Completion and Settlement of Sale of Pain Away

Summary by AI BETAClose X

Wellnex Life Limited has announced the completion and settlement of the sale of its "Pain Away" business to Mentholatum Australasia Pty Ltd, following shareholder approval. The company will continue its liquid soft gel analgesics and contract manufacturing operations, utilizing the cash proceeds from the transaction to retire debt and support working capital for its ongoing business. Further updates regarding shareholder value will be provided in due course.

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