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Rimrock Gold Corp Signs Letter of Intent to Acquire BluNutric Group Ltd.
Rimrock Gold Corp Signs Letter of Intent to Acquire BluNutric Group Ltd..
About this update from Rimrock Gold Corp.
[{"type":"text","content":"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.BluNutric’s 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 BluNutric’s production, as the country is known for its ideal solar footprint, which is optimal for algae growth.BluNutric’s 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...