HONG KONG, Aug. 15, 2022 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTC PINK: UMEWF) today announced that it has signed a letter of Intent (LOI) to acquire up to 80% interest in a profitable, nutritional supplements sales and marketing company based in Florida which generated net sales of US$ 7.40 million and US$ 6.25 million in 2020 and 2021 respectively.
Per the terms of the LOI, UMeWorld has proceeded with formal due diligence process and expects to close the transaction on or before October 4, 2022. In anticipation of closing the proposed acquisition, the Company is planning to relocate its corporate head office from Hong Kong to Florida to better serve its customers.
The Company is transitioning itself into a health and wellness company through its Dagola™ brand DAG (diacylglycerol) cooking oil business unit and the proposed nutritional supplement distribution business unit. Dagola cooking oil is now available on Amazon at http://www.amazon.com/dagola for the US market and the Company’s online shop at www.dagola.hk for the Hong Kong market. For more information about Dagola cooking oil, please visit www.dagolaoil.com.
About UMeWorld Limited
UMeWorld Limited is a health and wellness company with a mission to help its customers live healthier. The Company, through its subsidiaries, plans to operate in the sales and marketing of diacylglycerol cooking oils and nutritional supplement & raw material business.
PR Contact
UMeworld Limited
Michael Lee, CEO
E-mail: info@umeworld.com
