Phoenix, Oct. 04, 2017 (GLOBE NEWSWIRE) -- / FOR IMMEDIATE RELEASE — After months of trials conducted in partnership with several companies in the crop protection, post-harvest, and food security spaces, BioNovelus (ONOV) is delighted to announce the beginning of the commercialization of its eco-friendly, Biofungicide CR-10.
Quantities of CR-10 have been sold to Agrinco for distribution in Guatemala. “This is a huge step for BioNovelus,” says Jean Ekobo, President and CEO of BioNovelus, Inc. “Just a few months ago we were still working on finding corporations forward-thinking enough to test this innovative product in their fields as well as processing and packing centers. We have come a long way from being a bold and inspiring new innovation straight out of the lab to now launching this product into the market.”
Not only that, but we received good feedback from end-users. Says Ekobo, “Our testing partners have let us know that some samples of fruits and vegetables treated with CR-10 have already been shipped, delivered, and sold in the US, and that the American food markets and grocery stores were very satisfied with the upgrade in quality of these fruits and vegetables. We know that if the customers of our customers are happy, we have a winner!”
About BioNovelus
BioNovelus is a bioscience company that honors the environment with innovative, cost-effective, and disruptive technology-based solutions to crop protection, food security, and health challenges.
About CR-10 Biofungicide
CR-10 Biofungicide is a proven, biodegradable, non-toxic solution that kills bacteria, fungi, and spores rapidly, safely and effectively. It is a new generation of biofungicide with a unique mode of action. BioNovelus management believes that CR-10 has a broad range of uses in crop protection before harvest, as well as in post-harvest protection, and food security.
Forward-Looking Statements
This news release includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the fiscal year 2017 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events.
Factors that could cause the Company’s results to differ materially from forward looking statements regarding the efficacy of the crop restoration and results of CR-10 and registration approval include the lack of capital needed to complete testing, the lack of experience with pursuing approval of this product and modifications and receipt of information that may be demanded by the registration of the CR-10 formula and the delays in the various government approval processes unrelated to the product itself. Factors that could cause lower rates of success in CR-10 eradication of fungi include the method and timing of applications of CR-10, the impact of heavy rainfall, the strength of fungi contamination, and other environmental conditions resulting in re-infection. Factors that may impact transactions with Mexican and Central American distributors include the alternatives of genetically modified crops, products of competitors, government approvals, and pricing.
There is no assurance of when registrations will be obtained for CR-10 and various applications. There is no assurance that the coffee rust application will prove commercially viable. There is no assurance that any transaction will be done with Mexican and Central American distributors.
Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, general business and economic conditions beyond the Company's control the consequences of competitive factors in the marketplace including the ability to attract and retain customers, results of continuous improvement and other cost-containment strategies, compatibility with other chemical products, the application of the products, and the Company's success in attracting and retaining key personnel. The Company undertakes no obligation to revise or update forward-looking statements because of new information, since these statements may no longer be accurate or timely.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
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