AnPath Group Completes Merger With Q2Power; Secures Additional $500,000 in Capital for New Product Launch
LANCASTER, OH--(Marketwired - Nov 19, 2015) - AnPath Group Inc. (OTC PINK: APGR) (the "Company") has completed its merger with Q2Power Corp. ("Q2Power"), a renewable power company based in Lancaster, Ohio. In connection with the merger, the Company also completed the sale of $500,000 of its Series A 6% Convertible Preferred Stock, to support Q2Power's launch of its proprietary waste-to-power system.
Q2Power's technology provides a new, cost-effective solution to dispose of waste by converting it to electricity and useful heat. Because of its containerized, modular design, the system can be deployed with minimal time and expense at thousands of small-scale facilities that must dispose of waste-derived biogas and used fuels at increasingly greater costs. Q2Power installed its first system this summer at an Ohio wastewater treatment plant, and is on track to deploy commercial units early in 2016 to meet customer demand.
"We have a tremendous business opportunity as we launch our new product, supported by strong regulatory and market forces compelling fundamental changes in the way we manage waste in this country," stated Christopher Nelson, the Company's new CEO. "We see a multi-billion dollar industry being created right now at the crossroads of distributed renewable power generation and on-site waste management."
"We believe our proprietary technology-based solution will provide a preferential choice for thousands of biogas and waste producing sites in the U.S. that are too small for traditional power or fuel conversion systems. Our strengths are simplicity, price and scalability -- critical factors in this newly emerging and quickly growing industry," Mr. Nelson continued.
Across the United States, businesses and municipal facilities face a rapidly changing regulatory landscape to utilize waste resources more effectively. These forces are creating urgency for customers to seek solutions from companies like Q2Power.
- In August 2015, the U.S. EPA proposed national standards that will directly regulate methane emissions from the oil and gas industry, as well as force many smaller and older landfills to capture and control their methane for the first time.
- California recently enacted legislation to require businesses to divert organic waste from landfills starting in April 2016; and is requiring municipalities to develop implementation plans for technologies like biogas-producing anaerobic digesters. Other states are following this lead.
- The Department of Energy has identified over 20,000 sites throughout the U.S. that could develop anaerobic digesters for renewable power projects, many of which are projected to be smaller-scale facilities.
- 37 states have now included methane, landfill gas and biogas in their Renewable Portfolio Standards as energy sources qualifying for valuable renewable energy credits.
Pursuant to the merger, Q2Power's shareholders received 24 million shares of the Company's common stock, and its officers and directors have assumed management control. The Company also closed $500,000 of its Series A 6% Convertible Preferred Stock offering with one accredited investor. The details of the merger, Series A funding and information about Q2Power, including Risk Factors and combined pro-forma financial statements, have been filed in the Company's Current Report on Form 8-K filed with the Securities Exchange Commission on November 18, 2015.
None of the securities offered in these transactions have been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of the securities in any jurisdiction in which such offer solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
For more information about Q2Power, please visit: www.q2p.com
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to integrate and manage the business of Q2Power, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, our ability to raise funding on acceptable terms, and changes in our business strategies.
(November 19, 2015 - 10:09 AM EST)
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