Wellness and Beauty Solutions Limited announced it has executed a binding heads of agreement with two private companies, Piggott Investments Pty Ltd. and Glegra Pty Ltd, to form an incorporated joint venture company, MICRO 19 Pty Ltd. to produce MICRO19 hand sanitiser products for sale. JVCo was established to meet the strong growth and expected long term demand for quality, efficacious hand sanitiser products. It brings together parties with extensive experience in the manufacture, plastics packaging, distribution and retail of personal care products. WNB's MICRO19 hand sanitiser product range was announced on 18 March 2020 and is 100% Australian owned and manufactured with raw materials and packaging sourced through Australian suppliers. MICRO19 products are effective against 99.99% of germs and the range was developed in direct response to efforts to contain the spread of COVID19. A leading pharmacy retailer has placed an opening order for MICRO19 and the company has received strong inbound demand from other retailers in Australia. As previously announced, the range includes MICRO19 Hand Sanitiser Pump in 300ml in both peach/cucumber and lavender scents, MICRO19 Hand Sanitiser in 50ml bottle in both peach/cucumber and lavender scents, and MICRO19 Room and Surface Spray 300ml orange scent. WNB has since extended the range to include MICRO19 100ml tube products. WNB anticipates that JVCo will have the ability to produce between 200,000-500,000 units a month across various pack sizes. nder the HOA, the key features of the joint venture include: JVCo will be 50% owned by WNB and 25% owned by each of the other shareholders, Piggott Investments Pty Ltd. and Glegra Pty Ltd; JVCo will have the exclusive rights to the MICRO19 product formula within Australia, including the right to sub-licence to third parties for distribution in the Australian territory; In return for providing management services to JVCo, WNB will be entitled to a quarterly management fee of $125,000 in the first quarter of operation and then $80,000 per quarter (subject to review).