Merger creates one of the lowest cost Domestic Suppliers of Hypochlorous Acid. Demand for surface disinfectants forecasted to significantly increase to $1.5 billion/year by 2027*
Ft. Lauderdale, Florida, June 17, 2021 (GLOBE NEWSWIRE) -- American Health Protection, Inc., a private company (AMHP), has completed its merger with a wholly owned subsidiary of EWLL (OTC.PK: EWLL). EWLL will be filing the signed articles of merger with the appropriate state authorities in the next days. Subsequent to those filings, the Company will file the completed corporate action application with FINRA for its approval of EWLL’s name change to American Health Protection Corp. and other announced corporate actions in the Company’s DEF 14C filed with the SEC on April 19, 2021. EWLL anticipates it may take until mid-late fall for these corporate actions to be approved by FINRA, which approval requires the Company to be current in its reporting obligations under the Exchange Act. The Company has made significant progress in becoming current with a goal of being completely current in or about August 2021.
AMHP, through its Administrative and Finance Agreement with Tritanium Labs USA, LLC, a private company, should benefit from Tritanium’s right to the equipment that produces Hypochlorous Acid (HOCL) at potentially the lowest available cost of production, producing HOCI for cents/gallon. HOCL is a natural disinfectant that can eliminate bacteria and viruses while preserving the environment. The product’s average selling price is typically over $10/gallon. The Company’s plan is to set up a nationwide franchising operation to supplement Tritanium’s existing distribution network through Costco among other US major retailers. David Markowski, CFO of EWLL, stated: “We believe HOCL should be an ideal product as the US emerges from the Covid-19 Pandemic. We believe our relationship with Tritanium should enable us to be a low-cost supplier of the “best in class”, environmentally friendly disinfectant. We believe we should be well positioned to benefit from the recently passed Pandemic Relief Bill that allocates substantial monies for domestic PPE producers such as Tritanium. Even as the country unmasks, we continue to believe disinfectant and sanitizer use will continue to surge and expect that AHMP will become a significant factor in the market.
*According to a recent Fortune Business Insights Article dated 12/8/20 the market for surface disinfectants will reach $1.5 billion in 2027, compared to $770 million in 2019. The Company believes increased disinfectant use represents permanent change as the Pandemic lessens. The Company‘s access to what it believes will be the lowest cost production of this environmentally friendly product, HOCL, should position AMHP, as a wholly owned subsidiary of EWLL, for rapid growth.
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