NewGenIvf Group Ends Reverse Merger Agreement With European Wellness Investment Holdings

(RTTNews) - NewGenIvf Group Ltd. (NIVF), a comprehensive fertility services provider, announced Monday that it has terminated the binding term sheet with healthcare company European Wellness Investment Holdings Ltd. or EWIHL, regarding their previously announced reverse merger transaction.

On December 11, 2024, the Company announced its entry into a binding term sheet with EWIHL for a reverse merger, in which EWIHL would on completion hold approximately 61.6% of the Company's equity.

The completion of the EWIHL Proposed Transaction was subject to, among other matters, the completion of due diligence, the delivery of draft audited financials for the years ending 2023 and 2024 of EWIHL by March 31, 2025, and the negotiation of a definitive agreement.

As of the March 31 deadline, EWIHL had not delivered the required draft audited financial statements. Consequently, in accordance with the terms of the binding term sheet, the Company has exercised its right to terminate the proposed transaction at no cost to the Company.