Expects to Begin Shipping Units to Customers in Q2 – 2019
March 6, 2019, Pompano Beach, FL – Brownie’s Marine Group, Inc. (OTC Pink: BWMG) a leading developer, manufacturer and distributor of highly specialized dive and safety products announced that it had ordered parts necessary to commence the first production run of its breakthrough dive development stage product “NEMO,” which is an ultra-portable, compact, affordable, and easy-to-use dive system. NEMO was engineered to revolutionize the 100-year old sport of snorkeling. The 1-1/4-pound submersible battery pack powers the automatic air delivery system for an average of an hour. Multiple patent applications, both foreign and domestic are in process to potentially protect this industry disrupting technology out into the year 2038 and beyond. The Company formed a subsidiary BLU3, Inc. to develop and market new electric-shallow dive systems that are meant for the recreational diving population, including NEMO.
In November 2018, the Company concluded its Kickstarter campaign, which offered units at attractive pre-buy pricing resulting in 345% of the minimum sales goal, with over 300 units pre-ordered. The Company also displayed the first NEMO prototype at the largest and most important marine industry’s international conference, the Diving Equipment and Marketing Association Conference (“DEMA Show”) held in November 2018 in Las Vegas, NV.
Robert
Carmichael, Brownie’s Chairman and CEO stated, “We are extremely encouraged by
the interest shown to date in the NEMO product and believe it will be an
excellent incremental revenue generator for us. We continue to make minor
modifications and engineering improvements to the product, but I’m pleased to
report that we are on track for our first production run of NEMO in the second
quarter of 2019.”
About Brownie’s Marine Group
Brownie’s Marine Group, Inc. is the parent company to a family of innovative brands with a unique concentration in the industrial, military and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries including Trebor Industries, Inc., founded in 1981 and dba as “Brownie’s Third Lung,” BLU3, Inc., and LW Americas. The Company is headquartered in Pompano Beach, Florida and employs 18 full-time staff. For more information, visit: BrowniesMarineGroup.com.
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the development, production and marketability of our development stage NEMO product. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 as filed with the Securities and Exchange Commission (the “SEC”) and our other periodic and quarterly filings with the SEC.
Contact Diana Giorgetti, (954)-462-5570