Vancouver, BC / ACCESSWIRE / August 6 2014 / Brand Marvel Worldwide Consumer Products Corporation (the "Company") (TSXV symbol: BMW) is pleased to provide updates of the Company on the following areas:
1. New OEM Contracts
The Company, through its wholly owned subsidiary, Beijing Marvel Cleansing Supplies Co. Ltd. ("Beijing Marvel), recently signed three OEM contracts with three different OEM partners to produce six different types of specialty personal wet wipes and five different types of functional wet wipes under their own brand names. The Company expects that these three contracts will generate an annual sales revenue of around RMB30,000,000 (approximately C$5,333,997).
2. Acquisition of a China local consultancy firm
The Company recently signed a contract to acquire a China local consultancy company which operates an internet platform called "Hao Shou Yi" [website address: www.hchaoshouyi.com (in Chinese only)] and acts as an agent to raise debt financing from the national investors in China for local private companies at a lower overall cost. The Company has to pay a cash consideration of RMB600,000 (approximately C$106,680) for the acquisition. Hao Shou Yi will assist our wholly owned subsidiary, Beijing Marvel, to raise debt financing in China so as to reduce the overall cost of financing to be incurred.
"Through the acquisition of Hao Shou Yi internet platform, the bottom line of Beijing Marvel will be substantially improved as our current cost of debt financing eats up most of our bottom line", said Liao Yongliang, President of the Company. "Hao Shou Yi will also make contribution to the bottom line of our whole group of companies as it will provide similar services to other local Chinese companies."
An exchange rate of 5.6243:1 is used to convert Chinese Renminbi into Canadian dollars equivalent.
About Brand Marvel Worldwide Consumer Products Corporation ("BMW")
Brand Marvel Worldwide Consumer Products Corporation ("BMW") is a public company listed on the TSX Venture Exchange under the trading symbol "BMW". Through its operating arm and wholly owned subsidiary, Beijing Marvel Cleansing Supplies Co. Ltd. ("Beijing Marvel"), the Company manufactures and distributes wet wipe products, liquid disinfectant products, liquid cleansing products and liquid laundry products in the People's Republic of China ("China").
Beijing Marvel currently produces and distributes non-woven wet wipe products, including general, baby, man, woman, functional and hygienic, for both domestic and international markets under the brand names "Snowtree", "Dreamboat" or OEM orders. Beijing Marvel also produces and distributes in China liquid disinfectants, liquid cleansing products and liquid laundry products under its own brand names or OEM orders. Beijing Marvel is a leading name in China with a national wide distribution network on its fast moving consumer products.
On behalf of the Board of Directors
President and Director
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business. As a result, actual results may vary materially from those described in the forward-looking statement. Undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Brand Marvel Worldwide Consumer Products Corporation