UMeWorld Announces Strategic Expansion in the U.S. and Forecasts Significant Revenue Growth

HONG KONG, May 16, 2024 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTCPK: UMEWF) is pleased to announce a strategic plan for expansion in the United States. Having secured proprietary enzymatic technologies for health-centric products and biofuel production, this plan seeks phased development of a large-scale production facility in Miami to expand the production capacity and market presence of the company in key target markets.

Strategic Expansion Through Phased Development

Phased development shall occur across three primary phases:

Phase 1: Bottling Operations

• Bottling operations are set to commence by Q1 of 2025 through the establishment of a Miami-based commercial bottling facility, where DAG oil will be imported in bulk 200 kg drums and bottled on site. Seeking to quickly establish UMeWorld's presence in the U.S. market, this phase aims to leverage a to-be-acquired retail distribution channel. Having over 10,000 registered customers, this retailer spans significant sales channels including Amazon, eBay, and Walmart.
  

Phase 2: Small-scale Manufacturing

• An accompanying domestic manufacturing facility is planned for construction in the final quarter of 2026. This move is expected to streamline production, enhance product appeal and align with consumer preferences for locally made products. Upon completion of the manufacturing plant, UMeWorld anticipates generating sales of up to $200 million annually from DAG oil in the USA.
  

Phase 3: Large-scale Manufacturing

• Scheduled for Q1 of 2028, UMeWorld will seek to construct a large-scale facility to grow production capacity from around 10,000 tons/year to approximately 100,000 tons/year. Upon completion, this plant is forecasted to have an annual production value of over USD 2 billion.
  

Palm Oil Production Forecast

In tandem with DAG oil production, UMeWorld plans to commence production of palm oil pursuant to an executed letter of intent and following acquisition and operation of a palm oil mill thereunder. The company projects that this operation may generate north of $100 million within the first 18 months, enhancing its portfolio and market reach.

CEO’s Vision for Growth

Michael Lee, CEO of UMeWorld, expressed his enthusiasm for the company’s strategic initiatives, stating, “The phased development of production facilities in Miami will mark a significant milestone in UMeWorld’s journey towards becoming a global leader in the biotechnology industry. These initiatives will allow us to leverage cutting-edge technology to produce high-quality, sustainable products that meet the evolving needs of consumers."