By: Matt Rego
BioNovelus Inc. (OTC Pink: ONOV) is a biotechnology company that focuses on creating cost-effective treatments, disruptive technologies and other biomedical support to the agricultural industry and environment. Shares of the biomedical company are seen rallying near 30% on Monday, July 25, 2016 with higher than usual volume. Over the past three months, BioNovelus Inc. (OTC Pink: ONOV) has seen average daily volume of around 536,749 shares. However, nearly 592,200 shares or dollar volume of around $408,618 has already exchanged hands early on in the trading session Monday.
The big news out of BioNovelus Inc. (OTC Pink: ONOV) today states that the company will be deploying its biodegradable fungicide, CR-10, to 20,000 coffee growers across Guatemala. The new fungicide is designed to help coffee planters and harvesters that are battling a devastating disease called coffee rust. The disease to the coffee crop has cost Guatemala over $1 billion in losses since 2012 and it is estimated that around 70-80% of the country’s coffee crop is infected with the disease. Here is press release detailing of the fungicide agreement:
Phoenix, July 25, 2016 (GLOBE NEWSWIRE) — BioNovelus, Inc. (ONOV) is proud to announce that its biodegradable fungicide, CR-10, will be tested by major coffee growers in Guatemala, starting this week.
Fedecocagua, one of the largest cooperative of Guatemala with 20,000 coffee growers has agreed to test CR-10 at several of its plantations. Additionally, tests will be launched with Finca Medina, in Antigua, a renowned region for specialty Arabica coffee.
“The coffee rust fungus (or “roya” in Spanish) is estimated to have caused over $1 billion in damages in Guatemala alone, since 2012. It is now estimated that 70-80% of its coffee crops are affected by the disease. This is among the highest rates throughout Central America. The government of Guatemala declared a state of emergency in 2013.
“Roya” is affecting everyone involved in the coffee distribution chain — from the farmers working in the fields, to the rich coffee finca owners. Even Starbucks is not immune from this growing menace. Coffee harvests of Guatemalan plantations have dropped to 1/20th of what they used to be in recent years.
The Guatemalan coffee industry ranks #10 in the world producing 3,400,000 – 60 kilos bags from 276,500 hectares of valuable and irreplaceable farmland.
Mr. Jean Ekobo, President/CEO of BioNovelus, Inc. is traveling to Guatemala to personally oversee the launch of several CR-10 tests. While there, he will also meet with executives of the World Coffee Research Institute in Guatemala City, and with the owner of Soluagro, a Central America leader in the coffee and food packaging.
BioNovelus-Costa Rica, a subsidiary of BioNovelus, Inc., is fully registered before the Costa Rican Public Registry. BioNovelus-C.R., is the new regional headquarters for BioNovelus, Inc.’s growing operation in Central America.
BioNovelus-C.R. has retained Mr. Enrique Calderon as a regional manager. Mr. Calderon has assumed various positions in the coffee industry. He is an expert in coffee production and trade, and is well-known in the industry. Mr. Calderon will be responsible for obtaining the registrations of CR-10 in all Central American countries, and in Mexico and Colombia. He will be instrumental in the commercialization of CR-10 in Central America, Mexico and Colombia. Also, he will oversee pilot testing and represent BioNovelus in conversations and certain negotiations with potential distributors in the region.
About BioNovelus Inc.
BioNovelus, Inc. (ONOV) is a biotech company that honors the environment with an innovative, cost effective and disruptive technology-based solution to the problems of safety and cleanliness regarding food production and water supply.
BioNovelus’ primary target market is the $100 Billion, annually, worldwide, coffee industry. Coffee Rust or “Roya” (Hemileia vastatrix), is a devastating fungus attacking the Arabica plant, currently, the coffee industry’s greatest threat. So far, $2.5 billion dollars and 500,000 jobs have been lost throughout Central America since 2012.
This news release includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2015 and beyond could differ materially from the Company’s current expectations. Forward-looking statements are identified by words such as “anticipates,” “projects,” “expects,” “plans,” “intends,” “believes,” “estimates,” “targets,” and other similar expressions that indicate trends and future events.
Factors that could cause the Company’s results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company’s products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company’s control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace including the ability to attract and retain customers, results of continuous improvement and other cost-containment strategies, and the Company’s success in attracting and retaining key personnel. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.