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China New Energy Group Company/Thrive Testing and Biosafety Announces Closing of a Private Financing


Thrive Focus: Biodefense solutions to keep people and places safe.


Spokane, WA – TheNewswire - March 30, 2023 – China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., “CNER” or "Company") (OTC:CNER)  announced  the closing of a private  financing of the Company of USD$193,800.00.


The financing, in summary, took the form of a private transaction whereby the Company issued restricted common stock and a promissory note for total proceeds of $193,800 dollars. The note included interest based on a 6% coupon accruing to maturity in 12 months, certain conversion rights, and other terms, including customary promissory note provisions. The Company anticipates using the proceeds for operations, general working capital, marketing and public company regulatory compliance services and expenses.  


About Thrive Testing and BioSafety Inc.

Thrive Testing and Biosafety Inc. works with leading research and development companies around the world to license enabling technology for the delivery of Biosafety as a Service (“BaaS”) to Points of Entry (Airports, Sporting Events, Schools, Businesses) and to develop a concierge service whereby testing can be ordered and performed on demand at the doorstep of your home or business.  Testing of bacteria and viruses on surfaces, in water, in air, and in humans on a decentralized basis will speed up detection capabilities with the goal to create a real-time global early warning system.  Thrive's goal is to use this system to identify bacterial or virus breakouts before the next pandemic happens, protecting people and places.  Thrive’s core strategy is to acquire enabling technology companies and integrate all the technology under one roof and 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, the Company 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. Nothing in this release is intended to be an offer of sale or purchase of any securities nor a solicitation of any offer for the sale or purchase of any securities.


China New Energy Group Company Contact:


Guy Zajonc