JV Group, Inc. (OTC MARKETS:ASZP) Announces Plans to Acquire Casamora Resort Assets
Retrieved on:
Saturday, May 14, 2022
Under the terms of the agreement, which was unanimously approved by the board of directors of both companies, JV Group will purchase Abraxas's real estate portfolio as part of the initial acquisition of the Casamora Resort group of assets.
Key Points:
- Under the terms of the agreement, which was unanimously approved by the board of directors of both companies, JV Group will purchase Abraxas's real estate portfolio as part of the initial acquisition of the Casamora Resort group of assets.
- In connection with this transaction, Abraxas Corporation shareholders agree to accept a portion of the purchase price in shares of JV Group at market price on the date of the updated appraisal.
- JV Group's purchase of Abraxas's real estate assets are subject to customary closing conditions and is expected to close in the current Quarter.
- As the first planned acquisition in the Country of Belize, management believes that these Casamora Resort assets fit perfectly with the company's strategy of creating a robust network of residential enclave communities in the Caribbean.