- Wellness and Beauty Solutions (WNB) has signed a licensing agreement to manufacture and sell its hand sanitiser products
- Just a few weeks ago, the company signed an agreement with Piggott Investments and Glegra to form a joint venture company called MICRO19
- The joint venture was created to produce and sell MICRO19 hand sanitiser
- Under the new licensing agreement, MICRO19 will work with Australian-owned FMI and its related company, Foghorn Brewery, to manufacture hand sanitisers
- The hand sanitisers will use the World Health Organisation’s hand sanitiser formulation and contain Ethanol
- Wellness and Beauty is up 9.09 per cent on the market this afternoon, trading for 1.2 cents per share
Wellness and Beauty Solutions (WNB) has signed a licensing agreement to manufacture and sell its hand sanitiser products.
Just a few weeks ago, the company signed an agreement with Piggott Investments and Glegra to form a joint venture company called MICRO19. The joint venture was created to produce and sell MICRO19 hand sanitiser.
Under the licensing agreement, MICRO19 will work with Australian owned FMI and its related company Foghorn Brewery to manufacture hand sanitisers.
The hand sanitisers will use the World Health Organisation’s hand sanitiser formulation and will contain Ethanol.
Under the terms of the agreement, MICRO19 will be paid a royalty for use of the trademark.
Chief Executive Officer Christine Parkes said, “a number of Australian breweries, wineries and distillers have joined traditional manufacturers to fill an urgent shortage for hand sanitiser.”
“The licencing agreement is a great way to work with another Aussie company to support Australian manufacturing and Australian made goods, whilst enhancing commercial goals for both companies,” she said.
“It is a tangible demonstration of Australian companies coming together during a crisis, the COVID-19 pandemic, to make urgently needed hand sanitiser products to help contain the spread of the Coronavirus,” she added.
On Friday, Wellness and Beauty released its quarterly update and reported lower cash receipts as a result of the recent bushfire crisis and the current COVID-19 pandemic.
Wellness and Beauty Solutions is up 9.09 per cent on the market this afternoon, trading for 1.2 cents per share at 3:41 pm AEST.