Zircon Corporation has entered into a merger agreement with Harmony Energy Technologies Corp. The combined company will do business under the name Zircon and will be centred on leveraging Zircon's sensor-based, ASIC processor technology and patent portfolio, to accelerate growth by expanding its electronic hand-tool product line, entering new markets globally and launching a data, IP and technology licensing business.
Harmony is a U.S. Securities and Exchange Commission (SEC) reporting company. Zircon expects its merger with Harmony will allow it to accelerate the process of accessing the U.S. capital markets as a publicly traded company.
With a 46-year history, Zircon is centred on building on its leadership in designing and developing innovative hand tools and maintaining a dominant market share. The Company's multi-faceted strategy spans new product development, entry into adjacent markets, global expansion and data, IP and technology licensing. Leveraging its technology and manufacturing resources, Zircon believes it is well-positioned to capitalise on the growing need for advanced construction tools across multiple industries.
"Backed by our talented team, proprietary technology and state-of-the-art manufacturing facilities, we believe we have ample opportunity to expand our business and deliver profitable growth," commented John Stauss, Chief Executive Officer of Zircon. "Through this merger and a subsequent public listing, we strengthen our ability to execute on our growth plan and move forward with new technological solutions to a wider range of global markets."