Builders Depot Store Will Cater to Building and Construction Industry in the Caribbean
Construction Commenced March 2021 Adjacent to Company's Flagship OneMart Store
Store Will Comprise 15,000 Sq. Ft. and Outside Acreage for Raw Material Use
MIAMI, FL / ACCESSWIRE / May 20, 2021 / OM Holdings International, Inc. (OTC PINK:OMHI), an operator and manager of OneMart super merchandising stores in the Caribbean, today announced it has begun construction on a new store, its second within a month, with construction expected to be completed by the end of this year.
OM Builders Depot costing $4 million is expected to add $5 million in Sales to the OMHI Group in the first 12 months with $1 million in operating profits.
OM Builders Depot will comprise 15,000 square feet and will provide building materials, hardware and tools, home appliances, cement, paint and plumbing supplies to builders and contractors, white sand, gravel, rebars, blocks and lumber will be available for purchase outside the building.
OMHI has signed a long-term lease on an acre of property for the Builders Depot store - its land costs are minimal, and the company expects significant profits and growth from this property alone. Builders Depot is 200 feet from the first OneMart and several miles from the new store, where construction is underway. OM Holdings International, Inc. became a holding company of K-Mark's Foods (1996) Limited, which originated from a company founded in 1986 in the BVI by Mark Vanterpool and family.
"We are expecting explosive growth in the Caribbean, and we see extremely high demand for this kind of an enterprise," said Mark Vanterpool, President and CEO, who founded K-Mark's Foods (1996) Limited, a subsidiary of OM Holdings International, Inc. since 2020. "I am very excited about expanding our business throughout the Caribbean, and I look forward to building a number of these stores. I also want to express my appreciation for our management team, which has outperformed the board's expectations. We now have two stores under construction, and we are looking for three more store sites in other parts of the Caribbean."
Since 2017 building regulations in the Caribbean have changed dramatically, with the entire area following specifications developed in the USA. Even during the ongoing COVID-19 pandemic, the real estate activity in the Caribbean is seeing a strong recovery and now, with the pandemic beginning to ebb, international purchasers and resort development have increased their activities, with many purchasing second and even third properties, which bodes well for the region's construction industry.
About OM Holdings International, Inc.
OM Holdings International, Inc. (OTC: OMHI) operates delivery services and grocery stores in the Caribbean. The company's storefront, OneMart, is the second-largest grocery store in the BVI. The company also provides lumber and other construction supplies to contractors in the BVI and soon throughout the Caribbean. The company intends to be at the vanguard of the intersection of retail and LOCAL ON-DEMAND ECONOMY TECHNOLOGY (LODETECH) for emerging markets like the Caribbean.
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.
Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: [email protected]
SOURCE: OM HOLDINGS INTERNATIONAL, INC.