Omega Brands soon to own Omega Infusion assets

Omega Brands Corporation will purchase specified assets related to the Omega-3 infused beverages and nutritional shots sold under the trade name Omega Infusion^TM, owned by Mycell Technologies LLC. The company also entered into a Supply agreement with Oceans Omega LLC (a wholly-owned subsidiary of Mycell Technologies) for its proprietary omega emulsion. 

The company, which is under new ownership, plans to develop and distribute these and other speciality beverages in North America and other markets. The terms of the asset purchase agreement include:

-The purchase for $1 of the proprietary formulas, trade-names, trade-secrets, trademarks, marketing materials, and internet domains related to the Omega Infusion Business from Mycell Technologies LLC.

-Omega Brands will pay to Mycell a 15% royalty on net proceeds received by Omega Brands from any future sale, license or other disposition of the Omega InfusionTM assets to a third party. 

Omega Brands Corporation also entered into a supply agreement with Oceans Omega LLC, a wholly-owned subsidiary of Mycell Technologies LLC for a term of 20 years. This agreement provides in part for:

-The sale of the proprietary omega emulsion to Omega Brands at a competitive price.

-Omega Brands will pay a royalty to Oceans Omega per 12 pack of Omega Infusion Enhanced Water or Omega Infusion Shots sold by Omega and which incorporate Ocean Omega's omega-3 emulsion. To protect Omega Brands' competitive position during the early stages of the agreement, Oceans will pay to Omega Brands a royalty on omega-3 emulsion sales in North America made to select customers.