Omega Brands Corporation Announces Definitive Agreement To Purchase Omega Infusion Assets From Mycell Technologies LLC

Omega Brands Corporation (OTC:OMGB) announced today it had entered into a definitive agreement with Mycell Technologies LLC to purchase certain specified assets related to the branded Omega-3 infused beverages and nutritional shots sold under the trade name Omega Infusion^TM. Omega Brands Corporation also entered into a Supply agreement with Oceans Omega LLC (a wholly-owned subsidiary of Mycell Technologies LLC) for its proprietary omega emulsion.

Jim Dickson, CEO of Omega Brands commented “We are excited about assuming ownership of the Omega Infusion portfolio of flavored drinks and shots. Omega Brands Corporation anticipates repositioning these Omega Infusion Brands later this year and will offer the products to major retailers for sale to their customers.”

“We are looking forward to completing this transaction with Omega Brands Inc.” says Dr. Volker Berl, CEO of Mycell Technologies. “The brand Omega Infusion, which we have proudly created, will be in very capable hands to ensure its further growth. The management team at Omega Brands Inc. has extensive experience within the beverage industry which will accelerate the sales and distribution of the Omega Infusion branded products. Mycell Technologies can now concentrate on its core business as a specialty ingredient company to expand the use of its innovative and proprietary omega-3 ingredient solutions to the food and beverage industries.”

Omega Brand’s goal is to develop and distribute specialty beverages such as Omega Infusion products across North America and selected international markets. Our beverages will follow a proven business model from a sales and distribution perspective that target strategic retailers in the Convenience & Gas, Conventional Grocery, Discount Grocery, Mass, Club and Drug channels.

The terms of the asset purchase agreement include:

• The purchase for $1 of the proprietary formulas, trade-names, trade-secrets, trademarks, marketing materials, and internet domains related to the Omega Infusion Business from Mycell Technologies LLC.
• Omega Brands will pay to Mycell a 15% royalty on net proceeds received by Omega Brands from any future sale, license or other disposition of the Omega Infusion^TM assets to a third party.

Omega Brands Corporation also entered into a supply agreement with Oceans Omega LLC, a wholly-owned subsidiary of Mycell Technologies LLC for a term of 20 years. This agreement provides in part for:

• the sale of the proprietary omega emulsion to Omega Brands at a competitive price.
• Omega Brands will pay a royalty to Oceans Omega per 12 pack of Omega Infusion Enhanced Water or Omega Infusion Shots sold by Omega and which incorporate Ocean Omega’s omega-3 emulsion. To protect Omega Brands’ competitive position during the early stages of the agreement, Oceans will pay to Omega Brands a royalty on omega-3 emulsion sales in North America made to select customers.

SOURCE Omega Brands Corporation

• Ingredients
• Raw Materials