OneMart Dockside is Located in the Largest Charter Yacht Marina in BVI
Store Expected to Open in 1st Quarter of 2022
Fourth New Store Under Construction Since May 2021
MIAMI, FL / ACCESSWIRE / August 5, 2021 / OM Holdings International Inc. (OTC PINK:OMHI) an owner and operator of delivery services and retail stores in the Caribbean with a proprietary mobile app, today announced a 25-year-lease of a building at Wickham's Cay II in Road Town, Tortola, BVI.
The existing building will require remodeling, which is anticipated to be completed by December 2021, in time for an expected robust charter yacht tourist season. The store is located at the entrance of Wickham's Cay II, within a five-minute walk of the largest charter yacht marina in the Caribbean, The Moorings, and BVI Yacht Charters Group. The Moorings marina has slips for more than 300 catamarans and yachts of all sizes.
The location of the new dockside marina store (the "Store") is in the center of the city carriage way. The Store will provide goods and services for visitors, for residents and for people who work at the marina and nearby offices in Road Town. The Store will occupy 6,000 square feet and will carry every grocery product available at OneMart, plus general merchandise mariners and yacht crews may need. The Store will also offer a full line of fresh baked goods and coffee and freshly made sandwiches.
"As I have announced previously, our business plan calls for a major expansion of new stores and the development of new store concepts," said Mark Vanterpool, CEO of OMHI. "To date we now have two stores under construction, our flagship store is having a good year despite the Covid-19 pandemic, and our first Builders Depot and convenience stores are nearing completion."
"Our management team has years of experience in the provision of the pleasure craft industry in the Caribbean, and we are leveraging this experience as we examine potential locations for new community stores, particularly near busy marinas in the region, which are seeing strong bookings post pandemic for the 2021/2022 season," Mr. Vanterpool added. "We believe there are huge opportunities for our company ["OM Holdings International Inc. "] in the Caribbean, and the larger we become the better able we are to take advantage of economies of scale and use our buying power to continually bring lower-priced goods and services to the communities where we do business. This increased buying power also means we can make our product mix more diverse and provide our customers with products heretofore unavailable in the region."
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 the end of 2021.
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.