LOS ANGELES, June 5, 2014 /PRNewswire/ -- Verde Media Group
Inc. (OTC: VMGI) through its Biotechnology Division (VMBD) is
pleased to announce that it has secured its 40,000-square-foot
construction site in Asia with
joint venture partner, Phoenix Energy. The joint venture with
Phoenix Energy "PXE" is fully financed and involves scaling and
co-developing the BTZ omega-3 technology. BTZ has developed a
proprietary microbial technology to produce high value omega-3 oils
rich in long chain DHA and EPA fatty acids.
The secure boundary wall has been constructed to house the
building site for its facility to convert low cost feedstock to
organic acids as well as the deep earth fermenters for Omega-3 oil
production. As these initial steps are completed,
installation of the first 100,000-liter steel and concrete
bio-fermenter can commence. Additionally, a highly
sophisticated laboratory and housing structure will be
constructed.
The large-scale omega-3 project is the first of its kind and
represents a tremendous opportunity for the company, with secured
access to 300 tons of feedstock per day for the next 25
years. When fully commercialized, the project is expected to
generate annual revenues of $25
million. Butazyme will receive a sum
of $500,000.00 payment for technology transfer and up to
a 10% royalty as an in-licensing fee per annum as part of its
contractual agreement with PXE.
Dr. Hussain Abidi, Ph.D., CEO of
the Verde Media Biotech Division stated, "We're very excited to be
moving along so smoothly with the construction as we progress
towards commercialization. It's a big step for us and
represents tangible forward motion for our expansion plans
throughout Asia and the United States in the coming year."
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:
Agency Division - The innovative Agency division
services- public relations, marketing, and transaction functions
for corporate clientele.
BioTech Division - The Biotech Division manages a
portfolio of biotech companies and 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.
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.
