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UV Flu Technologies Signs LOI to Acquire Manufacturer of Industrial Grade Air Purification Systems

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The agreement includes a patented, trademarked product line, with dozens of national distributors and representatives, an extensive customer list, inventory, and all associated manufacturing equipment. The company's sales include an installed base of several thousand units in over 1000 unique facilities nationwide.

The transaction will use commercially reasonable efforts to execute a definitive merger agreement by mid-November and the Definitive Agreement shall contain customary representation and warranties, covenants and indemnification provisions. By mutual agreement, the name of the selling company will be withheld until the close of the transaction.

"This is an excellent and timely acquisition for UV Flu," said Jack Lennon, President of UV Flu Technologies. "The company we are acquiring makes some of the finest, hi-end, air purification equipment available anywhere. Their highest volume product is patented, trade-marked, and is based on HEPA equipment which also combines UV germicidal technology designed to capture 99.97% of the particulates passing through the system. It complements and extends our existing technology and capabilities by dramatically increasing filtration protection throughout much larger spaces, particularly in areas where smoke and dust play a major role. Construction sites, casinos, smoking lounges and restaurants are significant users of the product line, including over 400 hospitals that rely on its particulate trapping abilities to clean the air of harmful pathogens. This high grade HEPA based technology is best suited to industrial/commercial environments which incorporate designated maintenance schedules and generally includes service contracts as opposed to residential or small commercial settings, where stand-alone HEPA users may neglect to change the filters in a timely manner thereby compromising the effectiveness of their systems."

"The acquisition will be operated as a subsidiary of UV Flu Technologies, and will provide a US manufacturing base to aid in the pursuit of government and DoD contract opportunities. We hope this added market segment will also lead to additional jobs and overall growth for the Company," said Mr. Lennon. "The enhanced product line will make us increasingly attractive to large US distributors, and increase our visibility within the hospital, hotel and casino marketplace. Upon the close of the transaction we will immediately introduce our distributors to the entire product line, both domestically, as well as internationally. We believe the synergies will be extraordinary and hope to dramatically increase our revenue estimates for 2011 as a result. Once our residential model is introduced to the lineup in 2011 we are highly optimistic for significant traction across the entire segment. We are excited by the prospects and look forward to offering a full line of products that really work; all with verified and laboratory proven test data for every application."