Anderson, South Carolina–(Newsfile Corp. – November 16, 2022) – JZZ Applied sciences Inc. (OTC PINK: JZZI) (“JZZ” or the “Firm”), a diversified firm centered on digital media, biotechnology acquisitions associated to human life extension longevity and energetic way of life actual property growth, has executed a Letter of Intent (LOI) with Oxygen Mortgage and Oxygen Administration LTD LLC. (collectively “Oxygen”) to collectively develop a diversified mortgage and actual property growth firm together with actual property purchases, land bundle and website growth, constructing design and building, financing, and full-service actual property advertising and gross sales providers.
Pursuant to the LOI, JZZ and Oxygen will create a brand new Joint Enterprise (“JV”) within the subsequent 90 days focusing on actual property initiatives in South Carolina initially, after which nationally starting in 2023. The quickly to be named JV has already obtained funding commitments for an preliminary venture beneath contract with JZZ Applied sciences for its first venture to be marketed by Oxygen -a multi-unit complicated close to Clemson College. The overall venture worth will exceed $1 million.
JZZ’s rights within the JV will likely be website analysis and choice, land use entitlement, venture website growth, venture financing together with non-exclusive debt and fairness placement.
Oxygen’s rights within the JV will likely be:
- the appointment of Oxygen because the unique Actual Property gross sales accomplice for all residential properties throughout the nation; concerned within the acquisition, planning, growth, and sale of all residential and industrial properties
- full-Service Property Administration for any portfolio properties for each quick time period leases akin to AirBnB and long-term rental properties akin to single-family properties, condos, townhouses, or bigger house buildings
- Partnership and operation of a full-service affiliated Mortgage Firm able to providing all shoppers an “in home” mortgage possibility on the time of buy. This may even function perpetually to seize refinance and future resell mortgage alternatives.
- a title company three way partnership for land title insurance policies encompassing residential and industrial properties
Charles Cardona, CEO of JZZI, said, “This new Joint Enterprise with Oxygen Mortgage is an amazing alternative for our two corporations. Robert Egeland and his skilled staff behind Oxygen Mortgage will give us the capability to not solely supply and purchase new actual property initiatives, but additionally to deal with your complete course of by way of build-to-suit, gross sales and advertising, together with offering entry to financing choices for shoppers for the initiatives as soon as they’re accomplished. In different phrases, we’re making a turnkey system for growth that ensures high-quality initiatives inside all points of the true property growth cycle in our personal eco-system.”
“This can be a very direct path for us to create a number of income facilities for each of our corporations from all areas of the true property growth chain. Importantly, it should additionally enable us to offer high quality actual property initiatives which can be a mannequin for growth within the communities that we serve,” Cardona added.
JZZ expects to announce additional particulars about this venture within the coming weeks because the JV is absolutely developed and ratified following customary due diligence. JZZ can be actively pursuing comparable profile initiatives, in addition to larger-scale initiatives in South Carolina and Florida.
About Oxygen Mortgage
Based mostly in Boulder, Colorado, Oxygen Mortgage and Oxygen Administration LTD. (oxygenmortgage.internet) present full-service mortgage financing for shoppers together with adjustable and glued fee loans, FHA, VA and jumbo loans, in addition to reverse mortgage financing. Its founder and CEO, Robert Egeland has greater than 30 years of expertise in constructing mortgage financing and title corporations to success on the nationwide degree.
About JZZ Applied sciences, Inc.
JZZ Applied sciences, Inc. is a diversified firm engaged in a number of enterprise sectors. Its Energetic Way of life Digital media enterprise contains on-line media and apps (activelifestylemedia.com), content material creation, and digital advertising focused to energetic adults 55+. Its strategic biotechnology and bioscience associated to Human Life Extension seeks alternatives in high quality of life companies that assist the getting older inhabitants, and its Energetic Way of life Actual Property Growth division is engaged in buying, managing, and working industrial and residential actual property and housing growth initiatives. For extra info, please go to jzztechnologies.com.
JZZ Applied sciences, Inc.
Charles Cardona, CEO
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Sure statements contained herein are “forward-looking” statements (as such time period is outlined within the Personal Securities Litigation Reform Act of 1995). As a result of such statements embrace dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. This press launch could comprise sure forward-looking statements inside the that means of Part 27A of the Securities and Alternate Act of 1933, as amended, and Part 21E of the Securities and Alternate Act of 1934, as amended, and such Ahead-Trying Statements are supposed to be coated by the secure harbors created thereby. Buyers are cautioned that each one forward-looking statements contain dangers and uncertainties. All statements aside from statements of historic reality on this announcement are forward-looking statements, together with however not restricted to the viability of the Firm’s enterprise plans, the impact of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Firm’s merchandise; the Firm’s means to guard its proprietary info; basic financial and enterprise circumstances; and the volatility of the Firm’s working outcomes and monetary situation. These forward-looking statements contain recognized and unknown dangers and uncertainties and are primarily based on present expectations, assumptions, estimates, and projections concerning the Firm and the trade. The Firm undertakes no obligation to replace forward-looking statements to mirror subsequent occurring occasions or circumstances or to modifications in its expectations, besides as could also be required by regulation. Though the Firm believes that the expectations expressed in these forward-looking statements are affordable, administration can’t guarantee the general public that their expectations will turn into appropriate. Buyers are cautioned that precise outcomes could differ materially from the anticipated outcomes.
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