BOSTON, April 16, 2014 /PRNewswire/ -- Verde Media
Group Inc. (OTC: VMGI) and its Biotech Division ("VMBD") announce
they have secured an overseas contract in Asia to produce high value omega-3 oils using
its proprietary microbial technology. The contract is between
Butazyme LLC, wholly owned subsidiary of VMBD, and Phoenix Energy
("PXE") in Asia and will be
jointly developed to commercial scale. Butazyme will receive a sum
of $500,000.00 payment for technology
transfer and 10% royalty as licensing fees per annum.
Butazyme has initially conducted technical feasibility for
Asia project via Biothane, a
subsidiary of Veolia Water Solutions & Technologies, in
the US. The project will involve scaling the technology to 20,000
liters in phase-I followed by 200,000 liter scale up in phase-II.
PXE has committed financing for Butazyme technology scale-up and
300 tons per day of feedstock that can be converted to 1000 tons
per annum of Omega-3 oils. The commercial production will generate
revenues upward of $30M per annum
with the local feedstock secured for 25 years.
Dr. Abidi, Ph.D. CEO of VMBD stated, "The strategic relationship
with Phoenix Energy validates our business model to scale the
technology with global licensing to industrial users. The contract
will not only scale the technology to commercial stage but will
generate multiple streams of revenues for VMGI. We anticipate a
similar business model in the US and elsewhere for the $34.7 billion omega-3 market."
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, sales and transaction functions for corporate
clientele.
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 CBD for increase in 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.