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SOURCE Verde Media Group Inc.
BOSTON, May 12, 2014 /PRNewswire/ -- Verde Media Group Inc. (OTC:VMGI) and its Biotech Division ("VMBD") announces that Butazyme, LLC, "BTZ" a wholly owned company of VMBD, has broken ground and commenced construction of the omega-3 project site in Asia. The joint venture with Phoenix Energy "PXE" is fully financed and involves scaling and co-developing the BTZ omega-3 technology to 20,000 liters in phase-I. BTZ has developed a proprietary microbial technology to produce high value omega-3 oils rich in long chain DHA and EPA fatty acids. Butazyme will receive a sum of $500,000.00 payment for technology transfer and 10% royalty as licensing fees per annum as part of its contractual agreement with PXE.
Earlier, the two parties have signed a major agreement to develop and market microbial made 'DHA-rich' oils using organic feedstock and geo-fermentation technology. The agreement is a central Asia exclusive commercial license to PXE for existing and future co-developed long chain omega-3 intellectual property. Our technology can produce the same quality long chain omega-3 oils as those found in fish oil, but at 5X the amount present in fish oil that makes our proprietary process commercially viable. We are among the very few that addresses one of the most pressing omega-3 food supply solutions of the 21st century, through alternative microbial based omega-3 oil production which is sustainable and provides long-term preservation of the worlds marine ecosystem.
DHA omega-3 fatty acids have well-documented roles in heart and brain health, child and infant development, treating inflammation and other health functions. The awareness of their health benefits and inclusion in diets – either as supplements or used to fortify processed foods – has grown exponentially over the last decade. The primary source of these long chain omega-3s is fish and demand continues to grow faster than can be sustainably supplied from available stocks. Human demand will require an additional 70 million tons of aquaculture based fish at the same time wild caught fish stocks are predicted to be in severe decline by 2050. Therefore alternative sources to produce omega-3 oils are growing at a rate of 10-12% per annum and expected to grow to a $35B industry in 2020.
Dr. Abidi, Ph.D. CEO of VMBD stated, "We are very excited to rapidly transit from financial closure to construction of the project site that involves scaling our proprietary technology for omega-3 production. We are on schedule to later start commercial scale-up and operations are expected to generate $25 million revenue per annum in phase-II."
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 consists of three divisions:
The innovative Agency division services- public relations, marketing, sales and transaction functions for corporate clientele.
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 CBD for increase in potency and their use in different delivery systems, including sublingual, inhaled dosage forms and blending with food products.
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.
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