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Posted On: 01/07/2017 3:16:35 AM
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LIG Assets, Inc. $LIGA News
Last updated 01/07/2017 - 0.0018
LIG Assets, Inc. Announces New Board Resolutions, Review of 2016 and Plans for 2017
Jan 05, 2017
OTC Disclosure & News Service
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LIG Assets, Inc. Announces New Board Resolutions, Review of 2016 and Plans for 2017
Cancellation in potential issuance of nearly 2.5 billion shares, freeze on authorized share count, new management, key debt settlement, no reverse split, and dynamic business plan lead turnaround efforts
DALLAS, TX--(Marketwired - Jan 5, 2017) - LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA"
announces it has signed new and revised board resolutions that officially and further recognize many terms that were agreed in a Restructuring Agreement dated June 1, 2016. In addition to these resolutions, LIGA reviews its primary accomplishments in 2016, and provides an outlook for 2017.
New and Revised Board Resolutions signed January 4, 2017:
1. We resolve to reduce the conversion rate of entire 50 million shares of Preferred Stock. The previous conversion rate was one share of Preferred would convert to 50 shares of common stock. Now, the conversion rate will be one share of Preferred stock converts to one share of common stock. The cancellation in potential issuance of nearly 2.5 billion shares now protects the current share structure from massive dilution.
2. We now resolve that each share of Preferred Stock will have one voting share, the same that is set for each share of common stock.
3. We resolve that the total authorized common share count will not increase above the current level of 2.4 billion shares for at least three years or December 31, 2019 unless the common stock share price trades above .05 per share for at least 30 calendar days.
4. We resolve that no reverse split of LIGA common stock will occur before December 31, 2019 unless the common stock trades above .05 per share for at least 30 calendar days.
5. We resolve that no additional classes of any stock preferred or otherwise be issued for at least three years or December 31, 2019.
6. We resolve that any funding of the Company must occur through debt issuances, project based financing, or through the small balance of common stock that has not been issued.
2016 Highlights:
1. In June 2016, LIGA signed a Restructuring Agreement with agreed terms to update financial reporting the OTC Markets, implement management changes, resolve indebtedness, limit share issuances, and restructure the preferred stock.
2. In August 2016, LIGA filed updated financials for 2015 and 2016 so that its status with OTC Markets was upgraded to OTC Pink Current. LIGA is committed to maintain this status and will aim to file audited financials in the future.
3. In October 2016, LIG Assets announced it would rebrand itself as the "Leader in Green Assets" -- also an acronym for its stock symbol "LIGA" -- to better represent the company's current and planned future focus. The Company would focus on the construction of new homes and home upgrades that utilize the most advanced disaster resistant construction materials and design, alternative energy, and sustainable technologies.
4. In November 2016, LIG Assets successfully settled a lawsuit with TCA Global Credit Fund that reduced its outstanding debt by over $750,000 with no dilution to shareholders. Previous management agreed to pay over half of the reduced settled amount leaving LIGA with only $220,000 in debt to be paid over the next two years. This settlement was considered a win-win for all parties and allows LIGA to move forward aggressively on its new business plan.
5. Collaboration with famed environmental pioneer and visionary, Mr. Robert Plarr, to deliver affordable, sustainable homes in select communities throughout the United States. It is further noted that Mr. Plarr maintains a large database of interested parties that wish to purchase homes constructed by LIGA that utilize Plarr approved green technologies and building materials. Listen to 25 minute interview at November 2016 Interview with Mr. Robert Plarr
6. In November 2016, LIGA held its first Sustainability Impact Conference in Nashville, TN where speakers and corporate advisors detailed its technologies, products and vision for the future. A new website was also introduced at www.LeaderInGreenAssets.com.
7. In December 2016, Mr. Aric Simons agreed to become Chairman of the Board. Aric brings extensive real estate experience through construction of numerous development projects. He has also actively practiced law since 1989 specializing in the entertainment and real estate industries.
8. In December, 2016, LIGA signed an Agreement to co-develop its first official property to showcase its brand of sustainable, green, disaster proof homes. Construction of the waterfront property in Panama City Beach, FL will begin in January 2017 with an aggressive completion schedule. LIGA high performance homes are designed to be constructed in a more efficient manner than conventional homes.
2017 Goals and Plans:
1. LIGA aims to deploy state-of-the-art technology and methodologies to bring sustainable housing to a price level that is competitive with traditional construction. Its business plan is to allow the average homeowner the ability to purchase a home in one of its developments that is sustainable; thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that exhibit the highest ratings of moisture, mold and fire resistance and are far less susceptible to aging decay associated with traditional building materials. The Company's designs are not necessarily intended for a niche market, but scalable for mass development.
2. LIGA will begin construction of its first model home on the Panama City Beach property and will serve to demonstrate and incorporate all elements of the Company's innovative construction, design, and technology. LIGA's architectural and design team has produced renderings of many homes that are being used now to secure new development projects.
3. LIGA has a goal to sign Agreements to participate in at least four developments across the nation in 2017 for its brand of homes. In addition, LIGA is entering into strategic partnerships with material suppliers which will enhance net profitability. This will be accomplished by acting as a developer of sustainable communities, homes and "Post-Construct" upgrades for those who want to make their current homes more sustainable.
4. LIGA is actively pursuing and developing projects in at least six states that range from small scale high performance showcase homes like the one in Panama City Beach, to much larger home community developments that involves construction plans of over 1000 homes. LIGA is working with its partners and advisors to value engineer its own brand of energy efficient, high performance homes that are priced and built for developing mass markets.
5. LIGA plans to work closely with Mr. Robert Plarr to offer his large database of interested buyers a home that is truly sustainable and green. LIGA will implement many of Mr. Plarr's most highly recommended and approved technologies and building materials.
6. Through successful implementation of the business plan, we hope to deliver gains to our loyal shareholders that exceed our wildest dreams.
Aric Simons, LIGA Chairman and Corporate Counsel, stated, "The ambitious plans for LIGA in 2016 have already commenced to become a reality in 2017. This year will mark the transformation of LIGA from a development stage company into a profitable revenue generating corporation that will greatly enhance the value of our shareholders equity."
About LIG Assets, Inc.
LIG Assets, Inc. (OTC PINK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at www.OTCMarkets.com.
Contact Information:
Shareholder/Investor inquiries can be directed to:
LIG Assets, Inc.
Charles Gambino
President
Email: Charles@LIGAssets.net
Copyright © 2017 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Signs Agreement to Co-Develop Property in Panama City Beach, Florida to Showcase its Brand of High Performance, Sustainable Homes
Dec 19, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Signs Agreement to Co-Develop Property in Panama City Beach, Florida to Showcase its Brand of High Performance, Sustainable Homes
DALLAS, TX--(Marketwired - Dec 19, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), also known as the "Leader in Green Assets" or "LIGA," today announced it has signed an agreement to co-develop its first official property to showcase its brand of sustainable, green, disaster-resistant homes. Construction of the waterfront property in Panama City Beach, Florida is scheduled to begin in January 2017 with an aggressive completion schedule. LIGA high performance homes are designed to be constructed in a more efficient and cost-effective manner than conventional homes.
LIGA aims to deploy state-of-the-art technology and methodologies to bring sustainable housing to a price level that is competitive with traditional construction. Its business plan is to allow the average homeowner the ability to purchase a home in one of its developments that is sustainable, thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that exhibit the highest ratings of moisture, mold and fire resistance and are far less susceptible to aging decay associated with traditional building materials. The company's designs are not necessarily intended for a niche market but scalable for mass development.
The model home on the Panama City Beach property will serve to demonstrate and incorporate all elements of the company's innovative construction, design, and technology. LIGA also plans to implement "Agrihoods" in this design -- a way for homeowners to grow quality food indoors for personal consumption or sale. LIGA will discuss more about its innovative "Agrihoods" in the first quarter of next year. Once completed, the home will be available for public viewing through open houses and online virtual tours.
Advisory Board member Adam Good stated, "LIGA is actively pursuing and developing, projects that range from small scale high performance showcase homes, like the one in Panama City Beach, to much larger home community developments that involve construction plans of over 1,000 homes. LIGA is working with its partners and advisors to value engineer its own brand of energy efficient, high performance homes that are priced and built for developing mass markets."
Aric Simons, LIGA Chairman and Corporate Counsel, stated, "We believe Panama City Beach is an ideal location to showcase our homes. It is common to homes in this area to experience mold and weather decay or even complete destruction due to hurricanes. We are confident that our homeowners will have a mold and moisture resistant home that will not only save significantly on water and power, but also withstand the brunt force of a natural disaster."
Mr. Simons plans to personally visit with co-developers of the Panama City Beach project from Tuesday, December 20 to Thursday, December 22. He will also visit other properties in the area that might be suitable for future developments.
LIGA President Charles Gambino concluded, "We are pleased to report that, yet again, we managed to enter another agreement without the need to issue stock of any kind. We remain committed to our goal to significantly enhance shareholder value without dilution to our shareholders."
About LIG Assets, Inc.
LIG Assets, Inc. (OTC PINK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Agrees to Settlement that Significantly Reduces Debt with No Dilution to Shareholders
Nov 22, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Agrees to Settlement that Significantly Reduces Debt with No Dilution to Shareholders
Settlement with TCA Global Credit Master Fund settles debt incurred by previous management over 3 years ago
DALLAS, TX--(Marketwired - Nov 22, 2016) - LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA", focused on residential and commercial real estate acquisition and development, today announced that it has entered into an agreement with TCA Global Credit Master Fund ("TCA Global" to settle the significant majority of the company's current outstanding debt.
The settlement agreement reduces the outstanding debt to TCA Global by approximately 75% and essentially allows LIG Assets to begin its new business ventures with a fresh start and build assets from this point unencumbered by liens or the potential of ever-increasing debt owed to this lender. Additionally, LIGA shareholders are expected to see no dilution through this settlement.
Terms of the settlement allow LIGA to engage in revenue generating activity for almost 6 months before commencement of monthly payments to pay off the settlement amount. Payments to TCA Global are anticipated to be generated from multiple new business ventures and revenue streams.
Over three years ago, previous LIG Assets management borrowed $500,000 from TCA Global. The debt subsequently accrued interest and penalties that ballooned to over $1 million. It is noted that TCA Global did receive some payments against the original loan.
TCA Global was by far LIG Assets, Inc.'s largest creditor, and all other creditors or claims against LIG Assets have been settled, are in the process of being settled, or management believes can be settled amicably.
Aric Simons, Chief Legal Counsel for LIG Assets, was instrumental in negotiation of the amicable settlement with TCA Global and their representation. Mr. Simons stated, "We are pleased to come to an agreement that benefits all parties, and appreciate everyone related to TCA Global for working with us on a fair settlement."
Previous management of LIG Assets, Inc. will be responsible for paying over half of the reduced negotiated settlement over a two-year time frame. Again, no dilution to LIGA stock occurred or is expected to occur from this Settlement Agreement, and no payment in cash or stock was made to previous management for this commitment. As long as LIG Assets abides by the terms of the agreement, it owes TCA Global only a remaining $220,000 over the next two years for its portion of the settlement.
LIGA President Charles Gambino added, "This settlement is a win-win for all parties, in particular the shareholders of LIG Assets. Now, we can focus on the incredible opportunities presented at the recent Sustainability Impact Conference hosted by LIGA at The Nashville Entrepreneur Center in downtown Nashville."
About LIG Assets, Inc.
LIG Assets, Inc., which trades on the over-the-counter market under the ticker symbol "LIGA," is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Rebranding as Leader in Green Assets
Oct 19, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Announces Rebranding as Leader in Green Assets
New strategy will be launched at "Sustainability IMPACT Conference" featuring Sustainable Living Technologies at the Nashville Entrepreneur Center
DALLAS, TX--(Marketwired - Oct 19, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), focused on residential and commercial real estate acquisition and development, today announced that the company is rebranding itself as the "Leader in Green Assets" -- also an acronym for its stock symbol "LIGA" -- to better represent the company's current and planned future focus. The company plans to focus on the construction of new homes and home upgrades that utilize the most advanced disaster resistant construction materials and design, alternative energy, and sustainable technologies.
As part of its efforts to launch its strategy, engage with joint venture partners, and move slated projects forward, an "open house" conference is scheduled on Monday, November 14, 2016 from 11:00 am to 3:00 pm CST at the Nashville Entrepreneur Center (EC).
LIGA management, its partners, and speakers at the conference are particularly interested in addressing the timely issue of limiting damage created by natural disasters such as hurricanes and tornados.
Not only does the company want to bring to market the most innovative and advanced green technology for home building, but it also intends to introduce design and materials that can withstand high winds and flooding.
Hurricane Matthew and the subsequent flooding caused significant devastation to states up and down the Eastern seaboard. Among its list of innovative designs, LIGA plans to unveil and implement building plans that utilize materials that are 100% mold resistant and windows that can withstand wind up to 250 miles per hour.
The conference is considered an "open house" as it is open at no cost to anyone who wants to attend. Interested attendees are asked to email their name, address, and enter your information at www.LeaderInGreenAssets.com.
Special invitations are being sent to EcoBroker Certified® professionals, lending representatives, and a variety of industry representatives. Additionally, LIGA would like to welcome its shareholders to the event, and several members of the management team and advisors will attend.
The goal of LIGA, its partners, and guest speakers is to present the company's plan for the future of housing. Together with its partners, the company plans to change the way homes are built forever. The event will include prominent guest speakers before and after a catered lunch. The event's keynote speaker will present and demonstrate, "The most unbelievable technology you have ever seen." Another speaker will discuss the future of sustainable living and provide an overview of building techniques, high technology for the home, and advanced materials. Another speaker will present "New Energy World - The Future of Sustainability."
LIG Assets President Charles Gambino stated, "The Nashville Entrepreneur Center is an ideal venue and location for this event for many reasons. One, we have identified Nashville as one of several cities to build model homes and developments utilizing our building techniques. Two, the location serves as a central base logistically to many of our partners, suppliers, and contacts. Three, it is widely accepted that the greater Nashville region is poised to grow by leaps and bounds over the next couple of decades. Finally, the Nashville EC itself has recently held a successful event that focused on a successful new concept in building homes."
About the Nashville Entrepreneur Center
The Entrepreneur Center (EC) became the front door for entrepreneurs aspiring to create companies in Nashville with the opening of its flagship facility at 105 Broadway in August of 2010. In June of 2013, the EC moved to its current location in one of the many Trolley Barns on Rolling Mill Hill.
Originally a vision of the Partnership 2010 initiatives of the Nashville Chamber of Commerce, the EC began in 2007 with the mission of raising the quality of resources available to Nashville's entrepreneurial and small business communities. The EC represents a partnership of local and state government support, private interests and the Nashville business community at-large. Please visit www.EC.co for more information.
About LIG Assets, Inc.
LIG Assets, Inc. is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via acquisitions, mergers and joint venture partnerships. The company trades on the over-the-counter under the ticker symbol "LIGA." For additional information, please sign up for the company's free shareholder newsletter created to keep shareholders and the investment community updated about the company's current and future development. A new corporate website is expected to be launched in the very near future.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Shareholder Communication Initiative
Oct 14, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Announces Shareholder Communication Initiative
Program Will Feature New Website, Shareholder Mailing List, Investor Newsletters, and Professional Agency Representation
DALLAS, TX--(Marketwired - Oct 14, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), focused on residential and commercial real estate acquisition and development, today announced an expanded, multichannel public market communication initiative designed to increase transparency and keep the company's stockholders fully informed about current operations and future plans. The initiative includes the launch of a new corporate website -- expected to go live next week; monthly investor newsletters that will review recent developments and provide a closer look inside the company; frequent management interviews posted to the company website; active social media accounts; and professional management of shareholder communication channels, including email and telephone contacts staffed 9:00 am to 7:00 pm Eastern every business day.
"In the wake of the appointment of a new management team and the upgrade to 'Current Information' on the OTC Markets, we are now ready to begin unveiling our current and future plans to the investment community," said Charles Gambino, President of LIG Assets, Inc. "We believe this information will be highly compelling, and we want to ensure that our shareholders and potential investors are able to ask questions, provide comments and otherwise give and receive feedback as our ambitious business strategy is implemented."
LIG Assets' shareholder communication program will be managed by Advance PR Group, a professional communications firm with extensive experience representing emerging public companies. Advance PR Group will field incoming calls and email from shareholders, potential investors, financial media and others, while also helping to develop and distribute the information, including press releases, monthly newsletters, website and social media content, publicly disclosed by the company.
"Given our commitment to transparency and providing timely information, it was important to management that we retain an experienced public company communications firm," added Mr. Gambino. "We believe that our shareholders deserve our best efforts and we hope they will avail themselves of all our information channels."
To reach Investor Relations, shareholders should call 619-202-7456. Any messages left will be returned within 24 hours. Messages left on weekend and holidays will be returned on the next business day.
Once the new website is launched, a dedicated Investor Relations email address will be provided. The website will also include investor communication features including mailing list sign-up fields, pages with recent news and announcements, and links to financial filings and additional market data.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Contact:
Andrew Beyer
Advance PR Group
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Option to Acquire Lease and Drilling Interest in Permian Basin Property
Oct 09, 2014
OTC Disclosure & News Service
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DALLAS, Oct. 9, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) today announced that its wholly owned subsidiary, CP Resources, LLC, has executed an option to acquire lease interest and drilling interest in 400 acres in leases located in the Permian Basin.
Wells are planned for the lease and are intended to go down to a depth of approximately 8000 to 9000 feet and would be expected to encounter potential hydrocarbon bearing formations in the Cambrian, Canyon, and Strawn Formations. These zones have past initial production (IP) rates in the Permian basin of up to 200 BOPD to 800 BOPD, which could lead to very significant revenue and cash flow from the lease. 3-D and other technologies have been utilized to further define the potential of the lease.
CP Resources, LLC and West Coast Partners, LLC become wholly owned subsidiaries of LIG Assets, Inc. through a merger transaction announced on September 4, 2014. The primary focus of the merged entity will be to develop its current portfolio of leases for oil and gas reserves on over 36,000 acres in Nevada and Texas and additional leases as identified.
LIG Assets, Inc. recently announced an initial agreement with a potential funding partner under which the Company would receive up to $10 million in financing for drilling on its oil lease in Nevada. The Company expects to provide an update on the Nevada lease in the coming days.
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 1850
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Initial Agreement to Finance a Drilling Program on the Company's Nevada Oil Lease
Sep 18, 2014
OTC Disclosure & News Service
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DALLAS, Sept. 18, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) today announced an initial agreement in the form of a Letter of Intent with a potential funding partner under which the Company would receive financing for drilling on its 36,000 acre oil lease in Nevada. Geological reports for the area suggest the potential for massive oil reserves, although reserves on the property have not yet been proven.
Under terms of the agreement, the financing partner would provide up to $10 million to complete each well on the Nevada oil lease. Based on the success of the initial two wells, the agreement calls for the financing partner to provide additional capital for 3 wells to be drilled every 60 days on the property. If the Company hits two dry holes, the partner has the option to cancel the financing agreement.
The execution of the Letter of Intent triggered a period of due diligence, which will include inspection of the property by the potential financing partner. Assuming the due diligence results are acceptable to both parties, a Definitive Agreement is expected to be executed within the next 30 days, at which time additional details of the financing are expected to be disclosed.
"We are pleased to announce this letter of intent for a drilling program on our Nevada property, especially since the structure of the anticipated financing would be non-dilutive to holders of the Company's common stock," said Dennis Hopkins, president of LIG Assets, Inc. "Our targeted financing partner is planning on joining us on a visit to the proposed drilling site in early October after which we hope to move forward to a Definitive Agreement as soon as possible."
LIG Assets, Inc., holds the Nevada property through its recent merger with West Coast Partners, LLC and CP Resources, LLC. After drilling on the property has commenced, the Company also intends to begin the process of proving up the reserves.
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Signs Definitive Agreement to Merge With West Coast Partners, LLC and CP Resources, LLC to Focus on Oil & Gas Exploration and Production
Sep 04, 2014
OTC Disclosure & News Service
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DALLAS, Sept. 4, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) is pleased to announce that it has officially merged with West Coast Partners, LLC and CP Resources, LLC effective September 02, 2014. West Coast Partners and CP Resources will become wholly owned subsidiaries of LIG Assets, Inc., and it is estimated that they bring added revenue of over $1 million a quarter. The primary focus of the merged entity will be to develop its current portfolio of leases for oil and gas reserves on over 36,000 acres in Nevada and Texas. LIG Assets will maintain its commercial and residential real estate operations, but may consider a spin-off or sale of these assets in the future.
West Coast Partners and CP Resources are also based in Dallas, TX and now in the process of moving its office staff to LIG Assets' currently underutilized high rise office space in downtown Dallas, and will complete its move over the next 60 days. Jeff Love, former CEO of LIG Assets, will maintain a board seat and the new position of Chief Operating Officer with the merged entity. Dennis Hopkins, a seasoned veteran with over 40 years of experience in the oil and gas industry, has been named President. Anthony Feezel has also been named a Director. Additional details of its large probable reserves, management's history, and additional merger details will be announced soon.
Finally, it is noted that management of the merged entity has no current plans to execute a reverse split of LIGA. However, the Company has plans to trade on a more senior exchange in the future with audited financials that may require restructuring at some point. Management of the entire merged entity is focused on greatly improving shareholder value, and firmly believes it will deliver.
Jeff Love, COO of LIG Assets, stated, "We recognized the need to do something significant to benefit our shareholders." He continued, "Through our merger with a Company with revenue, assets, huge potential, and a capable management team under one roof, we believe we can more effectively operate our real estate division while adding the huge potential that the oil business offers."
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Issues Corporate Updates
Aug 14, 2014
OTC Disclosure & News Service
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DALLAS, Aug. 14, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA), a Company focused on residential and commercial real estate, announces it has successfully acquired several more foreclosure and short sale properties over the past six months, upgraded the homes, and have turned a profit through resale or owner financed rental. LIGA has multiple properties that are currently on the market or are nearing completion. The total purchase price of homes so far in 2014 has totaled over $1.5 million. In addition to an improving market for its residential unit, LIG Assets is making progress on the commercial side through its new relationship with GTM Hospitality. Recently it was announced that GTM and LIGA successfully purchased the Wyndham Baton Rouge Hotel for just over $5 million, and the partners plan to continue its push in the hospitality space where it sees value. LIGA has already sold its interest in the Baton Rouge Hotel to generate cash for new deals.
"LIG Assets has several advantages over most television and standard fix and flip artists. The Company and its management have been based in the Dallas / Ft. Worth market for many years. LIG Assets has established multiple long term relationships with trustworthy, seasoned contractors, construction firms, agents, and sourcing brokers. Since LIG Assets is actively fixing multiple properties simultaneously, it can take advantage of bulk pricing and utilize nearly all its sourced construction materials," said Jeff Love, CEO of Lig assets. "We have also been able to retire a portion of company debt over the last quarter, which will be reflected on our upcoming financials," he added.
LIGA reports that it has certainly helped that the Dallas-area home price is up by 10.4% in the latest residential value report by Core Logic Inc. The Dallas increase compared median home prices in April 2014 with April 2013 data. Dallas was among eight major U.S. cities that were reported to have double digit percentage price gains. "Home prices are continuing to rise as we head into the summer months," said Anand Nallathambi, president and CEO of Core Logic. "The purchase market continues to suffer from a dearth of inventory which we expect will continue to drive prices up over the year."
LIG Assets is interested in investors who might want to partner on specific fix and flip projects. The Company suggests interested parties contact Richard@ligassetsinc.net for more information
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through its alliances with hedge funds, mortgage brokers, and hard money lenders, LIG Assets plans to expand its residential portfolio and increase commercial property transactions. LIG Assets, Inc. currently trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net or Jeff@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Phone: 214-760-1000
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets and GTM Hospitality Identify More Properties to Acquire Utilizing Their Recipe for Success
May 22, 2014
OTC Disclosure & News Service
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DALLAS, May 22, 2014 (GLOBE NEWSWIRE) -- Following the recent closing of the Wyndham Baton Rouge Hotel, GTM Hospitality, LLC and LIG Assets, Inc. (OTCPK:LIGA) are continuing their aggressive push in the hospitality space. With several properties lined up, the companies believe they now have a recipe for sustainable and profitable growth.
"It's not growth for the sake of growth," said Marty McDaniel, CHA, President and CEO of GTM Hospitality. "It's managed growth with the acquisition of properties that will cash flow right away." Jeff Love, CEO of LIG Assets agrees, "When you step back and look at the combined skill sets between the two companies, GTM with its operational experience and LIG with its finance and real estate experience, we are truly excited about the opportunity."
The two companies started strategy discussions some six months ago and have closely analyzed dozens of deals resulting in a polished pipeline. "As a second generation hotelier, I have been around every type of hospitality asset known and I can say that we have some exciting properties we are working on," McDaniel said. For Love, he is ready to leverage LIG's talents as well and added. "At LIG, we have been looking for a solid, profitable growth engine, and now we have found it."
About GTM Hospitality, LLC
GTM Hospitality, LLC is a fully integrated, full service Management and Development Company with an expanding portfolio of owned and managed properties based in Panama City, Florida. The Company is led by long time hotelier, Marty McDaniel, CHA who is President and CEO.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through its alliances with hedge funds, mortgage brokers, and hard money lenders, LIG Assets plans to expand its residential portfolio and increase commercial property transactions. LIG Assets, Inc. currently trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
CONTACT: Media Inquiries:
Marty McDaniel, CHA
President and CEO
GTM Hospitality, LLC
Marty.McDaniel@GTMHospitality.BIZ
www.GTMHospitality.BIZ
850-269-7235
Jeff Love
President and CEO
LIG Assets, Inc.
Jeff@LIGAssetsinc.net
214-760-1000
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Last updated 01/07/2017 - 0.0018
LIG Assets, Inc. Announces New Board Resolutions, Review of 2016 and Plans for 2017
Jan 05, 2017
OTC Disclosure & News Service
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LIG Assets, Inc. Announces New Board Resolutions, Review of 2016 and Plans for 2017
Cancellation in potential issuance of nearly 2.5 billion shares, freeze on authorized share count, new management, key debt settlement, no reverse split, and dynamic business plan lead turnaround efforts
DALLAS, TX--(Marketwired - Jan 5, 2017) - LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA"
announces it has signed new and revised board resolutions that officially and further recognize many terms that were agreed in a Restructuring Agreement dated June 1, 2016. In addition to these resolutions, LIGA reviews its primary accomplishments in 2016, and provides an outlook for 2017. New and Revised Board Resolutions signed January 4, 2017:
1. We resolve to reduce the conversion rate of entire 50 million shares of Preferred Stock. The previous conversion rate was one share of Preferred would convert to 50 shares of common stock. Now, the conversion rate will be one share of Preferred stock converts to one share of common stock. The cancellation in potential issuance of nearly 2.5 billion shares now protects the current share structure from massive dilution.
2. We now resolve that each share of Preferred Stock will have one voting share, the same that is set for each share of common stock.
3. We resolve that the total authorized common share count will not increase above the current level of 2.4 billion shares for at least three years or December 31, 2019 unless the common stock share price trades above .05 per share for at least 30 calendar days.
4. We resolve that no reverse split of LIGA common stock will occur before December 31, 2019 unless the common stock trades above .05 per share for at least 30 calendar days.
5. We resolve that no additional classes of any stock preferred or otherwise be issued for at least three years or December 31, 2019.
6. We resolve that any funding of the Company must occur through debt issuances, project based financing, or through the small balance of common stock that has not been issued.
2016 Highlights:
1. In June 2016, LIGA signed a Restructuring Agreement with agreed terms to update financial reporting the OTC Markets, implement management changes, resolve indebtedness, limit share issuances, and restructure the preferred stock.
2. In August 2016, LIGA filed updated financials for 2015 and 2016 so that its status with OTC Markets was upgraded to OTC Pink Current. LIGA is committed to maintain this status and will aim to file audited financials in the future.
3. In October 2016, LIG Assets announced it would rebrand itself as the "Leader in Green Assets" -- also an acronym for its stock symbol "LIGA" -- to better represent the company's current and planned future focus. The Company would focus on the construction of new homes and home upgrades that utilize the most advanced disaster resistant construction materials and design, alternative energy, and sustainable technologies.
4. In November 2016, LIG Assets successfully settled a lawsuit with TCA Global Credit Fund that reduced its outstanding debt by over $750,000 with no dilution to shareholders. Previous management agreed to pay over half of the reduced settled amount leaving LIGA with only $220,000 in debt to be paid over the next two years. This settlement was considered a win-win for all parties and allows LIGA to move forward aggressively on its new business plan.
5. Collaboration with famed environmental pioneer and visionary, Mr. Robert Plarr, to deliver affordable, sustainable homes in select communities throughout the United States. It is further noted that Mr. Plarr maintains a large database of interested parties that wish to purchase homes constructed by LIGA that utilize Plarr approved green technologies and building materials. Listen to 25 minute interview at November 2016 Interview with Mr. Robert Plarr
6. In November 2016, LIGA held its first Sustainability Impact Conference in Nashville, TN where speakers and corporate advisors detailed its technologies, products and vision for the future. A new website was also introduced at www.LeaderInGreenAssets.com.
7. In December 2016, Mr. Aric Simons agreed to become Chairman of the Board. Aric brings extensive real estate experience through construction of numerous development projects. He has also actively practiced law since 1989 specializing in the entertainment and real estate industries.
8. In December, 2016, LIGA signed an Agreement to co-develop its first official property to showcase its brand of sustainable, green, disaster proof homes. Construction of the waterfront property in Panama City Beach, FL will begin in January 2017 with an aggressive completion schedule. LIGA high performance homes are designed to be constructed in a more efficient manner than conventional homes.
2017 Goals and Plans:
1. LIGA aims to deploy state-of-the-art technology and methodologies to bring sustainable housing to a price level that is competitive with traditional construction. Its business plan is to allow the average homeowner the ability to purchase a home in one of its developments that is sustainable; thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that exhibit the highest ratings of moisture, mold and fire resistance and are far less susceptible to aging decay associated with traditional building materials. The Company's designs are not necessarily intended for a niche market, but scalable for mass development.
2. LIGA will begin construction of its first model home on the Panama City Beach property and will serve to demonstrate and incorporate all elements of the Company's innovative construction, design, and technology. LIGA's architectural and design team has produced renderings of many homes that are being used now to secure new development projects.
3. LIGA has a goal to sign Agreements to participate in at least four developments across the nation in 2017 for its brand of homes. In addition, LIGA is entering into strategic partnerships with material suppliers which will enhance net profitability. This will be accomplished by acting as a developer of sustainable communities, homes and "Post-Construct" upgrades for those who want to make their current homes more sustainable.
4. LIGA is actively pursuing and developing projects in at least six states that range from small scale high performance showcase homes like the one in Panama City Beach, to much larger home community developments that involves construction plans of over 1000 homes. LIGA is working with its partners and advisors to value engineer its own brand of energy efficient, high performance homes that are priced and built for developing mass markets.
5. LIGA plans to work closely with Mr. Robert Plarr to offer his large database of interested buyers a home that is truly sustainable and green. LIGA will implement many of Mr. Plarr's most highly recommended and approved technologies and building materials.
6. Through successful implementation of the business plan, we hope to deliver gains to our loyal shareholders that exceed our wildest dreams.
Aric Simons, LIGA Chairman and Corporate Counsel, stated, "The ambitious plans for LIGA in 2016 have already commenced to become a reality in 2017. This year will mark the transformation of LIGA from a development stage company into a profitable revenue generating corporation that will greatly enhance the value of our shareholders equity."
About LIG Assets, Inc.
LIG Assets, Inc. (OTC PINK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at www.OTCMarkets.com.
Contact Information:
Shareholder/Investor inquiries can be directed to:
LIG Assets, Inc.
Charles Gambino
President
Email: Charles@LIGAssets.net
Copyright © 2017 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Signs Agreement to Co-Develop Property in Panama City Beach, Florida to Showcase its Brand of High Performance, Sustainable Homes
Dec 19, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Signs Agreement to Co-Develop Property in Panama City Beach, Florida to Showcase its Brand of High Performance, Sustainable Homes
DALLAS, TX--(Marketwired - Dec 19, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), also known as the "Leader in Green Assets" or "LIGA," today announced it has signed an agreement to co-develop its first official property to showcase its brand of sustainable, green, disaster-resistant homes. Construction of the waterfront property in Panama City Beach, Florida is scheduled to begin in January 2017 with an aggressive completion schedule. LIGA high performance homes are designed to be constructed in a more efficient and cost-effective manner than conventional homes.
LIGA aims to deploy state-of-the-art technology and methodologies to bring sustainable housing to a price level that is competitive with traditional construction. Its business plan is to allow the average homeowner the ability to purchase a home in one of its developments that is sustainable, thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that exhibit the highest ratings of moisture, mold and fire resistance and are far less susceptible to aging decay associated with traditional building materials. The company's designs are not necessarily intended for a niche market but scalable for mass development.
The model home on the Panama City Beach property will serve to demonstrate and incorporate all elements of the company's innovative construction, design, and technology. LIGA also plans to implement "Agrihoods" in this design -- a way for homeowners to grow quality food indoors for personal consumption or sale. LIGA will discuss more about its innovative "Agrihoods" in the first quarter of next year. Once completed, the home will be available for public viewing through open houses and online virtual tours.
Advisory Board member Adam Good stated, "LIGA is actively pursuing and developing, projects that range from small scale high performance showcase homes, like the one in Panama City Beach, to much larger home community developments that involve construction plans of over 1,000 homes. LIGA is working with its partners and advisors to value engineer its own brand of energy efficient, high performance homes that are priced and built for developing mass markets."
Aric Simons, LIGA Chairman and Corporate Counsel, stated, "We believe Panama City Beach is an ideal location to showcase our homes. It is common to homes in this area to experience mold and weather decay or even complete destruction due to hurricanes. We are confident that our homeowners will have a mold and moisture resistant home that will not only save significantly on water and power, but also withstand the brunt force of a natural disaster."
Mr. Simons plans to personally visit with co-developers of the Panama City Beach project from Tuesday, December 20 to Thursday, December 22. He will also visit other properties in the area that might be suitable for future developments.
LIGA President Charles Gambino concluded, "We are pleased to report that, yet again, we managed to enter another agreement without the need to issue stock of any kind. We remain committed to our goal to significantly enhance shareholder value without dilution to our shareholders."
About LIG Assets, Inc.
LIG Assets, Inc. (OTC PINK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Agrees to Settlement that Significantly Reduces Debt with No Dilution to Shareholders
Nov 22, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Agrees to Settlement that Significantly Reduces Debt with No Dilution to Shareholders
Settlement with TCA Global Credit Master Fund settles debt incurred by previous management over 3 years ago
DALLAS, TX--(Marketwired - Nov 22, 2016) - LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA"
, focused on residential and commercial real estate acquisition and development, today announced that it has entered into an agreement with TCA Global Credit Master Fund ("TCA Global" to settle the significant majority of the company's current outstanding debt. The settlement agreement reduces the outstanding debt to TCA Global by approximately 75% and essentially allows LIG Assets to begin its new business ventures with a fresh start and build assets from this point unencumbered by liens or the potential of ever-increasing debt owed to this lender. Additionally, LIGA shareholders are expected to see no dilution through this settlement.
Terms of the settlement allow LIGA to engage in revenue generating activity for almost 6 months before commencement of monthly payments to pay off the settlement amount. Payments to TCA Global are anticipated to be generated from multiple new business ventures and revenue streams.
Over three years ago, previous LIG Assets management borrowed $500,000 from TCA Global. The debt subsequently accrued interest and penalties that ballooned to over $1 million. It is noted that TCA Global did receive some payments against the original loan.
TCA Global was by far LIG Assets, Inc.'s largest creditor, and all other creditors or claims against LIG Assets have been settled, are in the process of being settled, or management believes can be settled amicably.
Aric Simons, Chief Legal Counsel for LIG Assets, was instrumental in negotiation of the amicable settlement with TCA Global and their representation. Mr. Simons stated, "We are pleased to come to an agreement that benefits all parties, and appreciate everyone related to TCA Global for working with us on a fair settlement."
Previous management of LIG Assets, Inc. will be responsible for paying over half of the reduced negotiated settlement over a two-year time frame. Again, no dilution to LIGA stock occurred or is expected to occur from this Settlement Agreement, and no payment in cash or stock was made to previous management for this commitment. As long as LIG Assets abides by the terms of the agreement, it owes TCA Global only a remaining $220,000 over the next two years for its portion of the settlement.
LIGA President Charles Gambino added, "This settlement is a win-win for all parties, in particular the shareholders of LIG Assets. Now, we can focus on the incredible opportunities presented at the recent Sustainability Impact Conference hosted by LIGA at The Nashville Entrepreneur Center in downtown Nashville."
About LIG Assets, Inc.
LIG Assets, Inc., which trades on the over-the-counter market under the ticker symbol "LIGA," is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Rebranding as Leader in Green Assets
Oct 19, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Announces Rebranding as Leader in Green Assets
New strategy will be launched at "Sustainability IMPACT Conference" featuring Sustainable Living Technologies at the Nashville Entrepreneur Center
DALLAS, TX--(Marketwired - Oct 19, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), focused on residential and commercial real estate acquisition and development, today announced that the company is rebranding itself as the "Leader in Green Assets" -- also an acronym for its stock symbol "LIGA" -- to better represent the company's current and planned future focus. The company plans to focus on the construction of new homes and home upgrades that utilize the most advanced disaster resistant construction materials and design, alternative energy, and sustainable technologies.
As part of its efforts to launch its strategy, engage with joint venture partners, and move slated projects forward, an "open house" conference is scheduled on Monday, November 14, 2016 from 11:00 am to 3:00 pm CST at the Nashville Entrepreneur Center (EC).
LIGA management, its partners, and speakers at the conference are particularly interested in addressing the timely issue of limiting damage created by natural disasters such as hurricanes and tornados.
Not only does the company want to bring to market the most innovative and advanced green technology for home building, but it also intends to introduce design and materials that can withstand high winds and flooding.
Hurricane Matthew and the subsequent flooding caused significant devastation to states up and down the Eastern seaboard. Among its list of innovative designs, LIGA plans to unveil and implement building plans that utilize materials that are 100% mold resistant and windows that can withstand wind up to 250 miles per hour.
The conference is considered an "open house" as it is open at no cost to anyone who wants to attend. Interested attendees are asked to email their name, address, and enter your information at www.LeaderInGreenAssets.com.
Special invitations are being sent to EcoBroker Certified® professionals, lending representatives, and a variety of industry representatives. Additionally, LIGA would like to welcome its shareholders to the event, and several members of the management team and advisors will attend.
The goal of LIGA, its partners, and guest speakers is to present the company's plan for the future of housing. Together with its partners, the company plans to change the way homes are built forever. The event will include prominent guest speakers before and after a catered lunch. The event's keynote speaker will present and demonstrate, "The most unbelievable technology you have ever seen." Another speaker will discuss the future of sustainable living and provide an overview of building techniques, high technology for the home, and advanced materials. Another speaker will present "New Energy World - The Future of Sustainability."
LIG Assets President Charles Gambino stated, "The Nashville Entrepreneur Center is an ideal venue and location for this event for many reasons. One, we have identified Nashville as one of several cities to build model homes and developments utilizing our building techniques. Two, the location serves as a central base logistically to many of our partners, suppliers, and contacts. Three, it is widely accepted that the greater Nashville region is poised to grow by leaps and bounds over the next couple of decades. Finally, the Nashville EC itself has recently held a successful event that focused on a successful new concept in building homes."
About the Nashville Entrepreneur Center
The Entrepreneur Center (EC) became the front door for entrepreneurs aspiring to create companies in Nashville with the opening of its flagship facility at 105 Broadway in August of 2010. In June of 2013, the EC moved to its current location in one of the many Trolley Barns on Rolling Mill Hill.
Originally a vision of the Partnership 2010 initiatives of the Nashville Chamber of Commerce, the EC began in 2007 with the mission of raising the quality of resources available to Nashville's entrepreneurial and small business communities. The EC represents a partnership of local and state government support, private interests and the Nashville business community at-large. Please visit www.EC.co for more information.
About LIG Assets, Inc.
LIG Assets, Inc. is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via acquisitions, mergers and joint venture partnerships. The company trades on the over-the-counter under the ticker symbol "LIGA." For additional information, please sign up for the company's free shareholder newsletter created to keep shareholders and the investment community updated about the company's current and future development. A new corporate website is expected to be launched in the very near future.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Andrew Beyer
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Shareholder Communication Initiative
Oct 14, 2016
OTC Disclosure & News Service
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LIG Assets, Inc. Announces Shareholder Communication Initiative
Program Will Feature New Website, Shareholder Mailing List, Investor Newsletters, and Professional Agency Representation
DALLAS, TX--(Marketwired - Oct 14, 2016) - LIG Assets, Inc. (OTC PINK: LIGA), focused on residential and commercial real estate acquisition and development, today announced an expanded, multichannel public market communication initiative designed to increase transparency and keep the company's stockholders fully informed about current operations and future plans. The initiative includes the launch of a new corporate website -- expected to go live next week; monthly investor newsletters that will review recent developments and provide a closer look inside the company; frequent management interviews posted to the company website; active social media accounts; and professional management of shareholder communication channels, including email and telephone contacts staffed 9:00 am to 7:00 pm Eastern every business day.
"In the wake of the appointment of a new management team and the upgrade to 'Current Information' on the OTC Markets, we are now ready to begin unveiling our current and future plans to the investment community," said Charles Gambino, President of LIG Assets, Inc. "We believe this information will be highly compelling, and we want to ensure that our shareholders and potential investors are able to ask questions, provide comments and otherwise give and receive feedback as our ambitious business strategy is implemented."
LIG Assets' shareholder communication program will be managed by Advance PR Group, a professional communications firm with extensive experience representing emerging public companies. Advance PR Group will field incoming calls and email from shareholders, potential investors, financial media and others, while also helping to develop and distribute the information, including press releases, monthly newsletters, website and social media content, publicly disclosed by the company.
"Given our commitment to transparency and providing timely information, it was important to management that we retain an experienced public company communications firm," added Mr. Gambino. "We believe that our shareholders deserve our best efforts and we hope they will avail themselves of all our information channels."
To reach Investor Relations, shareholders should call 619-202-7456. Any messages left will be returned within 24 hours. Messages left on weekend and holidays will be returned on the next business day.
Once the new website is launched, a dedicated Investor Relations email address will be provided. The website will also include investor communication features including mailing list sign-up fields, pages with recent news and announcements, and links to financial filings and additional market data.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
Contact:
Andrew Beyer
Advance PR Group
619-202-7456
info@advanceprgroup.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Option to Acquire Lease and Drilling Interest in Permian Basin Property
Oct 09, 2014
OTC Disclosure & News Service
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DALLAS, Oct. 9, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) today announced that its wholly owned subsidiary, CP Resources, LLC, has executed an option to acquire lease interest and drilling interest in 400 acres in leases located in the Permian Basin.
Wells are planned for the lease and are intended to go down to a depth of approximately 8000 to 9000 feet and would be expected to encounter potential hydrocarbon bearing formations in the Cambrian, Canyon, and Strawn Formations. These zones have past initial production (IP) rates in the Permian basin of up to 200 BOPD to 800 BOPD, which could lead to very significant revenue and cash flow from the lease. 3-D and other technologies have been utilized to further define the potential of the lease.
CP Resources, LLC and West Coast Partners, LLC become wholly owned subsidiaries of LIG Assets, Inc. through a merger transaction announced on September 4, 2014. The primary focus of the merged entity will be to develop its current portfolio of leases for oil and gas reserves on over 36,000 acres in Nevada and Texas and additional leases as identified.
LIG Assets, Inc. recently announced an initial agreement with a potential funding partner under which the Company would receive up to $10 million in financing for drilling on its oil lease in Nevada. The Company expects to provide an update on the Nevada lease in the coming days.
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 1850
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Announces Initial Agreement to Finance a Drilling Program on the Company's Nevada Oil Lease
Sep 18, 2014
OTC Disclosure & News Service
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DALLAS, Sept. 18, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) today announced an initial agreement in the form of a Letter of Intent with a potential funding partner under which the Company would receive financing for drilling on its 36,000 acre oil lease in Nevada. Geological reports for the area suggest the potential for massive oil reserves, although reserves on the property have not yet been proven.
Under terms of the agreement, the financing partner would provide up to $10 million to complete each well on the Nevada oil lease. Based on the success of the initial two wells, the agreement calls for the financing partner to provide additional capital for 3 wells to be drilled every 60 days on the property. If the Company hits two dry holes, the partner has the option to cancel the financing agreement.
The execution of the Letter of Intent triggered a period of due diligence, which will include inspection of the property by the potential financing partner. Assuming the due diligence results are acceptable to both parties, a Definitive Agreement is expected to be executed within the next 30 days, at which time additional details of the financing are expected to be disclosed.
"We are pleased to announce this letter of intent for a drilling program on our Nevada property, especially since the structure of the anticipated financing would be non-dilutive to holders of the Company's common stock," said Dennis Hopkins, president of LIG Assets, Inc. "Our targeted financing partner is planning on joining us on a visit to the proposed drilling site in early October after which we hope to move forward to a Definitive Agreement as soon as possible."
LIG Assets, Inc., holds the Nevada property through its recent merger with West Coast Partners, LLC and CP Resources, LLC. After drilling on the property has commenced, the Company also intends to begin the process of proving up the reserves.
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Signs Definitive Agreement to Merge With West Coast Partners, LLC and CP Resources, LLC to Focus on Oil & Gas Exploration and Production
Sep 04, 2014
OTC Disclosure & News Service
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DALLAS, Sept. 4, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA) is pleased to announce that it has officially merged with West Coast Partners, LLC and CP Resources, LLC effective September 02, 2014. West Coast Partners and CP Resources will become wholly owned subsidiaries of LIG Assets, Inc., and it is estimated that they bring added revenue of over $1 million a quarter. The primary focus of the merged entity will be to develop its current portfolio of leases for oil and gas reserves on over 36,000 acres in Nevada and Texas. LIG Assets will maintain its commercial and residential real estate operations, but may consider a spin-off or sale of these assets in the future.
West Coast Partners and CP Resources are also based in Dallas, TX and now in the process of moving its office staff to LIG Assets' currently underutilized high rise office space in downtown Dallas, and will complete its move over the next 60 days. Jeff Love, former CEO of LIG Assets, will maintain a board seat and the new position of Chief Operating Officer with the merged entity. Dennis Hopkins, a seasoned veteran with over 40 years of experience in the oil and gas industry, has been named President. Anthony Feezel has also been named a Director. Additional details of its large probable reserves, management's history, and additional merger details will be announced soon.
Finally, it is noted that management of the merged entity has no current plans to execute a reverse split of LIGA. However, the Company has plans to trade on a more senior exchange in the future with audited financials that may require restructuring at some point. Management of the entire merged entity is focused on greatly improving shareholder value, and firmly believes it will deliver.
Jeff Love, COO of LIG Assets, stated, "We recognized the need to do something significant to benefit our shareholders." He continued, "Through our merger with a Company with revenue, assets, huge potential, and a capable management team under one roof, we believe we can more effectively operate our real estate division while adding the huge potential that the oil business offers."
About LIG Assets, Inc.
In September 2014, LIG Assets, Inc. based in Dallas, TX, a Company focused on residential and commercial real estate, merged with West Coast Partners, LLC and CP Resources, LLC that are also based in Dallas. West Coast Partners and CP Resources are focused on oil and gas exploration and production. These entities currently have over 36,000 acres under lease in Nevada and Texas with geological reports that demonstrate the potential for massive reserves.
LIG Assets, Inc. still plans to expand its residential portfolio and increase commercial property transactions. The real estate division will continue to operate as a separate subsidiary under LIG Assets. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
(214) 760-1000
Email: jefflove@ligassetsinc.net
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets, Inc. Issues Corporate Updates
Aug 14, 2014
OTC Disclosure & News Service
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DALLAS, Aug. 14, 2014 (GLOBE NEWSWIRE) -- LIG Assets, Inc. (OTCPK:LIGA), a Company focused on residential and commercial real estate, announces it has successfully acquired several more foreclosure and short sale properties over the past six months, upgraded the homes, and have turned a profit through resale or owner financed rental. LIGA has multiple properties that are currently on the market or are nearing completion. The total purchase price of homes so far in 2014 has totaled over $1.5 million. In addition to an improving market for its residential unit, LIG Assets is making progress on the commercial side through its new relationship with GTM Hospitality. Recently it was announced that GTM and LIGA successfully purchased the Wyndham Baton Rouge Hotel for just over $5 million, and the partners plan to continue its push in the hospitality space where it sees value. LIGA has already sold its interest in the Baton Rouge Hotel to generate cash for new deals.
"LIG Assets has several advantages over most television and standard fix and flip artists. The Company and its management have been based in the Dallas / Ft. Worth market for many years. LIG Assets has established multiple long term relationships with trustworthy, seasoned contractors, construction firms, agents, and sourcing brokers. Since LIG Assets is actively fixing multiple properties simultaneously, it can take advantage of bulk pricing and utilize nearly all its sourced construction materials," said Jeff Love, CEO of Lig assets. "We have also been able to retire a portion of company debt over the last quarter, which will be reflected on our upcoming financials," he added.
LIGA reports that it has certainly helped that the Dallas-area home price is up by 10.4% in the latest residential value report by Core Logic Inc. The Dallas increase compared median home prices in April 2014 with April 2013 data. Dallas was among eight major U.S. cities that were reported to have double digit percentage price gains. "Home prices are continuing to rise as we head into the summer months," said Anand Nallathambi, president and CEO of Core Logic. "The purchase market continues to suffer from a dearth of inventory which we expect will continue to drive prices up over the year."
LIG Assets is interested in investors who might want to partner on specific fix and flip projects. The Company suggests interested parties contact Richard@ligassetsinc.net for more information
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through its alliances with hedge funds, mortgage brokers, and hard money lenders, LIG Assets plans to expand its residential portfolio and increase commercial property transactions. LIG Assets, Inc. currently trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
CONTACT: LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net or Jeff@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Phone: 214-760-1000
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
LIG Assets and GTM Hospitality Identify More Properties to Acquire Utilizing Their Recipe for Success
May 22, 2014
OTC Disclosure & News Service
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DALLAS, May 22, 2014 (GLOBE NEWSWIRE) -- Following the recent closing of the Wyndham Baton Rouge Hotel, GTM Hospitality, LLC and LIG Assets, Inc. (OTCPK:LIGA) are continuing their aggressive push in the hospitality space. With several properties lined up, the companies believe they now have a recipe for sustainable and profitable growth.
"It's not growth for the sake of growth," said Marty McDaniel, CHA, President and CEO of GTM Hospitality. "It's managed growth with the acquisition of properties that will cash flow right away." Jeff Love, CEO of LIG Assets agrees, "When you step back and look at the combined skill sets between the two companies, GTM with its operational experience and LIG with its finance and real estate experience, we are truly excited about the opportunity."
The two companies started strategy discussions some six months ago and have closely analyzed dozens of deals resulting in a polished pipeline. "As a second generation hotelier, I have been around every type of hospitality asset known and I can say that we have some exciting properties we are working on," McDaniel said. For Love, he is ready to leverage LIG's talents as well and added. "At LIG, we have been looking for a solid, profitable growth engine, and now we have found it."
About GTM Hospitality, LLC
GTM Hospitality, LLC is a fully integrated, full service Management and Development Company with an expanding portfolio of owned and managed properties based in Panama City, Florida. The Company is led by long time hotelier, Marty McDaniel, CHA who is President and CEO.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through its alliances with hedge funds, mortgage brokers, and hard money lenders, LIG Assets plans to expand its residential portfolio and increase commercial property transactions. LIG Assets, Inc. currently trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
CONTACT: Media Inquiries:
Marty McDaniel, CHA
President and CEO
GTM Hospitality, LLC
Marty.McDaniel@GTMHospitality.BIZ
www.GTMHospitality.BIZ
850-269-7235
Jeff Love
President and CEO
LIG Assets, Inc.
Jeff@LIGAssetsinc.net
214-760-1000
Copyright © 2014 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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