UMeWorld Limited (OTCPK:UMEW.F) signed a binding letter of intent to acquire Three Palm Oil Mills for $90 million on May 30, 2023. As part of consideration, UMeWorld will issue convertible preferred equity of $90 million, which is convertible at a floor of $4 per share. UMeWorld is also purchasing with these plants, the leading ESG (Global Environmental and Social Governance) machinery technology for palm oil refinery production.