EWLL Acquisition Corp., wholly owned subsidiary of eWellness Healthcare Corporation (OTC.PK: EWLL), is Merging with American Health Protection, Inc. (AMHP)

Rhea-AI Summary

eWellness Healthcare Corporation (EWLL) is merging with American Health Protection Inc. (AMHP), aiming to be a key player in the hypochlorous acid market, anticipated to reach $1.5 billion by 2027. AMHP plans to leverage its partnership with Tritanium Labs to produce hypochlorous acid at a lower cost, aiming for strong market penetration through a franchising model. The merger also includes a proposed reverse stock split of 1:2000. eWellness is optimistic about meeting SEC reporting and benefiting from pandemic-related funding for domestic PPE producers.

Positive

• Merger with AMHP positioned to enter a growing hypochlorous acid market, projected to reach $1.5 billion by 2027.
• Access to low-cost production of hypochlorous acid through Tritanium Labs.
• Plans for nationwide franchising to enhance distribution channels and market reach.
• Potential financial support from pandemic relief for domestic PPE producers.

Negative

• Proposed reverse stock split of 1:2000 may dilute existing shareholder value.
• The merger is still subject to final due diligence and SEC approval, introducing uncertainty.

EWLL plans for AMHP to be among the lowest cost, Domestic Suppliers of Hypochlorous Acid. Hypochlorous Acid, among the preferred surface disinfectants in a market, forecasted to significantly increase up to $1.5 billion by 2027 *

Ft. Lauderdale, Florida, CA, May 20, 2021 (GLOBE NEWSWIRE) -- American Health Protection Inc., a private company (AMHP) is merging with a wholly owned subsidiary of EWLL (OTC.PK: EWLL). eWellness’s management and Board of Directors will continue in the same capacity. AMHP through its administrative and financing agreement with Tritanium Labs USA LLC, a private Oklahoma based company is a leading supplier of “Made in the US” personal protection equipment such as disinfectants, masks, and hand sanitizers. The Company’s subsidiary is well financed and through its agreement with Tritanium Labs is profitable.

EWLL has filed a Definitive Information Statement with the SEC to: (i.) change its name to American Health Protection Corp. and (ii) implement a reverse split of EWLL’s common stock and convertible securities on a 1:2000 basis, among other corporate actions, which are subject to FINRA approval. The Company anticipates this may occur by the fall of this year. The Company hopes to become current on its reporting obligations with the SEC in the near term. The merger is subject to final due diligence and is anticipated to close shortly.

AMHP through its Administrative and Finance Agreement with Tritanium Labs should benefit from Tritanium’s right to the equipment that produces Hypochlorous Acid (HOCL) at the lowest cost of production. HOCL is a natural disinfectant that can eliminate bacteria and viruses, while preserving the environment. Tritanium’s equipment produces HOCI for cents/gallon. The product’s selling price averages over $10/gallon. The Company’s plan is to set up a nationwide franchising operation to supplement Tritanium’s existing distribution network through Costco among other US major retailers. David Markowski, CFO of EWLL, said “we believe HOCL should be an ideal product as the US emerges from the Covid-19 Pandemic. We believe our relationship with Tritanium should enable us to be a low cost supplier of the “best in class”, environmentally friendly disinfectant. We believe we should be well positioned to benefit from the recently passed Pandemic Relief Bill that allocates substantial monies for domestic PPE producers such as Tritanium. Even as the country unmasks, we continue to believe disinfectant and sanitizer use will continue to surge and expect that AMHP will become a significant factor in the market”.

*According to a Fortune Business Insights Article dated 12/8/20 the market for surface disinfectants will reach $1.5 billion in 2027 from $770 million in 2019. The Company believes increased disinfectant use represents permanent change as the Pandemic lessens. The Company’s access to the lowest cost production of this environmentally friendly product, HOCL, should position AMHP for rapid growth.

Safe Harbor Statement

This news release includes certain information that may constitute forward-looking statements. Forward-looking statements are typically identified by terminology such as “could,” “may,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about eWellness’ beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Although eWellness believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. eWellness cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.

Douglas C. MacLellan
Chairman
eWellness Healthcare Corporation
Email: dmaclellan@phzio.com

FAQ

What is the merger between EWLL and AMHP about?

The merger aims to establish a strong foothold in the hypochlorous acid market, leveraging low-cost production.

How will the merger impact EWLL's stock?

The merger includes a proposed reverse stock split, which could dilute existing shareholder value.

What is hypochlorous acid and why is it significant?

Hypochlorous acid is a natural disinfectant, expected to see market growth as hygiene practices remain emphasized post-pandemic.

What are the financial projections for the hypochlorous acid market?

The market for hypochlorous acid is projected to reach $1.5 billion by 2027.

When is the merger expected to be finalized?

The merger is anticipated to close shortly, pending final due diligence.