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China New Energy Group Co Announces Acquisition Terms Reached on Thrive Testing and BioSafety Inc.

Thrive Precision Health, Inc.

Thrive Focus: Our priority is Global BioDefense before the next Pandemic


Spokane, WA – TheNewswire - February 27, 2023 – China New Energy Group Co (“CNER”) (OTC:CNER) announced terms on a planned acquisition of a dynamic emerging biosafety company, Thrive Testing and BioSafety Inc. (“THRV”), a private company with select game changer proprietary biodefense solutions. Thrive has enabling technology for the delivery of BioSafety as a service to Points of Entry (Airports, Sporting Events, Schools, Business), concerns in the forefront of government, media and business focus points.  


The acquisition will take the form of a reverse merger whereby THRV will become part of CNER but the management and control of CNER will be THRV based. An exchange of shares shall apply among other terms and condition including due diligence.


THRV may become a wholly owned subsidiary of CNER. THRV current management may become the new management of CNER inclusive of operating and asset rich THRV.  


Subject to closing, current CNER management and directors will resign appointing and the THRV team will as  new directors and officers and thus THRV management will assume the management of CNER. Through this proposed transaction CNER will focus on the BioSensor and Medical Devices sector supporting decentralized laboratory testing for Viruses and Bacteria on surfaces, in air, in water and in humans/animals


The terms are non-binding and final terms, conditions, and closing are subject to a definitive agreement, and such definitive agreement is anticipated with closing to follow, all within March 2023.


About China New Energy Group Co.

China New Energy Group Co. (“CNER”) is a company seeking to acquire an operating company in the technology marketplace enhancing shareholder value to be created through innovation and new business models.  The focus is on Web3.0 technology defined as Artificial Intelligence, Big Data, Decentralization and Block Chain focused in MedTech, Fintech or AdTech.  


About Thrive Testing and BioSafety Inc.

Thrive Testing and BioSafety Inc. (“THRV”), works with leading research and development companies around the world to license enabling technology for the delivery of BioSafety as a Service to Points of Entry (Airports, Sporting Events, Schools, Business) and to develop a concierge service whereby testing can be ordered and performed on demand at your doorstep.  Testing of Bacteria and Viruses on surfaces, in water, in air and in humans in a decentralized basis will speed up the detection capability with the goal to create an early warning system before a pandemic breaks out.  THRV’s goal is to build a global pandemic early warning system before the next pandemic happens.  THRV core strategy is acquire enabling technology companies and integrate all the technology under one roof, one platform to provide seamless execution on a global scale.


Important Notice Regarding Forward-Looking Statements


This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included in this press release, regarding the company’s future financial performance, as well as the company’s strategy, future operations, revenue guidance, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.


China New Energy Group Co Contact:


Gary Bartholomew

Chairman and CEO