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BioNovelus agrees to Co-Directorship and advisory with Meroe Capital Group Ltd.

November 14, 2017 06:00 ET | Source: BioNovelus Inc.

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.”

http://globenewswire.com/news-release/2017/11/14/1185672/0/en/BioNovelus-agrees-to-Co-Directorship-and-advisory-with-Meroe-Capital-Group-Ltd.html