JACKSONVILLE, FL / ACCESSWIRE / June 17, 2020 / Sunset Capital Assets, Inc. ("Sunset" or the "Company") (OTC PINK:SNST) is pleased to announce that it has entered into a non-binding letter of intent ("LOI") dated June 12, 2020 with Aphex BioCleanse Systems , Inc. ("Aphex") pursuant to which the parties will proceed towards a complete merger. (the "Transaction").
The final elements of the Transaction will be determined by the parties following the completion of final due diligence. The transaction is expected to have final closing by the end of July 2020. Under the terms of the LOI, all of the issued and outstanding stock, in all classes of Aphex BioCleanse Systems (the "Aphex Shares") are anticipated to be exchanged for common shares of the Public Issuer, Sunset Capital (OTC: SNST): The Company.
Effective at the closing of the Transaction, the current members of the board of directors of Aphex BioCleanse Systems will join the board of directors of the Company and the Company Directors will resign. The existing management team of Aphex BioCleanse Systems will replace the current management of the Company who will also resign.
Aphex BioCleanse Systems
Aphex BioCleanse Systems, Inc., based in Rochester NY, has developed a revolutionary disinfectant germ, virus and bug killing formulation under the Trade Name Hy-IQ which is produced through a Proprietary Trade Secret manufacturing process. Hy-IQ kills germs, viruses and even larger bugs by marshalling the natural forces of Hydrogen in a methodology never believed possible to be produced in larger scale Commercial Manufacturing Production. The base Hy-IQ formula contains no alcohol, chlorine or other chemicals, and relies on physics, not chemicals or Chemistry to kill germs, viruses and bugs. Aphex, Hy-IQ has been proven to effectively eliminate many viruses, bacteria, molds, fungi and other "bugs". David Weaver, the CEO of Aphex, says, "Hy-IQ is positioned to revolutionize the disinfecting and pesticide world at a level that can best be described as revolutionary. We at Aphex are excited about the potential to merge our Company and amazing technology into Sunset and look forward to a successful conclusion to the merger process". To learn more about Aphex and the revolutionary products, please visit online at www.aphexus.com.
Sunset Capital Assets
Sunset Capital Assets has operated as a boutique, global, investment and advisory firm headquartered in Jacksonville, FL and founded in 2012. Sunset has taken a pioneering, consulting-based approach to corporate equity investing, partnering with management teams to work to build value. Sunset Title Corporation has been in successful operation for many years. Its management has determined that the best way to responsibly build share holder value is to align itself with Aphex, whose unique and distinguished technology and global market potential could have a significant impact to its overall public capital structure.
Sunset Capital Assets, Inc.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Transaction. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
SOURCE: Sunset Capital Assets, Inc.