Foods Matrix Inc. Exploring OTC Markets Listing
FMI is in talks to acquire a distressed food processing unit in the state of Punjab, India for US $3 million. The deal may be sealed by the end of November, 2018, post completion of the ongoing due diligence.
FMI may initially quote on the pink sheet segment of the OTC Markets and may later file a registration statement with the Securities and Exchange Commission on either Form 10 or Form S-1. The company will begin the process of listing early next week and may complete it’s listing in the 6-8 weeks of time frame.
FMI is currently looking to finance the cost of acquisition and working capital required to scale up its business and is in touch with few of the large sized private investors.
FMI is currently looking up to raise $21.21 million to finance its venture and is also open to raise convertible debt.
FMI may appoint an exclusive agent to place shares with the high net worth investors in the US or outside US. The placement may begin in the first week of October, 2018 and shall be completed in 30-45 days.
“India is one of the fastest growing economies of the world. India is no longer a conservative market, people now tend to consume quality products processed in the hygenic plants. The middle class is now spending more and more due to higher disposable income. Imagine the food requirements of 1.3 billion people, it is an exciting market which nobody can miss. Surprisingly, India is also witnessing a stable politics under the leadership of PM Narendra Modi. We are very positive on India and we are all geared up to challenge the existing foreign companies in India with our value for price products. The listing on OTC Markets will give us an opportunity to reach out to right investors and create value for our stakeholders,” said Michel Knockeart, Founder and CEO of FMI.
The food processing business is currently one of the fastest growing sector in India and with the special incentives offered by the Indian government, the desire to enter India magnifies for an corporate like FMI.
FMI aims to processes food products like Yoghurt, Frozen Vegetables and Fruits, Stuffed Parantha (a form of Indian bread), Spices and Herbs and other frozen snacks like Samosas, Veg Wrap, Mini Pizza and Frozen French Fries.
We are a food processing startup processing products like Yoghurt, Frozen Vegetables and Fruits, Stuffed Parantha (a form of Indian bread), Spices and Herbs and other frozen snacks like Samosas, Veg Wrap, Mini Pizza and Frozen French Fries. We are setting the standards through consistent quality, globally certified production facilities and unmatched expertise with love.
Foods Matrix Group Inc. is known for its innovative offerings, packaging and its commitment to quality. Keeping up with changing consumer preferences, the company keeps introducing innovative products which are in line with consumer taste palate.
Foods Matrix Group Inc.
Postal Address: Village Badinpur, P.O. Mandi Gobindgarh-147301 Teh. Amloh, Distt. Fategarh Sahib(Punjab) India
Press Contact: Narender Sharma
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