Verde Media Biotech Division Announces Acquisition And Partnership With Butazyme - An Omega-3 Oil Producing Company
March 12, 2014 --
BOSTON, March 12, 2014 /PRNewswire/ --Verde Media Group Inc. (OTC: VMGI) and its Biotech Division ("VMBD") announce they have entered into a Letter of Intent ("LOI") to acquire an initial 20% equity stake of Boston based Butazyme LLC, for $2.0 million USD. VMBD has also established qualified terms with the company to jointly scale the platform technology.
Butazyme specializes in the microbial production of an alternative source of omega-3 oils, primarily, DHA and EPA. The global market for omega-3 is expected to reach $34.7 billion in 2016 with a continued accelerated growth rate over the next 5 years. Butazyme's microbial platform competes favorably with both traditional and microbial methods of producing omega-3 oils. Butazyme's competitive advantages include the ability to convert multiple inexpensive feedstocks into omega-3 oils, capability of achieving high yields of DHA oils and the ability to rapidly deploy large scale production to meet growing demands. Butazyme has already achieved semi-pilot scale production of omega-3 oils at 1000-liter scale and is currently scaling to 25,000-liter process.
Dr. Abidi, Ph.D. CEO of VMBD stated, "The strategic acquisition of Butazyme and joint agreement to scale-up omega-3 oil production positions us well for the rapidly growing demand of omega fatty acids. Butazyme utilizes abundant, inexpensive and globally available waste organic materials to produce omega-3 oils, which is in line with our global licensing based business plan. Furthermore, the company is engaged in an oversea revenue generating demonstration scale-up project."
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on the OTC Markets trading under the stock symbol: VMGI. Verde Media Group Inc. The company is consists of three divisions:
Agency Division- The innovative Agency division services- public relations, marketing, and transaction functions for corporate clientele. The agency is rapidly expanding its business in the Denver, Colorado market that will become the largest retail marijuana sector currently legitimized.
BioTech Division- The VMBD division undertakes the business of developing and producing high value bio-products from renewable biomass. The focus and criterion is to develop proprietary microbial technologies with low risk scale-up methods employing low cost feedstock. VMBD will further develop the derivative and ester forms of THC for increase potency and their use in different delivery systems, including sublingual, inhaled dosage forms and blending with food products.
Entertainment Division- The company operates a managed media company with production, distribution, development, and acquisition functions for film and television.
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The results described herein cannot be guaranteed. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions.
SOURCE Verde Media Group Inc.
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