Health-care stocks are entering their salad days, with much attention being focused on issues both great and small.
On U.S. markets, with indexes fluttering, health-care nosed up 0.2% in New York Wednesday afternoon. Nothing north of the border fell within this space’s criterion.
West Palm Beach, Florida-based Ethema Health Corporation (OTC: GRST) has signed an LOI to purchase a majority interest in neighboring firm Biohazard Health Services LLC, an environmental services company providing disinfecting, testing and training services to companies and institutions to provide their employees and customers with safe work and meeting spaces.
The Vendor operates under its brand name Covid Clear and offers its customers a unique product through airborne delivery on a constant basis to keep spaces continuously disinfected. Covid Clear has a number of companies and institutions who have purchased services locally in Florida.
The LOI contemplates the purchase of the majority interest (51%) for $5,000,000.00 in a series of three tranches. The funds are to be retained by Covid Clear for working capital purposes. The first tranche buys 25% of Covid Clear for a payment of $250,000.00. The second and third tranches are dependent on Covid Clear reaching certain sales revenue thresholds.
GRST thundered ahead 52.6% Wednesday to $0.0029 on volume of 346 million shares.
