(TheNewswire)
Thrive Focus: Ourpriority is Global BioDefense before the next Pandemic
Spokane, WA – TheNewswire - February 27, 2023 – China New EnergyGroup Co (“CNER”) (O TC :CNER) announcedterms on a planned acquisition of a dynamic emerging biosafetycompany, Thrive Testing and BioSafety Inc. (“THRV”), a privatecompany with select game changer proprietary biodefense solutions.Thrive has enabling technology for the delivery of BioSafety as aservice to Points of Entry (Airports, Sporting Events, Schools,Business), concerns in the forefront of government, media and businessfocus points.
The acquisition will take the form of a reverse merger whereby THRVwill become part of CNER but the management and control of CNER willbe THRV based. An exchange of shares shall apply among other terms andcondition including due diligence.
THRV may become a wholly owned subsidiary of CNER. THRV currentmanagement may become the new management of CNER inclusive ofoperating and asset rich THRV.
Subject to closing, current CNER management and directors will resignappointing and the THRV team will as new directors and officers andthus THRV management will assume the management of CNER. Through thisproposed transaction CNER will focus on the BioSensor and MedicalDevices sector supporting decentralized laboratory testing for Virusesand Bacteria on surfaces, in air, in water and in humans/animals
The terms are non-binding and final terms, conditions, and closing aresubject to a definitive agreement, and such definitive agreement isanticipated with closing to follow, all within March 2023.
About China New Energy GroupCo.
China New Energy Group Co. (“CNER”) is a company seeking toacquire an operating company in the technology marketplace enhancingshareholder value to be created through innovation and new businessmodels. The focus is on Web3.0 technology defined as ArtificialIntelligence, Big Data, Decentralization and Block Chain focused inMedTech, Fintech or AdTech.
About Thrive Testing and BioSafetyInc.
Thrive Testing and BioSafety Inc. (“THRV”), works with leadingresearch and development companies around the world to licenseenabling technology for the delivery of BioSafety as a Service toPoints of Entry (Airports, Sporting Events, Schools, Business) and todevelop a concierge service whereby testing can be ordered andperformed on demand at your doorstep. Testing of Bacteria andViruses on surfaces, in water, in air and in humans in a decentralizedbasis will speed up the detection capability with the goal to createan early warning system before a pandemic breaks out. THRV’s goalis to build a global pandemic early warning system before the nextpandemic happens. THRV core strategy is acquire enabling technologycompanies and integrate all the technology under one roof, oneplatform to provide seamless execution on a global scale.
Important Notice RegardingForward-Looking Statements
This press release contains statements that constitute“forward-looking statements” within the meaning of Section 27A ofthe Securities Act of 1933, as amended (the “Securities Act”), andSection 21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). All statements, other than statements of presentor historical fact included in this press release, regarding thecompany’s future financial performance, as well as the company’sstrategy, future operations, revenue guidance, projected costs,prospects, plans and objectives of management are forward-lookingstatements. When used in this press release, the words “could,”“should,” “will,” “may,” “believe,” “anticipate,”“intend,” “estimate,” “expect,” “project,” thenegative of such terms and other similar expressions are intended toidentify forward-looking statements, although not all forward-lookingstatements contain such identifying words. These forward-lookingstatements are based on management’s current expectations andassumptions about future events and are based on currently availableinformation as to the outcome and timing of future events. Except asotherwise required by applicable law, Lottery.com disclaims any dutyto update any forward-looking statements, all of which are expresslyqualified by the statements in this section, to reflect events orcircumstances after the date of this press release.
China New Energy Group Co Contact:
Gary Bartholomew
Chairman and CEO
gary@galtcap.com
Copyright (c) 2023 TheNewswire - All rights reserved.