Aphex BioCleanse Systems, Inc. entered into a non-binding letter of intent to acquire Sunset Capital Assets, Inc. (OTCPK:SNST) in a reverse merger transaction for approximately $390 million on June 12, 2020. Under the terms, all of the issued and outstanding stock, in all classes of Aphex BioCleanse Systems are anticipated to be exchanged for common shares of Sunset. On August 3, 2020, a definitive agreement has been signed. Effective at the closing of the transaction, the current members of the board of directors of Aphex BioCleanse Systems will join the board of directors of Sunset and the Sunset Directors will resign. The existing management team of Aphex BioCleanse Systems will replace the current management of Sunset who will also resign. The final elements of the transaction will be determined by the parties following the completion of final due diligence and expected to have final closing by the end of July 2020. As on August 3, 2020, pursuant to the agreement, Sunset has issued 217.3 million shares to Aphex. Commensurate with the closing of the transaction, Sunset intends to revise its capital structure and management, change its name to Aphex BioCleanse Systems Inc., and apply for a change in trading symbol. Sunset Executives and Board of Director members, John Watson, Sr., John Watson, Jr., Alan Speck and Anthony Betros have resigned as officers and directors of Sunset. David Weaver has been appointed as Chief Executive Officer and Director. Scott Buckley has been appointed to an officer position. David Olund has been appointed to Senior Vice President for Finance and Business Development and a Director. Anthony Fedor was appointed as a Director.

Aphex BioCleanse Systems, Inc. completed the acquisition of Sunset Capital Assets, Inc. (OTCPK:SNST) in a reverse merger transaction on July 31, 2020.