7/14/2008 9:00:20 AM
CARLSBAD, CA and LAS VEGAS, NV--(Marketwire - July 14, 2008) - Applied Nanoscience, Inc. (ANI) (PINKSHEETS: APNN), a nanotechnology-based filtration development company, and Emergency Filtration Products, Inc. (EFP) (PINKSHEETS: EMFP), the developer of the NanoMask™, today announced that they have entered into a definitive merger agreement under which ANI has agreed to acquire EFP by issuing approximately 36,586,287 shares of its common stock and 18,293,143 warrants for the purchase of additional shares of ANI in exchange for the approximately 47,514,658 shares of EFP that are currently outstanding. ANI currently has approximately 24,315,569 common shares outstanding. The merger agreement requires the approval of the shareholders of both ANI and EFP.
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