Edison Nation Acquires Fifty Percent Interest in Global Clean Solutions, LLC
May 26 2020 - 8:00AM
Edison Nation, Inc., a multifaceted ecosystem that fosters
innovation and drives IP, media and consumer products, is pleased
to inform shareholders that it has acquired a fifty percent
interest in Global Clean Solutions, LLC.
Under the terms of the Agreement, the Company
acquired a fifty percent interest in Global Clean Solutions, LLC
(“Global”), a Nevada limited liability company, through the
exchange of 300,000 shares of common stock for 50 membership units.
Simultaneously, the Company entered into a series of transactions,
whereby it would guarantee a $2.5 million line of credit to be used
for the procurement of raw materials, finished goods, and related
medical supplies.
Global is soon to launch two new brands of hand
sanitizers: (1) Purple Mountain Clean, a 100% US based product; and
(2) Blue Sky Pure. Both product lines are expected to be available
for purchase within the next 60 days.
In addition, Global is in development of a
proprietary patent-pending, hands free sanitizer stand. The stand
will be provided to customers at no cost provided the customer
commits to purchase recurring refills of its Purple Mountain Clean
Sanitizer for the sanitizer stand.
“The partnership with Global provides Edison
with a platform to broaden its offerings in the growing hand
sanitizer market, said Chris Ferguson, CEO of Edison Nation. “The
recurring refill model is also an exciting opportunity to develop
an annuity stream of revenue for the Company.”
The Company kindly advises its shareholders to
review the Current Report on Form 8-K released today through the
Securities and Exchange Commission’s website or directly on the
Company’s website at:
https://investors.edisonnation.com/all-sec-filings.
About Edison Nation, Inc.
Edison Nation, Inc. (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.edisonnationmedical.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.
Investor Relations: Aimee Carroll Phone: (484)
893-0060 Email: Investors@edisonnation.com Source: Edison Nation,
Inc.Released May 26, 2020
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