(TheNewswire)
Thrive Focus:Biodefense solutions to keep people and places safe.
Spokane, WA – TheNewswire - March 30, 2023 – China New Energy GroupCompany (with subsidiary Thrive Testing and Biosafety Inc., “CNER”or "Company") (OTC:CNER) announced the closing of a private financing of theCompany of USD$193,800.00.
The financing, in summary, took the form of a privatetransaction whereby the Company issued restricted common stock and apromissory note for total proceeds of $193,800 dollars. The noteincluded interest based on a 6% coupon accruing to maturity in 12months, certain conversion rights, and other terms, includingcustomary promissory note provisions. The Company anticipates usingthe proceeds for operations, general working capital, marketing andpublic company regulatory compliance services and expenses.
About Thrive Testing and BioSafetyInc.
Thrive Testing and Biosafety Inc. works with leadingresearch and development companies around the world to licenseenabling technology for the delivery of Biosafety as a Service(“BaaS”) to Points of Entry (Airports, Sporting Events, Schools,Businesses) and to develop a concierge service whereby testing can beordered and performed on demand at the doorstep of your home orbusiness. Testing of bacteria and viruses on surfaces, in water, inair, and in humans on a decentralized basis will speed up detectioncapabilities with the goal to create a real-time global early warningsystem. Thrive's goal is to use this system to identify bacterial orvirus breakouts before the next pandemic happens, protecting peopleand places. Thrive’s core strategy is to acquire enablingtechnology companies and integrate all the technology under one roofand one platform to provide seamless execution on a globalscale.
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, the Company 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. Nothing in thisrelease is intended to be an offer of sale or purchase of anysecurities nor a solicitation of any offer for the sale or purchase ofany securities.
China New Energy Group Company Contact:
Guy Zajonc
CEO
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