International Land Alliance Inc (ILAL)

[xttro]

Looks interesting! previously announced executed Binding Letter of Intent to acquire the remaining 75% interest in Rancho Costa Verde Development, LLC (“RCV”) for $13,500,000 in a new series of the Company’s preferred stock. Based on the successful completion of the acquisition of a 25% minority interest in early 2021, the Company has been able to expedite and complete due diligence and is preparing for a closing. Due to the following assets and year-to-date sales, there is a significant impact on the Company’s balance sheet, P&L, and overall financial statements. This requires additional audits, valuations, and regulatory filings. The Company and RCV have already started preparation and expect to close this transaction by the end of September 2022.

RCV is a profitable developer of a 1,100-acre, 1,400-lot master planned community in Baja California, located roughly 8 km north of the Company’s, Oasis Park Resort, on the Sea of Cortez. For more information about this green off-grid community, we invite you to visit: www.ranchocostaverde.com

To date, RCV has sold over 1,000 residential lots and built 55 single family homes, with 32 under construction. This is in addition to a completed boutique hotel and clubhouse.