MIAMI, April 30, 2024 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTC: UMEWF) is thankful to have the opportunity to update existing and future shareholders of the company operations and 2024 strategy to generate revenue and debut new technologies to the United States. The CEO Michael Lee provides this information as consideration and diligence for current investors and accredited investors looking for new ESG based opportunities.
Details of Investor Update;
1. UMEWF secured an exclusive license to use proprietary enzymatic technologies to manufacture and sell DAG weight loss cooking oil across North America. This allows the company to move forward with the purchase of a Miami based nutritional supplement retailer. (The Miami acquisition provides online distribution platform for the DAG oil)
2. Pivoting the company focus toward ESG based operations in the United States. UMEWF is committing itself 100% to the enzymatic production of biofuel and a weight loss cooking oil which uses an all natural process to refine its new product lines, DAG oil and Biofuel which is identical for either operations and of course, the company has the exclusive license to use it in North America.
3. The company currently has a LOI to acquire certain palm oil mills in Malaysia, and a JV with a state-owned oil and gas company to build the world first IPOD (Integrated Palm Oil Development) making the company dream a reality upon closing. The IPOD will use the same proprietary enzymatic technologies that produce the DAG oil to convert palm oil and palm oil mill effluent (POME), into high-value sustainable fuels and chemicals. POME is a wastewater generated from palm-oil milling activities which will be used as feedstocks.
Historically, the leftover water from the steaming process in palm-oil milling isn’t used, and it evaporates into methane, causing GHG emissions. UMEWF will be harnessing this gas to create renewable fuel.
4. UMeWorld is currently raising a $2,000,000 investment from a combination of institutions and accredited investors for the purposes of the proposed acquisition, Nasdaq uplisting expenses and working capital.
5. CEO Michael Lee will host a webinar on May 14th, 2024, to update investors about UMEWF’s strategic plan to become an integral supplier of food and renewable fuel applicable across a variety of industries. The details of the investor webinar will be released on Thursday May 2nd, 2024.
“This is a very special time for us at UMeWorld as we bring ESG based technologies to the US. Cooking oil, as a division of UMEWF will have the ability to produce $200,000,000 a year of product from just the one facility in Miami where we’re moving our corporate headquarters to, and that’s too big of an opportunity to pass up. The proposed acquisition will immediately put $5,000,000 in revenue on the books. These acquisitions will open a lot of doors into developing a plan toward our second point of operations, biofuel.” Said Michael Lee - CEO of UMEWF enthusiastically.
The company has set a timeline of 90 days to execute on its acquisition and uplisting plan. Post acquisition the company will relocate its headquarters to Miami, FL and initiate the uplisting process to the NASDAQ stock exchange. UMEWF currently has secured interests from an investment banker, a notable financier of small cap companies, to underwrite the move once the application has been submitted.
About UMeWorld:
UMeWorld is pioneering the future of weight conscious cooking oils and biofuel based renewable energy by bringing proprietary enzymatic refining technologies to the United States. UMEWF is building a comprehensive offering for ESG investors by utilizing 100% all natural refining processes with cooking oils and biofuels, and downstream value-added investment opportunities to environmentally conscious investors. Our mission is to become a notable supplier of a greener, healthier product line in two verticals, meeting the diverse needs of health ranging from food and feed to oleochemicals and biofuels. Join us on this exhilarating journey towards a sustainable and health-conscious future.
Enzymatic oil refining; The enzymatic oil refining process is a modern, eco-friendly alternative to conventional chemical refining methods used for edible oils. This process involves using specific enzymes to catalyze reactions that can refine oils by removing unwanted compounds such as free fatty acids, phospholipids, and pigments, which affect the taste, color, and stability of the oil.
About Dagola Inc.
Dagola Inc. is a wholly-owned U.S. subsidiary of UMeWorld Limited. Dagola Inc. is engaged in the sales and marketing of novel foods in North America. For more information about Dagola Inc., please visit www.dagolaoil.com.
Forward-Looking Statements
This press release may contain forward-looking statements, about UMeWorld's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, UMeWorld or its representatives have made or may make forward-looking statements, orally or in writing.
Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by UMeWorld with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of UMeWorld's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause UMeWorld's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause UMeWorld's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in UMeWorld's filings with the SEC. In addition, UMeWorld operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. UMeWorld does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 20-F and other periodic and current reports filed with the Securities and Exchange Commission.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6b8ab75-184f-4648-832b-37d143f512fe
