Fourth OneMart Store Marks Milestone, OM Holdings International, Inc. Maintains Expansion Momentum and Outlines Future Plans
OM Holdings International Inc (OTCQX: OMHI) has announced the opening of its fourth OneMart store in the Caribbean, located in Lower Estate, in a bid to expand its retail presence. This new store is part of a strategic plan that includes the exploration of additional stores and the use of Micro Fulfilment Centers (MFCs) to enhance order processing and delivery. The company aims to provide a seamless shopping experience through its DoMart feature on the DoGetGo App. OMHI is also considering an up-listing to the Nasdaq or a secondary listing on the TSX-V to broaden its shareholder base and secure funds for growth initiatives. Mark Vanterpool, CEO, emphasized the company's focus on adapting to consumer preferences as it aims to transform the retail landscape in the Caribbean.
- Opening of the fourth OneMart store demonstrates growth and commitment to expansion.
- Exploration of MFCs can improve efficiency in order processing and delivery.
- Plans for up-listing to Nasdaq or secondary listing on TSX-V could attract more investors and capital.
- None.
MIAMI, April 17, 2023 (GLOBE NEWSWIRE) -- OM Holdings International Inc (OTCQX: OMHI) proudly announces the recent opening of its third OneMart store in the last 9 months. The latest addition is the company’s Lower Estate location, bringing the total to four of the popular OneMart stores now in operation. This milestone marks a significant step in the company's ongoing expansion, with each new store varying in size and amenities to serve as blueprints for future growth across three distinctly different market sizes. OMHI is also focusing on increasing revenues for the upcoming fiscal year as it continues to expand its retail footprint in the high consumer density Caribbean region.
OMHI is actively exploring the possibility of expanding its presence in other Caribbean islands and is currently analyzing acquisition targets to accelerate growth. As part of its strategic plan, the company is researching the implementation of three different sized Micro Fulfilment Centers (MFCs), tailored to match the size of its three previous stores. Some of these MFCs may function as Dark Stores, focusing exclusively on online orders, which enables faster order processing and delivery times for customers. With the upcoming launch of the DoMart experience on the DoGetGo App, OMHI is poised to transform the retail landscape in the region, offering customers an innovative and seamless shopping experience.
The OMHI Lower Estate store marks the fourth OneMart location, joining the existing Purcell Estate, Baughers Bay, and East End supermarkets. This new addition highlights the company's dedication to making shopping more convenient by strategically placing stores within people's communities. At the core of OMHI's mission is a customer-centric agenda, focused on the specific needs and desires of our customers. We aim to give them the freedom and power to shop according to their preferences, ultimately enhancing their overall shopping experience.
In support of OMHI public equity, the board of OM Holdings International Inc. is actively exploring options for up-listing to the Nasdaq and/or a secondary listing on the Toronto Stock Exchange's Venture Exchange (TSX-V) as part of its growth strategy. By pursuing these listings, the company aims to broaden its shareholder base and secure additional capital to fuel future expansion plans. This move demonstrates OM Holdings International Inc.'s commitment to creating value for its shareholders and enhancing its position as a leading omnichannel retail solution provider in the Caribbean region.
Mark Vanterpool, CEO and Chairman of OM Holdings International Inc., stated, "Our mission is to bring an omnichannel solution to the Caribbean, where customers have the flexibility to choose how they shop, whether through delivery, pick-up, or traditional in-store experiences. With our continued expansion and the upcoming launch of the DoMart experience on the DoGetGo App, we are poised to transform the retail landscape in the region."
The new OneMart stores serve as a testament to OMHI's commitment to providing customers with a seamless and convenient shopping experience. As the company continues its expansion in the upcoming calendar year, it aims to further its reach and cater to the diverse needs of the high value Caribbean market.
About OM Holdings International, Inc.
OM Holdings International, Inc. 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, has partnered with Jamaica's largest taxicab union, JUTA. The company also provides lumber and other construction supplies to contractors throughout the Caribbean. For more information, please visit https://omholdingsinc.com/.
Forward-Looking Statements
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 commercial
Mark Vanterpool
Chief Executive Officer
T: 305-901-1497
Email: us.info@omholdingsinc.com
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