Athens, Texas, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Reliable One Resources, Inc., which specializes in advanced air and water filtration solutions, today announced that the company has entered into discussions with one of the largest Wall Street investment banks to secure a multi-million investment agreement. The investment structure will be an APO (Alternative Public Offering), which is similar in many respects to a PIPE financing. The investment will be in lump sum and is designed to provide funding for expansion of its superior nano-fiber membrane filters that have applications in multiple industries and market sectors including personal protective equipment, air filtration, and water treatment.
Reliable One’s wholly owned Quantum Filtration subsidiary (www.quantumfiltration.com) has developed the world’s first “block and kill" smart face mask, which helps protect the wearer from coronavirus/COVID-19 and other infectious agents while maintaining superior breathability. The mask is ideal for healthcare professionals and other first responders who come in direct contact with COVID-19 every day as well as for the general public, since global demand for effective face masks is expected to continue long after the current surges in COVID cases have abated and vaccines are widely available. In addition, Reliable One sells highly-effective, alcohol-free hand sanitizer and surface disinfectant products through its Re:Earth Products subsidiary.
The Company also released an update on the electro-spinning machines that are used to help create the filter membrane material, which is electro-statically adhered to a fiber-spun substrate. Kenneth Wiedrich, President of Reliable One Resources, announced that the first machines have been shipped, and the Company expects to shortly place an additional order for another nine machines with a long-term goal of 81 machines.
“These are exciting times for the Company, and I would like to personally thank all our employees, scientists, and investors for their dedication while research and development was completed,” said Mr. Wiedrich. “This funding agreement is expected to ensure that Reliable One has the capital needed to fulfill all its standing orders and production plans. Management has moved forward with this agreement in order to take Reliable One and Quantum Filtration to the next level and take the Company public, perhaps as early as the first or second quarter of 2022.”
Mr. Wiedrich further announced that, in light of these developments, the Company will be required to increase the private offering stock price to $3.00 per share. However, the Company will honor sales agreements to existing shareholders at the lower $1.50 share price for a period of forty-five days.
About Reliable One Resources, Inc.
Headquartered in Athens, Texas, Reliable One Resources, Inc. is a privately held South Dakota company specializing in advanced air and water filtration solutions for a variety of industries and market sectors. Through its various subsidiaries, the Company also owns saltwater injection wells in Ohio and Texas, a controlling interest in an oil lease and additional assets. For more information, please visit www.reliableoneresources.com and http://www.quantumfiltration.com.