NEWS
Articles @thenewswire/roadman-acquisition-target-clov-biopharma-corp-expediteschannel 1 online TodayThis week by@thenewswireon 2 Mar 2020, 08:01 Roadman Acquisition Target CLOV Biopharma Corp. Expedites Corporate Initiatives In Response To Continued Global Spread of COVID-19 (TheNewswire) March 2, 2020 -TheNewswire - Vancouver, British Columbia - Roadman Investments Corp. (TSXV:LITT) (FWB:1QD) (OTC:RMANF) (Roadman Investments or the Company) is pleased to announce that, the Companys pending acquisition target, CLOV Biopharma Corp.(CBP), confirms that it has made an expedited order of certified premium cedar leaf oil under its exclusive licensing agreement so as to expedite its research and development efforts. Additionally, CBP has procured various prototype diffuser units in order test their compatibility and efficiency with its cedar leaf oil vapour (CLOV) compound. Upon receipt, CBP shall focus on: - Continuing studies into killing (inactivating) human respiratory viruses including Influenza, Rhinovirus, Adenovirus, Herpes simplex virus, and coronaviruses includling COVID-19 - Efficiency testing of the CBP stationary and hand-held diffuser units - Branding, packaging and labeling of the diffuser units and CLOV compound formulations - Securing an initial purchase order for CBP diffuser units - Shipment of CLOV compound internationally for lab and quality control testing With the acceleration of the COVID-19 virus which, according to the WHO (https://www.who.int/emergencies/diseases/novel-coronavirus-2019), is now in over 57 countries, with 89,000 confirmed cases and currently over 2,900 deaths, including the first reported death in the United States over the weekend, the search for additional safe and effective methods to protect personal environments from viruses and pathogens is increasing at a rapid rate. In an effort to expedite its corporate mandate of advancing the research and potential commercial viability of cedar leaf oil vapour specifically in the pharmaceutical, healthcare, and biotechnology sectors, CBP has fast tracked additional procurement of certified cedar leaf oil for immediate receipt and testing. CBP has received inbound requests from various international and domestic enterprises that are desirous of obtaining CLOV samples for research purposes. Concurrently, from a consumer standpoint, CBP has fielded increased requests for personal dispensing diffuser devices. In response, CBP is taking steps to increase its deliverable timelines for both of these initiatives. While CBP remains extremely encouraged, based on previous research by Dr. James Hudson, that its CLOV compound can be effective in helping to protect personal areas from many air borne viruses and pathogens, it cautions that this is still under early staged research and development and is not making any express or implied claims that it has the ability to eliminate the COVID-19 virus at this time. CBPs corporate mission is to conduct further research and development of cedar leaf oil vapour (CLOV) for the purposes of preventing the spread of Coronavirus and other similar potentially pathogenic respiratory viruses, for example, influenza and para-influenza viruses, and respiratory syncytial viruses. Previously published manuscripts authored by CBPs medical scientific advisor Dr. James Hudson, a foremost Canadian virologist, have concluded that, in a laboratory setting, CLOV was effective in killing (inactivating) several human respiratory viruses, including Influenza virus, Rhinovirus, Adenovirus, as well as Herpes simplex virus. It was also shown that short-term exposure to CLOV had no adverse effect on cultured lung epithelial cells, thus confirming it is not cytotoxic. Further, it was shown that CLOV also partly reversed the pro-inflammatory effect caused by Rhinovirus infection, which means that it acts as a multifunctional therapeutic agent. CBP has now selected 2 diffusers that it believes will be functional with cedar leaf oil and cedar leaf oil vapour and, as such, it intends to begin immediately begin testing these diffusers. Portable, hand-held,and stationary diffusers have been identified as functional candidates for further testing. Previously, both anecdotal, and laboratory confirmed tests obtained via in field studies in a commercial domicile setting have shown that both mould and bacteria levels had dropped significantly when diffused CLOV was present in the air. Additionally, a 2010 research project by Dr. Hudson showed that cedar leaf oil vapour killed the top medically important antimicrobial resistant organisms that are responsible for hospital-acquired infections. It is the intent of CLOV Biopharma Corp. to further validate these findings and phenomenon and, if warranted, enact a strategy to roll out and commercialize a product suite for personal and household use. Luke Montaine, Roadman CEO commented, The Company is very excited to share these updates on our pending acquisition target CLOV Biopharma Corp. The amount of external interest that has been received is evidence that the there is a market for a product such as this. The popularity shown by consumers for functional diffuser and essential oils marketed by companies like Sage and dOTerra is very encouraging. When you combine that existing demand with scientific studies on compounds like cedar leaf oil it becomes a very compelling consumer packaged goods proposition. Roadman has executed a Definitive Agreement pursuant to which Roadman has acquired, subject to final TSX Venture Exchange approval, all of the issued and outstanding shares of CLOV Biopharma Corp. in exchange for 13,000,000 common shares of the Company. Roadman also announces that David Yoo has resigned as CFO. The Company thanks Mr. Yoo for his services and wishes Mr. Yoo the best on his future endevours.