FOR IMMEDIATE RELEASE — Phoenix, Nov. 14, 2017 (GLOBE NEWSWIRE) -- — BioNovelus (ONOV) has today announced the retention of New York-based Meroe Capital Group Ltd.
In the structure of the deal, BioNovelus will become a client of Meroe Capital’s prestigious “H2O Program II.” the Meroe Capital accelerated business incubator. This setting will provide BioNovelus the required operational and financial initiatives as well as allocations that are custom tailored and necessary to BioNovelus, and such additional resources and talent to further refine, meet and exceed the young company’s current objectives.
The deal, which includes BioNovelus issuing 10 million shares of restricted common stock of ONOV, and (through a Meroe investor) capital to Meroe Group interest that will provide and direct new infrastructure, ancillary firms, and thus, a refined direction to the methodology, technocratic, structural, and strategic direction of BioNovelus for the future.
Mr. Robert Brown, Meroe Capital’s V.P. of Logistics, will direct strategy, logistics coordination, and resources in the repositioning of BioNovelus, its expansion in the capital markets, as well as directing and advising on structural and operational requirements necessary for the company to achieve and exceed its current objectives.
Mr. Jean Ekobo, BioNovelus CEO and founder is pleased with the new relationship. “This is a very natural coming together,” Ekobo said with enthusiasm. “Management believes Meroe’s resources, experience in agri-business and access to capital will provide BioNovelus the reach it requires to effect its objectives quickly. We believe that the “H2O Program II” is right for the Company. We have the same aspirations: a healthier planet and success for our respective companies.”
About BioNovelus:
BioNovelus is a bioscience company that is in development and marketing of environmentally friendly, innovative, cost effective, and at times disruptive technology-based solutions to such exposures as crop protection, food security, and health care industry challenges. BioNovelus is currently in the final processes of bringing its CR-10 Bio fungicide products to market. A tested and proven biodegradable, non-toxic solution(s) that kills bacteria, fungi, and spores rapidly, safely, and effectively. Thus, CR-10 is a new generation of biofungicide with a unique methodology. BioNovelus management is currently testing CR-10 for crop protection before harvest, and a broad range of other ancillary applications and uses as well.
About Meroe Capital Group:
Meroe Capital Group is a world-class Wall Street boutique investment banking and advisory firm specializing in Private Investments, Mergers & Acquisitions, Globalization, Project, and Portfolio Financing Structures custom tailored for optimum growth and maximum value of client interest. Sine 1985, the firm has continued to set the pace in innovation to become a premier global financial services directorship.
“The H2O Program II” is designed to take on the projects or company that wouldn’t otherwise meet with the Meroe Capital minimum client requirements for capitalization. The program provides retention and development of projects and companies that are cutting edge and innovative or will in some way shift the paradigm of their respective industry(ies), thus, developing a long-term client relationship with stable growth and stability as a Meroe client.
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 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 success of H2O Program II has to do with the recent track record of Meroe Capital, the availability of capital for the agribusiness space, the ability to meet the milestones necessary to obtain capital, and the ability to identify and implement a new marketing plan. 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.