Additional Large Transactions in the Pipeline
LIVINGSTON, N.J., April 17 /PRNewswire-FirstCall/ -- MM2 Group, Inc. (OTC Bulletin Board: MMGP) announced today that its wholly-owned subsidiary, Genotec Nutritionals, Inc., a New York based nutraceutical company which generates its sales from the distribution of its branded products and through custom formulations for several large strategic partners, has quoted on several large transactions for the manufacture of fish oil sofgels. The sofgels will be manufactured in China at the plant of Genotec's joint venture partner.
The potential customers are second tier (in terms of size) companies in the nutraceutical industry. The transactions, as quoted, are valued at between $136,000 to $204,000 per month.
The current capacity of the state of the art plant is 1.5 billion capsules per year. The plant was designed and built according to the latest cGMP requirements, in full compliance with both U. S. and China standards. The plant is capable of expanding capacity to 5 billion sofgel capsules per year.
Mark Meller, CEO of MM2 Group, commented, "We don't typically announce quotes, as opposed to orders. However, the level of activity for new sales quotes in the days since we announced our order with a major player in the industry has prompted us to release this update. Our plan seems to be working. Having closed a deal with one of the largest and most prestigious companies in the industry, other, smaller companies are looking to us to take advantage of our cost competitive and high quality products. What's exciting is that these transactions are only for a single product, whereas we can manufacture many other products like Vitamin E sofgels. The market opportunity is huge. We hope to be in a position to make several exciting announcements in the near future regarding sales activity from this new venture."
About MM2 Group, Inc.
MM2 Group is involved in the acquisition and build-out of dietary supplement and nutraceutical companies. The company's growth strategy is to acquire firms in this extensive and expanding but highly fragmented segment as it seeks to create substantial value for shareholders. For more information, contact MM2 Group CEO Mark Meller at (732) 290-0019 or by e-mail at firstname.lastname@example.org or Jerry Mahoney at email@example.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to MM2 Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
|SOURCE MM2 Group, Inc.|
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