Company Announcements

HONG KONG, May 23, 2024 (GLOBE NEWSWIRE) -- UMeWorld Limited (OTC: UMEWF), a leading company in ESG-based cooking oil and biofuel technologies, is pleased to invite investors to a special webinar hosted by the company's CEO, Michael Lee, on June 4, 2024, at 12:00 noon EST. (Webinar Registration Link) This webinar will provide an in-depth update on UMeWorld's recent strategic developments, acquisition plans, and future directions.

Webinar Details:

• Date: June 4, 2024
• Time: 12:00 pm (noon) EST
• Host: Michael Lee, CEO of UMeWorld Limited
• Registration link | Webinar Registration Link

Key Points to be Covered:

1. Exclusive License for Enzymatic Technologies: UMeWorld has secured an exclusive license for proprietary enzymatic technologies to manufacture and sell DAG weight loss cooking oil across North America. This strategic move supports the recent acquisition of a Miami-based nutritional supplement retailer to enhance online distribution channels​.
2. Pivot to ESG-Based Operations: The company is shifting its focus to environmentally and socially responsible operations in the United States. This includes the enzymatic production of biofuel and weight loss cooking oil​.
3. Acquisition of Palm Oil Mills: UMeWorld plans to acquire several palm oil mills in Malaysia. These mills will use proprietary enzymatic technologies to produce sustainable fuels and chemicals from palm oil mill effluent (POME), significantly reducing greenhouse gas emissions​.
4. Fundraising Success: The company's fundraising efforts have been highly successful, with insiders already contributing $500,000. UMeWorld is raising up to $1,200,000 to support this upcoming acquisition, Nasdaq uplisting expenses, and working capital​.
5. Headquarters Relocation and Nasdaq Uplisting: UMeWorld will relocate its corporate headquarters to Miami, FL, and aims to uplist to the NASDAQ stock exchange within the next 90 days. This move is expected to enhance the company's visibility and attract more investors​.

About UMeWorld Limited:

UMeWorld Limited is an integrated edible oil company committed to promoting sustainable and innovative solutions that improve the economic, social, and environmental well-being of its stakeholders. The company is building a vertically integrated business model to become an integral supplier of food, feed, oleochemicals, and renewable fuel across various industries.

For more information, please visit www.umeworld.com or to submit questions that Mr. Lee will address on the call, simply visit our website and drop us a line.

Contact: Michael Lee, CEO
UMeWorld Limited
Email: info@umeworld.com

IR Contact:
Derek C. McCarthy
Email: derekcharlesm@gmail.com

Forward-Looking Statements

This press release may contain forward-looking statements, about UMeWorld's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, UMeWorld or its representatives have made or may make forward-looking statements, orally or in writing.

Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by UMeWorld with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of UMeWorld's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause UMeWorld's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause UMeWorld's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in UMeWorld's filings with the SEC. In addition, UMeWorld operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. UMeWorld does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 20-F and other periodic and current reports filed with the Securities and Exchange Commission.