The Renewable Corporation (RNWB) Sells Certain Assets and License Agreement
LAKE PARK, Florida ? June 27, 2013 ? On June 27, 2013, The Renewable Corporation through its wholly owned subsidiary Renewable Bioscience Technologies, Inc., (the Company) entered into an Asset Purchase Agreement with Nova Mining Corporation, (NVMN) a Nevada corporation to sell the Company?s license agreement with Dr. Yin-Xiong Li MD, Ph.D., including certain assets and processes to innovative technologies in skin protection from the sun, industrial UV sources and reducing collateral damage from medical radiation treatment which consists of various patented skin products. The Company received 7,545,788 shares of common stock of Nova Mining Corporation. In addition the Company reduced its debt liabilities by $470,000 which was transferred to Nova Mining Corporation as part of the transaction. The license agreement with Dr. Li was in danger of being in default on September 23, 2013 if the Company did not produce one million dollars $1,000,000 in revenue through the sale of products covered under the license agreement. As of the date of the transaction the Company had sold zero dollars ($0.00) in revenue through the license agreement. On July 12, 2013, Nova Mining Corporation filed a Current Report on Form 8-K/A with the Securities and Exchange Commission and directs interested parties to such filing. For further information, the documents and related exhibits regarding the transaction can be viewed at:
http://www.sec.gov/Archives/edgar/data/137218...m-nvmn.htm
The license sold is with Dr. Yin-Xiong Li, MD, Ph.D. to his patent in Enhanced Broad-Spectrum UV Radiation Filters and Methods as disclosed and claimed in U.S. Patent No. US Patent # 6,117,846 - Nucleic acid filters and US Patent Application # 20080233626 - Enhanced broad-spectrum UV radiation filters and methods, and the following international filings European Application # 07811023.6, and Australian Application # 2007281485 and as trade secrets associate with the above listed intellectual property and trade secrets and potential patent applications for an anti-aging skin rejuvenation cream, an acne OTC treatment, a wrinkle reduction cream and BioSalt redistribution technology using supplements
About The Renewable Corporation
The Renewable Corporation was established in 2004, adopted its present name in 2008, and is based in
The Renewable Corporation and its affiliates integrate sustainable manufacturing and distribution with cutting edge research and proprietary technology to provide the most advanced line of products and services available. RNWB actively seeks out partner companies and individuals that are engaged in similar, forward leaning efforts. The company encourages creative synthesis and the inspired application of ideas in unexpected places. Discovering new solutions to existing and anticipated problems is the corporation?s primary goal. The Renewable Corporation portfolio already contains multiple patents and patented products. Continued support for national manufacturing and small business is also at the heart of The Renewable Corporation charter. RNWB believes that innovative individuals and businesses will invigorate our economy and drive sustained growth into the future as the knowledge continues to evolve. RNWB?s management believes that its products, processes, and services will create many jobs, both at the individual and corporate level. An exceptional leadership team has been assembled by RNWB to establish the company?s position at the forefront of environmentally friendly business, and to guide its efforts. Their expertise includes new business development and financing, international sales and marketing, industrial renovation, molecular biochemistry, and biotechnology.
Legal Notice:
This press release may contain forward-looking statements, particularly as related to pro forma financial statements, earnings estimates and business expectations, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be ?forward looking statements.? Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. These forward-looking statements are only made as of the date of the press release and The Renewable Corporation and the companies discussed do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: The Renewable Corporation, www.TheRenewCorp.com
Corporate Contact Information: The Renewable Corporation,
Investor Relations: Gary D. Alexander, Corporate Secretary; Email: IR@TheRenewCorp.com ; Phone: 772-380-4320
