MATRIXX INITIATIVES BUYS SWAB MANUFACTURER'S ASSETS

Matrixx Initiatives Inc. Thursday announced the acquisition of substantially all of the assets of Viridian Packaging Solutions LLC, a manufacturer of dry handle swab products.
In addition to patents and other intellectual property, the purchase also includes equipment, machinery and tooling. The purchase price consists of approximately $750,000 in cash payments, $208,000 in forgiveness of prepayments previously made by Matrixx to Viridian, and a contingent payment of up to $200,000 to be paid by Matrixx in two years based on volumes of dry handle swab products produced by the company utilizing the acquired intellectual property.