Rimrock Gold Corp Signs Definitive Agreement to Acquire BluNutric Group Ltd.
Rimrock Gold Corp. (OTC Pinks: RMRK) (the “Company”) announces the signing of a Definitive Agreement (“Agreement”) to acquire 100% interest in BluNutric Group Ltd (“BluNutric”), a Wyoming corporation, dated December 22, 2022. BluNutric is an eco-friendly and ground-breaking company servicing the algae farming and nutraceutical industry.
Pursuant to the Agreement, the Company will acquire 100% of the issued and outstanding shares of BluNutric and its controlling interest in subsidiary, BluNutric Australia Pty Ltd. In consideration, the Company shall issue 400,000 Preferred B shares to BluNutric on closing of the acquisition. The Preferred B shares allows the holder to convert any or all of such shares of Preferred B stock into fully paid and non-assessable shares of Common Stock of the Company in an amount equal to one-tenth of one percent (0.1%) of the then issued and outstanding shares of the Companys Common Stock, per share of Series B Preferred stock. Accordingly, the Companys issued and outstanding Preferred B shares will increase from 500 shares to 400,500 shares. In addition, BluNutric shall undertake to raise a minimum financing of $1,000,000 prior to the closing of the acquisition for the development of algae plants in Brisbane, Australia. The Company and BluNutric expect the transaction to close on or before March 31, 2023. Upon closing, the Company will appoint additional directors and officers to the Rimrock Gold board including a leading scientist from the University of Queensland, and the Companys Articles of Incorporation shall be amended to change the name from Rimrock Gold Corp to BluNutric Inc.
Algae is fast emerging to be the most promising long-term, sustainable, as well as highly eco-friendly source of biomass, and oils for food, feed, fuel and other co-products. BluNutric aims to tap into this market. Upon production commencement, forecasted 5 year revenue aim to reach $120.0 million with $100 million derived from Omega oils sales, and protein/Bio-Mass sales amounting to $20 million.
BluNutrics primary focus is to extract high quality proteins and Omega 3/ EPA oils from nannochloropsis algae. To do this, the company is supported by a group of scientists who are stalwarts in the algal biology and biotechnology fields. The superior knowledge about products and processes allows the establishment of a state-of-the-art production plant at highly competitive costs. BluNutric has the ability to develop processing plants that standardize the oil concentration at new levels, necessary to become a key supplier for the food supplement and for the pharmaceutical industry. BluNutric has a negative carbon footprint, uses alternative forms of energy, does not contaminate the soil, and needs 1/10th of water consumption (i.e. compared to soy cultivations). In addition, BluNutrics algae farming and processing concepts allow for full scalability, as well as time and cost efficiency. The initial farming site will cover a surface of 6 Ha with 12 ponds, expandable to 36 Ha in 5 years.
BluNutric has developed a key strategic collaboration with the University of Queensland (Agriculture and Food Sciences Faculty) and therefore will have the ability to cultivate genetically selected strains of algae at highly profitable aqua farming production sites near Brisbane in Australia. BluNutric plans to set new standards, and uses only naturally selected non-GMO algae strains for the maximization of EPA oil and vegan protein production. BluNutrics algae super strains produce 25 times more protein per acre than soybeans, and nearly 20% more beneficial omega oils than any related strain. Interestingly, the bioavailability of BluNutrics high-concentrated omega-3 oil content (30% EPA) is markedly superior to current market standards such as fish and krill oil.
Australia has been chosen due to its amazing solar foot print which is optimum for algae growth. Lands in the north of Brisbane on the estuary of clean rivers and agricultural lands on the sea with bore water and also brackish water are ideal as they minimize the amount of power required by the water infrastructure to pump water in and process it. We save energy and cost, and water sources are also free and unlimited. All minerals are 100% absorbed during the nutrition process of the algae, all waters are recycled, and no contaminated waste waters can be released into the ground at any time. The company has a positive impact on nature and has a negative carbon footprint due to algae using a high amount of carbon dioxide to grow.
There are two emerging markets that the company intends to sell their products to:
Global Omega Market ($3.8 Billion Size)
Commercial fishing is under huge stress in meeting the demand of Omega fish oils. There is also the huge impact on our oceans, and the accumulated toxins within the products due to food chains and pesticides. This must serve as a warning on what we are consuming and the long term effects of this must be considered.BluNutric comparatively will have lower production costs which allows the company to provide a superior product, at a lower price, with higher margins. Supply is unlimited, controllable, impervious to supply-chain interruptions and infinitely scalable (the exact opposite of fish and krill). The sky is the limit and we aim to make huge waves in this market.
Global Biofertilizer Market ($4.8 Billion Size)
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 breaks down or decomposes, it releases all the macronutrients and micronutrients it contains into the soil. Algae is rich in potassium which can help enhance root growth and improve the plants drought resistance. A lack of potassium in the soil can cause stunted plant growth and low crop yield. Dried algae can act as a soil humus. It can help bind the soil and increase its 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. This is a very lucrative market and one that can provide exceptional revenue.
Upon the closing of the acquisition, we will strategically enhance our management team bringing leadership, extensive financing experience, and vast knowledge of the algae sector, all critical to our global success, stated CEO Jordan Starkman. Together with BluNutric, we are embarking on an exciting journey and we are anxiously awaiting the closing of the transaction.
While the parties have executed a Definitive Agreement, the transaction has not yet been consummated, and there is no assurance that any such transaction will ultimately close.
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.
For more information, please contact:
Rimrock Gold Corp.
Jordan Starkman, President