(via TheNewswire)
Vancouver, British Columbia - TheNewswire - June 25, 2020 - Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) US (OTC:BLRZF) (the "Company") has been made aware of a statement published by Innovita (Tangshan) Biological Technology Co. Ltd. ("Innovita"), on April 28, 2020, indicating that Innovita has not authorized the distribution of the 2019-nCoV Ab Test Kit (Colloidal Gold) (the "Test Kit") by third-parties in the United States.
Innovita is responsible for the development and manufacturing of the Test Kit, and the Company understands that it granted distribution rights for the Test Kit to Emergence Technology Pty. Ltd. ("Emergence"). The Company previously entered into a definitive agreement with Emergence, dated effective April 21, 2020, in which Emergence granted the Company the rights to distribute the Test Kits in several jurisdictions, which included the United States.
The Company was made aware of the statement by Innovita on May 19, 2020, and has been in contact with Emergence since that time. The Company understands that Emergence continues to assert that it holds distribution rights to the Test Kit and is permitted to license those rights for distribution in the United States. The Company is currently investigating the nature of the statement made by Innovita, and any impact it may have on the activities of the Company. At this time, the Company has not been contacted by Innovita, and Emergence has been responsible for all communication with Innovita. The Company will issue a further news release once this investigation is complete, or clarification is received from Innovita.
The Company also announces that an order (the "Order") suspending trading in its securities has been issued by the United States Securities and Exchange Commission. The Order indicates that it pertains to, "Blackhawk's purported agreement to distribute COVID-19 antibody test kits in the United States and other countries, and its sales and delivery of those test kits." The Order is in effect from 9:30 a.m. EDT on June 23, 2020 through 11:59 p.m. EDT on July 7, 2020.
For further information please contact:
Frederick Pels, Chief Executive Officer
(403)-991-7737
fred@blackhawkgrowth.com
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