Safe and Green Holdings Corp (SGBX)

[Milesblue42]

Lago Vista, Under Contract at Full Asking Price

https://www.marketwatch.com/press-release/sgb-development-corp-site-lago-vista-under-contract-at-full-asking-price-2022-08-16?mod=mw_quote_news_seemore

The property was acquired in May of 2021. The contracted sale will generate the Company a significant return on its investment. Closing is expected to occur in the fourth quarter of 2022.

“We are excited to announce the contract for the sale of our Lago Vista property today,” Paul Galvin, Chairman and CEO of SG Blocks explained. “We intend to use the value we attain from this sale to continue to grow SG Blocks, while preventing any dilution to shareholders from future financings. As stated in our earnings call yesterday, we do not foresee a need to access the capital markets at this time, and our sale of Lago Vista only helps to bolster our balance sheet.”