TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE ‒ Rhino Novi Inc. (OTC Markets: RNOV) announces that it has entered into a binding agreement for the purchase of Biolife Sciences Corp. a Canadian company (“BioLife”).
Biolife develops, licenses, and distributes antibacterial products and non-contact human temperature screening technology. Products include disinfecting wipes, UV sterilization technology, electrostatic disinfection services, anti-microbial textiles, and touchless vending/marketplaces.
BioLife offers a variety of health products, PPE, and natural remedies for the consumer market.
The agreement calls for the issuance of 35,751,380 RNOV shares to BioLife’s current shareholders, the cancelation of 25,000,000 shares held by current RNOV shareholders, and transactional expenses for up to $50,000 CDN, in exchange for 100% of the shares of BioLife, which will become a wholly-owned subsidiary of Rhino Novi Inc. Upon completion of the agreement, all current officers and directors of BioLife will be appointed to the board of RNOV.
RNOV has filed a corporate action with FINRA to change its name to BioLife Sciences Corp. and has filed articles of amendment with the Nevada State. The corporate action is currently pending with FINRA.
About Rhino Novi Inc.
Rhino Novi Inc. (OTC Markets: RNOV) operates through its wholly owned subsidiary, BioLife Sciences Corp., located in Ontario, Canada. The company specializes in moving innovative products from the lab or small scale production into wider market adoption. Its core business develops, licenses and distributes antibacterial products, non-contact human temperature screening technology, and touchless vending/marketplaces.