMS market, leveraging DCP's deep experience strengthening brands in China and e-commerce expertise. Their strategic counsel and local market knowledge have assisted in building an exceptional team with outstanding capabilities. The growth we're seeing in the Chinese market today isn't a temporary spike but a clear, sustainable trend that validates our strategy. The redemption of DCP's Preference Shares was included in our assumptions for 2025, and our outlook remains unchanged. With our foundation firmly in place and our complementary strengths aligned, we look forward to our continued partnership with DCP as we scale our presence in this critical market that we expect will represent a larger portion of our business in the coming years."
About Jamieson Wellness Inc.
Jamieson Wellness is dedicated to Inspiring Better Lives Every Day with its portfolio of innovative natural health brands. Established in 1922, the Jamieson brand is Canada's #1 vitamins, minerals and supplements ('VMS') brand. The Company's youtheory brand, acquired in 2022, is an established and growing lifestyle brand in the U.S. Combined, these global brands are available in more than 50 countries worldwide. The Company also offers a variety of innovative VMS products as well as sports nutrition products to consumers in Canada with its Progressive, Smart Solutions, Iron Vegan and Precision brands. The Company is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information please visit jamiesonwellness.com.
Jamieson Wellness' head office is located at 1 Adelaide Street East Suite 2200, Toronto, Ontario, Canada.
Forward Looking Information
This media release may contain forward-looking information within the meaning of applicable securities legislation. Such information includes, but is not limited to, statements related to the Company's future plans, goals, strategies, intentions, beliefs, objectives, economic performance or expectations, including with respect to its partnership with DCP Capital Partners and its effects on the Company's business, financial condition, results of operations and shareholders.
Words such as 'expect', 'look forward', 'intend', 'may', 'will', 'believe', 'estimate' and variations of such words and similar expressions are intended to identify such forward-looking information. Forward-looking information reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under 'Risk Factors' in the Company's Annual Information Form dated March 31, 2025 and under the 'Summary of Factors Affecting Our Performance', 'Forward Looking Information', Risk Factors', and 'Outlook' in the management discussion and analysis of financial condition and results of operations of the Company filed May 8, 2025 (the 'MD&A'), both of which are available on the Company's profile on SEDAR+ at www.sedarplus.ca. This information is based on the Company's reasonable assumptions and beliefs in light of the information currently available to it and the statements are made as of the date of this press release. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law or regulatory authority.
The Company cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect the Company's results. Readers are urged to consider the risks, uncertainties and assumptions associated with these statements carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. See 'Forward-looking Information' and 'Risk Factors' within the MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements.
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All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: timing of the Annual and Special Meeting, any impacts to MediPharm shareholders of the actions relating to the Applicants or Mr. McGee, and any outcomes resulting from the circumstances and information cited herein. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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