Rimrock Gold Corp. (OTC Pinks: RMRK) (the "Company") is pleased to announce the signing of a non-binding Letter of Intent ("LOI") to acquire 100% interest in BluNutric Group Ltd ("BluNutric"), a Wyoming corporation. BluNutric is an eco-friendly and ground-breaking company servicing the algae farming and nutraceutical industry.
Under the terms of the proposed agreement, the Company will acquire 100% of the issued and outstanding shares of BluNutric subject to completion of satisfactory due diligence, and the execution of a Definitive Agreement outlining the terms and provisions of the acquisition. Upon closing, the Company would issue Preferred Shares to the shareholders of BluNutric. Additionally, the Company will move forward in establishing a board of advisors consisting of industry, finance, and business experts.
BluNutrics primary focus is to extract high quality proteins and Omega 3/ EPA oils from nannochloropsis algae. The company will achieve this target through its foundation of scientists who are stalwarts in the algal biology and biotechnology fields. BluNutric has established a key strategic collaboration with the University of Queensland (Agriculture and Food Sciences Faculty) and therefore will have the ability to cultivate this special algae at highly profitable aqua farming production sites near Brisbane, Australia. Australia is a favorable position for BluNutrics production, as the country is known for its ideal solar footprint, which is optimal for algae growth.
BluNutrics location on the estuary of clean rivers minimizes the amount of power required to pump and process water. This allows the company to save on energy usage which leads to reduced costs. Many minerals are absorbed during the nutrition process of the algae. Water used in this process is recycled, and no contaminated waste water is released into the ground at any time. Additionally, because algae uses a high amount of carbon dioxide to grow, the company will have a negative carbon footprint, and will ultimately have a positive impact on the environment.
Algae is quickly emerging to be the most promising long-term, sustainable, as well as highly eco-friendly source of biomass and oils for products such as food, feed, fuel and more.
There are two emerging markets that the company intends to sell their products to:
Global Omega Market ($2.3 Billion in 2021)
Commercial fishing is under huge stress in meeting the demand of Omega fish oils. Our oceans are also massively impacted due to the accumulated toxins found in products from food chains and pesticides. This must serve as a warning on what mankind is consuming and ultimately the potential long-term effects.BluNutric comparatively will have lower production costs which allows the company to provide a superior product at a lower price, reaching higher margins. Supply is unlimited, controllable, impervious to supply-chain interruptions and infinitely scalable unlike fish and krill.
Global Biofertilizer Market ($2.6 Billion in 2021)
Algae can be successfully used as bio-fertilizers to boost crop growth. Algae is rich in various nutrients that are beneficial for both plants and the soil. These nutrients can help improve the growth and yield of plants. When algae decomposes, it releases macronutrients and micronutrients into the soil. Algae are rich in mineral such as potassium which can help enhance root growth and improve the plants drought resistance. A lack of potassium in the soil can cause stunted growth and low crop yield. Dried algae can act as a soil humus. It can help bind the soil and increase water retention capacity. This helps reduce soil loss during the rainy seasons. Dried algae can also help improve soil aeration. Aerated and oxidized soil means the roots can absorb nutrients more easily and grow more vigorously.
Jordan Starkman, the Companys CEO commented, We have been carefully vetting such opportunities, and we are thrilled to present news of this exciting company to our shareholders. BluNutric aims to revolutionize two key global markets. Its mantra to be kind to the environment, sustainable, yet hugely profitable, are traits that make it highly desirable as global focus on climate change strengthens. BluNutrics Director Michael Stayer stated, The foundations are being set for worldwide success and the company is committed to signing distribution partnerships with major players in the market.Our team is looking forward to completing the Definitive Agreement and ultimately closing this transaction.
While the parties have agreed to non-binding terms in a letter outlining their intentions, the transaction has not yet been consummated, and there is no assurance that any such transaction will ultimately close. The Company plans to release additional information concerning the progress of the proposed transaction as soon as possible.
Certain statements in this document that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as anticipate, believe, expect, future, may, will, would, should, plan, projected, intend, and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Rimrock Gold Corp. to be materially different from those expressed or implied by such forward-looking statements. The Companys future operating results are dependent upon many factors, including but not limited to: (i) the Companys ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Companys ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; and (iii) competitive factors and developments beyond the Companys control.
