Construction of Super Store is Approximately 80% Complete Super Store in Fat Hogs Bay (East End BVI) Anticipated to Open by December 2021
MIAMI, FL / ACCESSWIRE / July 29, 2021 / OMI Holdings International Inc. (OTC:OMHI) an owner and operator of super merchandising stores in the Caribbean, today announced its two stores under construction is anticipated to be completed and open; one by year-end and the second store, by the second quarter of 2022. The Fat Hogs Bay (East End BVI) store, which comprises 22,000 square feet, is approximately 80% completed: the sub level and the main floor structure are complete, the elevator shafts have been installed and the build out of the store is expected to soon commence. The Fat Hogs Bay store is a unique retail location with a substantial amount of selling space with total accessibility for disabled customers. The store will occupy a main floor and a sub level: 12,000 square feet of the main level will be devoted to produce, meat and dairy, household goods, laundry supplies and general merchandise, including personal products and health and beauty aids. The sub level will display furniture, appliances, and household goods.
On May 20, 2021, the company announced the formation and start of construction of OM Builders Depot Store in British Virgin Islands. This store, located in Road Town in Port Purcell, Tortola, BVI, is approximately 20% complete. The sand silos are completed. The 15,000 square foot store, which also has outside acreage, is for building materials; including hardware, tools, home appliances, cement products, paint, plumbing supplies and other products and services required by builders and contractors. The store will also sell rebars, gravel, sand, and blocks. The store will service contractors and builders. OM Builders Depot will open by the second quarter of 2022.
The company's first store, One Mart, reported revenue for the fiscal year ended August 31, 2020 of $28 million dollars and $1.5 million in net profit. Founded in 1986, OneMart has grown over the years to be the second largest store in the British Virgin Islands. OneMart company remained steady even during the 2020/2021 covid-19 pandemic.
'Although the pandemic has slowed down the availability of building materials, we are still confident we will open the store in December and be ready for the Christmas holidays,' said Mark Vanterpool, CEO of OM Holdings International, Inc. 'I would like to thank all the local vendors and contractors who have been extremely helpful during the pandemic so we can open in December 2021. We are incredibly pleased with our progress, which is thanks to our great management team. We are aggressively looking at several additional sites for new stores.'
On May 18, 2021, OM Holdings International announced it had completed a reverse merger and had become profitable with the acquisition of OneMart, the second-largest grocery and merchandise store in BVI.
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 Jamaica's largest taxicab union to provide on-demand transportation and delivery 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.
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