Worldwide Specialty Chemicals, Inc. acquired Lux Amber, Corp. in a reverse merger transaction.
April 01, 2020
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Worldwide Specialty Chemicals, Inc. entered into an agreement to acquire Lux Amber, Corp. (OTCPK:LXAM) in a reverse merger transaction on March 23, 2020. Pursuant to the agreement, Lux Amber will acquire 28.053167 million shares of Worldwide Specialty Chemicals, for an equivalent number of fully paid and non-assessable shares in the surviving entity. Post completion, Lux Amber will be the surviving entity. The surviving entity is expected to trade as Worldwide Specialty Chemicals Inc.
The transaction closing is subjected to board approvals and shareholders approvals of both Lux Amber and Worldwide Specialty Chemicals. The transaction was approved by the stockholders of Lux Amber and Worldwide Specialty Chemicals. Roger A. Crabb of Scheef & Stone, LLP acted as the legal advisor to Worldwide Specialty Chemicals, Inc. in the transaction.
Worldwide Specialty Chemicals, Inc. completed the acquisition of Lux Amber, Corp. (OTCPK:LXAM) in a reverse merger transaction on March 26, 2020.
Lux Amber, Corp. is an international specialty chemical company. The Company develops and produces a range of edge chemical products and markets to governments, businesses and consumers. The Companyâs products are used in a diverse array of applications. The Companyâs Asphalt Release Agents (ARA) works on SMAs polymer, and popcorn asphalts. It also sells truck bed application spray systems and trailer mounted application systems. Asphalt Release Agents are available in 5-gallon pails, 55-gallon drums, 275-gallon totes and bulk delivery. Its all-natural, biodegradable cleaning solutions remove tar, grease, asphalt and sticky substances from many surfaces. DS-16 is a drum and slat treatment solution that was specifically developed to extend the lifetime of slats and the mean time between maintenance (MTBM). It makes various strippable coatings in its DeconGel product line that remove heavy metals, meth lab contaminants, mercury, asbestos, chemicals, radioactive isotopes and others.
LUX AMBER, CORP. 