BEMAX INC. (OTCMKTS:BMXC) Files An 8-K Other EventsItem 8.01 Other Events
On May 12, 2017, the Company’s Board of Directors approved the purchase of a 1.5 acre landed property (“the property”) in the city of Lagos for construction of production facility in West Africa.
The Production plant will manufacture Bemax disposable baby diapers brands for the West, East and South African markets, and eliminate the substantial costs associated with customs clearing. The Company will continue to use quality U.S manufacturer to meet customers demand for the U.S and European markets.
Construction of the production facility will commence in October of the current year. The project is estimated to be completed in June of 2019. When completed, the facility will house both the Company’s production plant, as well as space for commercial leasing to provide additional revenue stream to the Company.
About BEMAX INC. (OTCMKTS:BMXC)
Bemax Inc. is a development-stage company. The Company is focused on exporting and distribution of disposable baby diapers. It exports disposable baby diapers from the United States and Canada, and distributes them in London, and South Africa. The Company also exports from manufacturers from Asia and distributes to other parts of Africa. The Company offers disposable diapers range in size from Newborn to Size six, which accommodates an over 35 pounds (lbs) child. The normal size weight ranges are approximately 10 pounds: newborn; 8 to 15 pounds: Size 1-2; 16 to 28 pounds: Size 3; 22 to 37 pounds: Size 4; 27 plus pounds: Size 5, and over 35 pounds: Size 6. BEMAX INC. (OTCMKTS:BMXC) Recent Trading Information
BEMAX INC. (OTCMKTS:BMXC) closed its last trading session up +0.00010 at 0.00730 with 41,017 shares trading hands.