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.
For more information, visit www.verdemediagroup.com, or connect
with the company on Facebook. Twitter- @verdemediagroup
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING
STATEMENTS
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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SOURCE Verde Media Group Inc.