Collection Sites Launches Operating Partnership To Extend COVID-19 Testing With Besser Brands; Medivolve Closes Noble Bioscience Transaction
TORONTO, March 02, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve” or the “Company”) (NEO:MEDV; OTC:COPRF; FRA:4NC) announces the launch of an operating model with Besser
Brands in the state of Florida. Under this framework Besser Brands is initially operating 9 Collection Sites locations under the Collection Sites branding, where they are responsible for all
related operating costs and systems management. In return for using the Collection Sites name, Besser Brands will pay a royalty on all tests sold. Further, Medivolve has entered into a definitive
agreement and subsequently closed the transaction to acquire 100% of Noble Bioscience Corp.
“We are excited by the opportunity to expand the Collection Sites network through an experienced and professional operating partner like Besser Brands,” says Doug Sommerville, CEO of Medivolve. “While we continue to operate our own network, implementing a franchise-type model will allow Collection Sites to more rapidly expand its network and leverage its infrastructure and branding to generate additional revenues for the company.”
About Noble Bioscience Corp. Agreement
Medivolve announced today that it has entered into a definitive agreement and subsequently closed the transaction to acquire 100% of Noble Bioscience Corp. (“Noble Bioscience”), first announced on February 2, 2021. Medivolve issued a total of 12.5 million Medivolve common shares to the shareholders of Noble Bioscience, in exchange for a 100% interest in Noble Bioscience. No finder fees were paid connection with, and no change of control of Medivolve resulted from, the transaction.
Noble Bioscience holds the agency rights to Nuturell’s Surface Shield technology in the United States, Canada and Caribbean countries. Nuturell’s non-toxic silver surface shield technology is a COVID-19 disinfectant that converts into a protective shield when air dry, killing the coronavirus among other pathogens for up to 90 days after only ~30 seconds of contact. Nuturell’s Surface Shield technology was created to overcome the limitations of standard harsh chemical disinfectants and cleaning agents that suffer from various constraints such as their harmfulness, corrosive nature and bacterial resistance.