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
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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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SOURCE Verde Media Group Inc.
