MIAMI, FL, June 02, 2022 (GLOBE NEWSWIRE) --
OM Holdings International Inc (OTCQX: OMHI) expands its footprint with the grand opening of its first neighborhood OneMart store in Baughers Bay, British Virgin Islands (BVI). The design and location add to the OneMart’s ‘People’s Store’ concept by being conveniently located near residential areas and in line with the company strategy and vision to meet customers’ needs in their communities and will further promote the delivery app ‘DoGetGo’.
Mark Vanterpool, President, and Chairman of OM Holdings International, Inc., stated, “OneMart new stores expansion continues despite delays. Asdue to logistical and equipment manufacturing issues. During the COVID-19 Pandemic, sourcing equipment for supermarkets has been challenging. However, we successfully solved this by accessing auctions of existing equipment.”
“Our business plan includes eight new OneMart store openings throughout BVI over the next two years. We intend to develop a network of stores across the BVI that will serve as like Amazon-like hubs to facilitate faster delivery times of essentials through the DoGetGo Super App. As we open new stores, we believe there will be a benefit from economies of scale allowing us to increase profit margins as a result of our purchasing power,” concluded Mr. Vanterpool.
The company is pleased to provide an update on the East End Store: East End Fat Hogs Bay superstore is scheduled to open in the third quarter. The New East End Store construction is completed, equipment and shelves are in place, and equipment installation and testing is in progress.
About OM Holdings International, Inc.
OM Holdings International, Inc. operates delivery services and grocery stores in the Caribbean, with a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OHMI's delivery subsidiary, Rydeum, has partnered with Jamacia’s largest taxicab union, JUTA. The company also provides lumber and other construction supplies to contractors throughout the Caribbean.
For more information, please visit https://omholdingsinc.com/.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
OneMart store in Baughers Bay, British Virgin Islands (BVI)
CONTACT: Andrew J. Barwicki, Barwicki Investor Relations, Inc. T: 516-662-9461 30 Wall Street, 8 FL New York, NY 10005