SOHM, Inc. Signs MOU with London/Asia-Based Fund to Infuse Funds for Various Projects

Rhea-AI Summary

SOHM, Inc. (OTC PINK:SHMN) has signed a memorandum of understanding with SRAM & MRAM Group for funding its new pipeline projects. This partnership aims to support the company’s growth initiatives that include manufacturing facilities, a potential acquisition, and new product development aligned with its vision of Globalé Prospéro. The funding is expected to be significant and non-toxic, with SRAM & MRAM having a strong record in project financing, including a $900 million infusion. SOHM anticipates completing its projects swiftly, contingent on government approvals.

Positive

• Signed MOU with SRAM & MRAM Group for significant funding.
• Funding will support various new growth projects and acquisitions.
• Non-toxic funding will not dilute shareholder equity.
• Management remains optimistic about achieving higher revenue growth in 2022.

Negative

• None.

CHINO HILLS, CA / ACCESSWIRE / October 18, 2022 / SOHM, Inc. (OTC PINK:SHMN) (the "Company"), a generic pharmaceutical, nutraceutical and cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announces today that it has signed a memorandum of understanding with SRAM & MRAM Group for injections of required funds for the Company's various new pipeline projects.

Today, Mr. Baron Night, CEO, announced that the Company has been looking for new financing for its various new growth projects, which not only include manufacturing facilities and the proposed acquisition of a distribution company but various other new developing pipeline products and life science projects for the next five years, in line with its "Globalè Prospèro" vision.

The Company is very pleased with this new development and the first step toward achieving its long- and short-term goals. The infusion will be a very significant amount without any toxic funding.

SRAM & MRAM Group has headquarters in London and Malaysia, with a presence all over the world, and has successfully accomplished various funding projects, including one with $900 million infusions. SRAM & MRAM Group is headed by its chairman, Dr. Sailesh L. Hiranandani, who is a globe-trotter and has a similar vision and is synergistically aligned with the Company's short- and long-term vision, Mr. Night added.

With this development, SOHM can finish its targeted projects promptly, subject to all government approvals and licensing authorities. The Company plans to update its stakeholders about the new outlook after this significant development.

Management continues its assurance that SOHM will achieve its target for higher revenue growth in 2022 compared to previous years.

About SRAM-MRAM Group:

SRAM & MRAM Group, founded in 1995, is the brainchild of our chairman, Dr. Sailesh Lachu Hiranandani. He is a visionary with a background in financial and risk management strategies and forex management. His career started with commodity trading in India and Cambodia, and he gradually entered FX hedging and rollover market in Tokyo, Hong Kong and Singapore. During this time, the world currency markets were rapidly fluctuating, and he wanted a reliable system to manage the currency risk. This led to him acquiring considerable skills in the areas of finance and trading. www.srammram.com

• Assisted by an able team of information technology and Forex associates he set up what is today, after two decades, a global conglomerate with eight international alliances, 10 companies, five continents, 35+ locations and 300+ employees with a sales turnaround of USD $800 million (FY 2017-2018).
• We are headquartered in the United Kingdom with branch offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh.
• SRAM & MRAM Group's core strengths are agro-products and information technology, with footprints spread across multifarious services, verticals and operations viz. neural networks, artificial intelligence, hedge fund management, forex management, hospitality services & solutions, information technology, media & publishing, embedded systems and infrastructure. We own a chain of exclusive luxury hotels and resorts in Cambodia and Malaysia.
• Chairman leads by example, with astounding financial skills, futuristic vision, grandeur dream and consistent hard work. His life ambition is to bring mainstream business opportunities to the Far East and help them tap their vast natural resources.
• His penchant for new technologies, commitment, excellence and social responsibility continues transversely in all our collaborations and operations. Our share of CSR (corporate social responsibility) is contributed through the Cambodian Indian Association and the 1008 Names of Shiva Association, of which Mr. Hiranandani is the chairperson.
• SRAM & MRAM Group's agenda is to serve the world in partnership with farmers, manufacturers, retailers and customers in processing plants, ports and packaging facilities, on the trading floor and on the move-within an economy and across the globe.

About SOHM, Inc.
SOHM, Inc. is a growing generic pharmaceutical manufacturing and marketing company with a vision of "Globalè Prospèro" that tries to build continuous growth. SOHM manufacturing and marketing targets the rapidly growing healthcare segments, such as nutraceuticals, cosmeceuticals and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India and strategic alliances with U.S. manufacturing facilities. Although SOHM's generic pharmaceuticals are exported globally and were introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America and Southeast Asia.
To learn more about SOHM, Inc., visit www.SOHM.com.

Safe Harbor Statement:
This news release contains "forward-looking statements," which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development-stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report for the most recent fiscal year and our quarterly reports uploaded from time to time on OTCMarkets.com.

For more information, please contact:
SOHM, Inc.
714-522-6700

SOURCE: SOHM, Inc.

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https://www.accesswire.com/720743/SOHM-Inc-Signs-MOU-with-LondonAsia-Based-Fund-to-Infuse-Funds-for-Various-Projects

FAQ

What is the significance of the MOU signed by SOHM, Inc. with SRAM & MRAM Group?

The MOU allows SOHM, Inc. to access significant funding for its pipeline projects, supporting growth without toxic funding.

How much funding is SOHM, Inc. expecting from SRAM & MRAM Group?

While the exact amount is not specified, the funding is described as a very significant infusion for new projects.

What are the key projects SOHM, Inc. aims to fund with SRAM & MRAM Group?

Key projects include new manufacturing facilities, potential acquisitions, and the development of new pharmaceutical products.

What is the outlook for SOHM, Inc.'s revenue growth in 2022?

Management expects to achieve higher revenue growth in 2022 compared to previous years.