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NEW YORK, April 30, 2019 (GLOBE NEWSWIRE) -- SoOum Corp (OTCPINK:SOUM), a Physical Commodities Arbitrage Trading and e-Commerce Company, announces it completed negotiations, and secured a US$20,000 contract to export out-of-shell medium-size California almonds to Afghanistan.
Currently, the contract remains indefinite in duration with almond shipments recurring on a monthly basis. The first US$20,000 shipment commences this month, increasing 2-4 containers per delivery until the buyer receives the desired quantity per month. SoOum's business development team meets with the buyer and supplier next week to address further shipments and business possibilities.
Furthermore, SOUM recently completed its first delivery and sale of 100% USDA beef directly to the Island of Malta where it will act as a wholesale distributor of the beef and other meat products. Currently, SOUM’s professional team continues to work to grow the beef distribution network on Malta and in the surrounding regions.
SOUM’s management currently continues to work diligently in completing all its US SEC filings to become a current fully reporting issuer.
SoOum Corp, (SOUM:OTCPINK) an international trading firm, conducts its own in-house, arbitrage and order based transactions of physical commodities, and offers an international trade platform called - SoOum.com - The platform automatically discovers price discrepancies of any given physical commodity in different regions, allowing anyone to easily build a transaction and facilitate trade. The platform provides and aids the professional Arbitrage trader, Importer, Exporter and other international traders to enhance their business by creating a central interface to conduct and negotiate trade in real time. The Company’s Website traffic increased over 400% in the recent months.
Cautionary Note Regarding Forward-Looking Statements in this press release regarding the Company’s business which are not historical facts are “forward-looking statements” that involve some risks and uncertainties. The Company cautions that various factors, including the factors described under the caption forward-looking statements in the Company’s annual report on Form 10-K, could cause actual results to differ materially from the statements contained herein. These factors include the following: business conditions and volatility in the commodities market, and the general economy; competitive factors including compressed gross profit margins; shifts in market demand; product availability; reliance on key customers; fluctuations in foreign currency exchange rates; income tax legislation; and the risk factors listed from time to time in the Company’s reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.