BOSTON, March 31, 2014 /PRNewswire/ -- Verde Media Group
Inc. (OTC: VMGI) and its Biotech Division ("VMBD") announce they
have completed the acquisition of the privately held biotechnology
company Butazyme LLC. Under the terms of the agreement VMGI
through its wholly owned subsidiary VMBD, acquired 51% equity of
Butazyme LLC. valued at $5.0 million
USD
William Veve, President of Verde
Media Group, Inc. stated, "We are very pleased to broaden our
portfolio of market-transforming product in omega-3 industry and
delighted to join forces with Butazyme, combining the complementary
strengths of the two companies. With our internal capabilities in
financing and marketing strategies and Butazyme proprietary
technologies this transaction should result in the rapid production
of omega-3 oils. Butazyme is an important asset to our Biotech
Division and will be instrumental in generating significant revenue
through its licensable platform technologies. "
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 technology competes favorably with both
traditional and other 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., Chief Executive Officer of VMBD stated,
"We are delighted to complete the acquisition of Butazyme along
with its broadly applicable technology platforms, commercialization
expertise and proprietary technologies which are highly valuable
assets that complement VMBD growth strategy. Moreover, with the
wealth of these assets, we will significantly expand our pursuit of
collaborations and strategic alliances with production scale-up and
purchase contracts globally."
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.
