Beyond Medical Technologies Inc C.DOCT

Under COVID, Micron to Help Produce More Respirators & Masks

[bogdansz]

Under COVID, Micron to Help Produce More Respirators & Masks

(Image via COVID Technologies Inc.) 


As confirmed cases of the COVID-19 coronavirus in Canada exceeds 30,000 and factories scramble to produce face masks, a new technology company is emerging to help medical professionals on the front lines who are treating patients. Meanwhile, this tech is getting a boost from an M&A deal with an established and well-funded tech Company. 

Micron Waste Technologies Inc. (CSE: MWM, OTC: MICWF, Forum) recently announced that it intends to acquire all outstanding securities of COVID Technologies Inc., a private company that manufactures personal protective equipment used in response to the current coronavirus pandemic. 


About the deal: 

MWM plans to use its manufacturing and development technology based out of its Delta, BC Innovation Lab to diversify its business by adding COVID as an additional business unit to its current operations. COVID’s founder will also join Micron as a member of senior management. 

The deal includes all the business, operating assets, equipment and business contracts of the Vancouver-headquartered COVID Technologies. Its will produce high quality, vapour barrier technology (masks, protective garments), that work to protect essential health care workers and first responders from biological hazards, pathogens and superbugs. 


More about COVID: 

COVID’s facility offers exactly what the world desperately needs – key pieces of protective equipment at a rapid pace. Additional products are already in the planning stages, as licenses continue to be acquired. 

COVID will support the immediate needs of the global medical community as the situation with coronavirus progresses, beginning with three-ply surgical masks and N95 respirators that are worn by healthcare works when treating patients to avoid getting sick themselves. They are called “N95 respirators” because they can block out at least 95% of particles in the air, which includes virus particles, yet to work to their best efficiency, they need to be fitted properly. 

COVID will begin production of: 

• Class 1 Protective 3ply Surgical masks equipment ASTM F2100 or F2101 guidelines
• N95 Respirators

Share consolidation: 

Micron also noted that it will roll back its shares on a 2:1 basis that should result in the Company having roughly 39 million shares outstanding, prior to closing of this deal. In exchange for COVID’s shares, Micron intends to issue 16.5 million post-consolidated common shares at $0.08 per share and issue 16.5 million share purchase warrants that will be exercisable for a price of $0.10 for a 60-month period. 


Answering the call: 

We are under an extreme global shortage of N95 respirators, as well as surgical masks, which has forced health care workers to re-use such equipment when it was designed for one-time use only. There is a high demand among overwhelmed hospitals for these resources as the coronavirus pandemic persists and Micron Waste’s backing of COVID is coming at a crucial time. Micron is a well-funded technology company with more than $3 million working capital in its reserves. 

As the world at large has been turned upside down, still reeling from the abrupt changes the virus’ spread has brought into everyone’s lives, Micron Chairman Kal Malhi stated in a news release for investors that getting personal protective equipment to the right people has become difficult, especially as countries prohibit exports. 

“We plan to cater to the Canadian market and provide equipment to first responders and the general public in Canada. I believe that personal protective equipment is here to stay and the demand for it will last long after the COVID virus is under control.” 

micronwaste.com

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.