Biolife Sciences Corp. entered into a binding agreement to acquire Rhino Novi, Inc. (OTCPK:RNOV) in a reverse merger transaction for CAD 37.5 million on September 1, 2020. The agreement calls for the issuance of 35.7 million Rhino Novi shares to BioLife's current shareholders, the cancelation of 25 million shares held by current Rhino Novi shareholders, and transactional expenses for up to CAD 0.05 million, in exchange for 100% of the shares of BioLife.

BioLife,will become a wholly-owned subsidiary of Rhino Novi. Rhino Novi has filed a corporate action with FINRA to change name to BioLife Sciences Corp. and has filed articles of amendment with the Nevada State.

The corporate action is currently pending with FINRA. Upon completion of the agreement, all current officers and directors of BioLife will be appointed to the Board of Rhino Novi.