Construction Has Begun on the First Store in Tortola, BVI
Store Anticipated to Open by Christmas 2021
Company Will Open More Convenience Stores in 2022
MIAMI, FL / ACCESSWIRE / August 3, 2021 / OM Holdings International Inc. (OTC PINK:OMHI) an owner and operator of super merchandising stores and delivery services in the Caribbean with a proprietary mobile app, today announced the formation of OneMart convenience stores and the construction of the first OneMart convenience store in Baughers Bay, Tortola, BVI.
The company signed a 25-year lease on the Baughers Bay property and will open a 3000 square foot store in November 2021, taking advantage of the Christmas shopping season. The store will offer smaller SKUs of OneMart super store merchandise alongside a small bakery, pizzeria and delicatessen.
Few new stores have opened in the British Virgin Islands in recent years, creating an opportunity for OneMart to expand its presence nationally. Some locations targeted by OneMart are better suited for small-format stores, which can be readily opened on rented property. OneMart will open its first convenience store near its flagship location, and duplicate the processes developed for additional small-format stores throughout BVI.
“Our concept is to service our customers with convenience store products, both in-store or delivered right to their doorsteps, to make shopping as easy as possible for our customers, and to integrate our location into their communities and neighborhoods,” said Mark Vanterpool, President and CEO of OMHI. Our store is located in a densely populated area near several large apartment buildings and many individual homes, as well as two schools, churches and a public works office. We feel residents, students, visitors and people working near our new OneMart convenience store will benefit from the ease with which they can quickly purchase fresh food and other merchandise.” Our increased store footprint will improve our buying power, with more sales volume, translating to higher profits.
OMHI already has two stores under construction on Tortola, a 22,000 square foot OneMart super store slated to open in December 2021, in Fat Hogs Bay, and a Builders Depot store expected to open in third quarter 2022, while management continues to evaluate new sites for additional super stores and convenient community stores
With its new technology subsidiary, Rydeum Caribbean, Inc., and its new stores, the nine months ended May 31, 2021, has seen the largest expansion program in company history. Management anticipates increased revenue from these activities by fiscal year end August 31, 2022.
About OM Holdings International, Inc.
OM Holdings International, Inc. (OTC: OMHI), founded in 1986 in the British Virgin Islands (BVI) by Mark Vanterpool, 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, founded by Mark Hannah in 2019, has partnered with Jamacia’s largest taxicab union to provide an Uber Eats delivery service model to Jamaican consumers. 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.
SOURCE: OM HOLDINGS INTERNATIONAL, INC.