BioNovelus (ONOV) has 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 with the required operational and financial initiatives as well as allocations that are custom tailored and necessary 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, 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.
Robert Brown, Meroe Capital vice president 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.
Jean Ekobo, BioNovelus chief executive officer and founder, is pleased with the new relationship, saying, “This is a very natural coming together. Management believes Meroe’s resources, experience in agribusiness 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.”
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. The tested and proven biodegradable, nontoxic solution 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.
Meroe Capital Group is a world-class Wall Street boutique investment banking and advisory firm specializing in private investments, mergers and acquisitions, globalization, project and portfolio financing structures custom tailored for optimum growth and maximum value of client interest. Since 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 companies that wouldn’t otherwise meet Meroe Capital's 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.