Edison Nation Announces Acquisition of Proprietary Natural Enzyme Based Cleaning Products for Consumers
March 31 2020 - 8:00AM
Business Wire
Edison Nation, Inc., a multifaceted ecosystem that fosters
innovation and drives IP, media and consumer products, announces a
Letter of Intent to acquire 5 proprietary cleaning formulas from
Synertech, Inc.
The five proprietary products from Synertech focus mainly on
consumer-based offerings. The products include a multi-purpose
surface cleaner, an essential oil scented surface cleaner, a
foaming enzyme hand soap, a pet cleanup product and a larger scale
cleaner that has potential for the commercial market, including
applications for large facilities and venues such as theme parks.
These natural enzyme-based formulas are going through
certifications.
From a sales and marketing perspective, Edison Nation will offer
these products to parents by utilizing its successful Uber Moms
brand that is available in a variety of retail outlets. In
addition, the Company has developed an extension of its new HMNRTH
brand with the launch of its LVHMN brand that will leverage its
current distribution outlets including convenience stores and
health shops to sell these products.
“We are excited to expand our cleaning and sanitation product
offerings with the acquisition of five new products. In the current
environment, cleaning, and specifically non-caustic cleaning,
continues to be even more important in our everyday lives,” said
Edison Nation Chief Executive Officer Christopher Ferguson.
As enzymatic cleaners, the Company’s new line of cleaning
products are safe and environmentally friendly. The
professional-strength bio-enzymatic formula contains natural
enzymatic bacteria that are activated on contact with stubborn
stains and odors, feeding on organic matters until they are
completely eliminated. The multi-surface formula can be used safely
on carpets, hardwood floors, furniture, leather, rugs and car
upholstery thus eliminating the need for multiple cleaners.
About Edison Nation, Inc.
Edison Nation, Inc. (NASDAQ: EDNT), is a multifaceted ecosystem
which fosters innovation and drives IP, media and consumer
products. Edison offers innovation sourcing, product design, sales,
manufacturing, and fulfillment services. Edison Nation’s model is
to source innovative ideas to launch internally or license to brand
partners. Edison Nation hopes to leverage its television property,
Everyday Edisons, to become the recognized leader in the innovator
community. For more information, please visit
www.edisonnation.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding strategy, future operations and plans, including
assumptions underlying such statements, are forward-looking
statements, and should not be relied upon as representing the
Company's views as of any subsequent date. Such forward-looking
statements are based on information available to the Company as of
the date of this release and involve a number of risks and
uncertainties, some beyond the Company's control, that could cause
actual results to differ materially from those anticipated by these
forward-looking statements, including consumer, regulatory and
other factors affecting demand for the Company's products, any
difficulty in marketing the Company's products in global markets,
competition in the market for consumer products, any inability to
raise capital to fund operations and service the Company's debt.
Additional information that could lead to material changes in the
Company's performance is contained in its filings with the SEC. The
Company is under no obligation to, and expressly disclaims any
responsibility to, update or alter forward-looking statements
contained in this release, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200331005425/en/
Investor Relations: Aimee Carroll Phone: (484) 893-0060
Email: Investors@edisonnation.com
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