BMCS - Firm Shifts into Calcium Business Model With Acquisition

2023-10-02 10:43:24 ET

With an annual growth rate of 6.6 percent, the global calcium carbonate market is seeing increasing demand for paper from packaging applications and hygiene-related products. %BioTechMedics (OTC PINK: ) announced in a press release today the acquisition of significant organic calcium carbonate assets and the intention to begin supplying the industry with calcium and produce a number of products to generate revenue. The firm also said that going forward its business model will focus on calcium, silica and carbon credits.

Last month, company management traveled to the Dominican Republic to meet and finalize an agreement in which BMCS acquired 2 million metric tonnes of medical-grade calcium carbonate with an option on another 48 million tonnes in the future. Shares were trading at $0.024 in morning trade.