OAKLAND PARK, FL--(Marketwired - Feb 24, 2016) - Biostem Technologies, Inc. (OTC PINK: BSEM) -- Biostem Technologies is pleased to announce executed contract for the purchase of 98 acres of waterfront property for plans to build a rejuvenation spa resort, to include stem cell treatments provided by Biostem Techn
ologies. The property is situated in Reykjavik, Kjalarneshreppur and is approximately a 20-minute drive from the city centre. The signing signifies momentum toward developing "Nesvik" into a forward looking, luxurious and desirable location.
The ISK 145,000,000 (Approx. $1.12 mil USD) purchase agreement from Pera ehf, a company registered in Iceland enables the Biostem Technologies to move ahead with plans to expand into European markets. This expansion is expected to help position Biostem Technologies for continued diversification and economic development opportunities that will benefit the company and shareholders alike.
"The purchase agreement of this parcel of land for future development is a significant step taken in Biostem's commitment to building our international brand and positioning the company and shareholders for future prosperity," Jason Matuszewski, President and Chief Executive Officer, said.
Iceland is known around the world for its natural magnificence, geothermal power, and has become a booming tourism destination. The tourism industry has been growing drastically over recent years in Iceland, "Revenue from foreign tourists amounted to ISK 158,5 billion in 2014, i.e. ISK 27 billion more than in 2013. This represents a year-on-year increase of some 20%," Statistics Iceland.
Biostem Technologies is currently in negotiations with a "green" property development firm out of California for the development of the projected 100+ room facility. The Company believes that as Iceland is one of the fastest growing tourisms destinations in the world, and a central location between the Eastern US and Europe, this location will provide a perfect location to expand Biostem's business model for cellular treatments. We look forward to aiding in the stimulation of Iceland's local and national economy through providing jobs to natives and attracting tourism.
Renovations for the two existing buildings on the property are underway and should be completed by end of Q1.
Statistics Iceland Source:
About Biostem Technologies, Inc. (BSEM):
BioStem Technologies (BSEM) is engaged in the advancement of regenerative medicine and antiaging strategies throughout the United States, Europe and Mexico. BSEM's goal is to deliver the highest standard wellness and stem cell products that are backed by science. Through scientific studies, we seek to become a world leader in the wellness arena. This will be accomplished by using high quality nutraceuticals and stem cells. Our state of the art laboratory is the first significant step in our quest to introduce the world and our shareholders our dedication to you and your well-being.
Mission Statement- Biostem Technologies is a Global Leader in Anti-Aging research. We are focused on advancing your quality of life, health span and wellness.
Vision Statement- Biostem Technologies is a group of scientists, physicians, and visionaries creating the possibility of living life to its fullest. Our products and strategies are dedicated to helping you live your best, feel your best, and be your best.
Forward-Looking Statements Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," believe" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and additional risks factors as discussed in reports filed by the company with OTC Markets.