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 Negotiates New Beef Contracts for importation into Malta, First Shipment $381,946 - EconoTimes)
NEW YORK, March 22, 2018 -- SoOum Corp. (OTCPINK:SOUM) announces partnering with Flying W. Ranch, a black angus cattle ranch located in the southwest region of the United States. The agreement calls for Flying W. Ranch to supply SoOum Corp. 100% USDA Beef and live cattle for importation into the Mediterranean basin and surrounding regions.
Currently, SoOum Corp prepares its first shipment to Malta of various cuts of beef valued at approximately US $381,946.00. The current beef shipment and future shipments are to originate from Fort Worth, Texas, USA, destined for Malta - Freeport, an International port on the Island of Malta.
To accommodate the new partnership and facilitate future transactions, the Company recently formed a Maltese subsidiary called SoOum Malta Limited, located in an area designated as an international zone on the Island of Malta. This location is strategic for SOUM, as it is not regulated by the EU; allows for ease of distribution across Europe, as well as the local Maltese markets.
All beef products are 100% USDA, as well as Halal certified. The Company said further updates will follow.
About SoOum Corp
SoOum Corp is a publicly held (OTCPINK:SOUM) Physical Commodities International Trading firm. Specializing in arbitrage based transactions of Physical Commodities, as well as offering an e-commerce Trading Platform. www.sooum.com
Cautionary Note Regarding Forward-Looking Statement
Statements in this press release regarding the Company’s business which are not historical facts are “forward-looking statements” that involve some risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement
Contact:
Steve Messina
646-801-3772
[email protected]
