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Universal Proptech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) ("UPI" or the "Company") is pleased to announce that the company is expanding the distribution of Air Sniper products across Canada and exploring sales into the United States. The company and Air Alpine Innovation Research Inc. ("Air Sniper") have agreed under a revised distribution agreement ("Agreement") to expand the Company's geographic reach, which now includes all of Canada and the United States. This revised distribution agreement comes as an update to its original agreement previously announced on February 1, 2021. The Company has agreed to convert its status as an exclusive Master Distributor for eastern Canada to a non-exclusive one covering both Canada and United States.
This amended Agreement will serve to both expand international markets for indoor air quality ("IAQ") products and enable the Company to have additional options in IAQ equipment, one that enables the Company to sustain its trusted advisor status with customers.
The company is currently in the process of speaking with various interested entities for the sale and distribution of Air Sniper products, and the company expects to update stakeholders in the coming days.
The President and CEO of Universal Proptech Inc., Mr. Chris Hazelton, stated, "We are excited to begin the process of increasing our geographic footprint with Air Sniper and provide potential customers across Canada and the United States with indoor air quality solutions they can trust." Mr. Hazelton further commented, "We have begun conversations with distribution and dealer partners seeking to provide customers with state-of-the-art MADE-IN-CANADA indoor air quality solutions."
Market Size
According to Grande View Research - "The global air purifier market size was valued at USD 10.67 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2021 to 2028. The market is expected to be driven by rising airborne diseases and increasing pollution levels in urban areas. Moreover, growing health consciousness, improving standards of living, and rising disposable income are expected to fuel the market growth. The rising adoption of air pollution control equipment, especially in developing regions across the globe, is anticipated to drive the market over the forecast period. The rising awareness regarding a healthy lifestyle, especially among the urban youth, is expected to significantly contribute to the market growth."
About Air Sniper
Since 2015, Air Sniper has provided a complete air purification solution for businesses across Canada, and continues to develop new flexible options that fulfill industrial-scale needs. Keeping businesses productive means protecting the health and safety of workers and visitors, and the Air Sniper is one of the best tools on the market to do so. While other traditional air purification methods only trap harmful contaminants at best, the Air Sniper is created to destroy those pathogens. Designed and manufactured in Canada, the Air Sniper is constructed to meet scientific specifications for UVC sanitization and is third-party tested against airborne pathogens in industrial capacities. It gives us great pleasure to know that we can have a positive impact in the day-to-day livelihood of businesses.
About Universal Proptech Inc.
Universal Proptech Inc. (TSXV: UPI) (OTCQB: UPIPF) (FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. ("VCI"), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal Proptech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Contact Information
Universal Proptech Inc.
Chris Hazelton
President and Chief Executive Officer
chazelton@universalproptech.com
(647) 300-2957
Forward-Looking Statements
Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "anticipate", "believe", "forecast", expect", "plan", "intend", "estimate", "propose", "project", or similar words suggesting future outcomes. The Company cautions readers and prospective investors in the Company's securities not to place undue reliance on forward-looking information as, by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by the Company.
The forward-looking information included herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date hereof and the Company assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange ("Exchange"), nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86559
