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Vystar Acquires UV Flu Technologies Assets for USD 975,000
Wednesday 16 May 2018

16 May 2018 - Massachusetts, US-based Vystar Corp. (OTC: VYST), creator of products made with Vytex, has acquired substantially all of the assets of Canada-based air purification products provider UV Flu Technologies, Inc. (UVFT), the company said.
Vystar acquired all UV Flu intellectual property and multiple patents, product lines, tooling, FDA clearances, research data, websites and other assets related to the business for the purchase price of USD 975,000 or 27.918m shares of Vystar restricted common stock, which may not be assigned or sold by UV Flu for 12 months.
Vystar said it is executing a strategic plan of rapid growth through acquisitions that complement the company's product portfolio.
As part of Vystar's mission to offer eco-friendly, sustainable materials and products that create a better environment for consumers and workers throughout the product lifecycle, UV Flu Technologies is a counterpart to the company's Vytex materials and Vytex bedding products.
Vystar Corp. is the creator of a multi-patented, all-natural, raw material that contains significantly reduced levels of the proteins found in natural rubber latex and can be used in over 40,000 products. Vytex NRL is a 100% renewable resource, environmentally safe, green and fully biodegradable.
Details
Date Published: 16/05/2018
Target: UV Flu Technologies
Country: Canada
Deal Size: .975m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Stock
Status: Closed
Vendor:
Buyer: Vystar Corp
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