CAVR (LiveToBeHappy, Inc) Offered $30 Million Financing Arrangement, Acquires Majority of Real Estate Services Company with $20 Million of Expected Revenue in 2022, and Announces Plan to Reduce Float by 15%

Rhea-AI Summary

LiveToBeHappy, Inc. (OTC: CAVR) has secured a $30 million term sheet aimed at funding new acquisitions, recapitalizing the business, and initiating a share repurchase of up to 6% of its outstanding common stock. The company has also acquired a majority stake in HRS Construction, which has a $20 million revenue pipeline for 2022. This strategic acquisition is expected to enhance the company's net income and expand its real estate services and commercial rehabilitation offerings.

Positive

• Acquisition of a majority stake in HRS Construction expected to enhance net income.
• The $30 million funding will support further acquisitions and reduce float by 15%.
• Expansion into real estate services and commercial rehabilitation adds diversification.

Negative

• None.

CHARLOTTE, N.C., April 04, 2022 (GLOBE NEWSWIRE) -- LiveToBeHappy, Inc. (OTC: CAVR), today announced that it has been offered a $30 Million Term Sheet to fund new acquisitions, re-capitalize the business, and initiate a share repurchase of up to 6% of the outstanding common stock.

The company also announced today it has acquired a majority stake in HRS Construction (“HRS”), a Real Estate Services Company with $20 Million in their revenue pipeline for 2022. HRS operates throughout the southeast and is focused on real estate services and large commercial rehabilitation. The acquisition is expected to be significantly accretive to the Company’s combined 2022 net income.

Kevin Vincent Cox, Chief Executive Officer of LiveToBeHappy, Inc., commented, “Our hard work is starting to payoff in multiples for the company. This is an exciting and strategic acquisition for us.  No shares are being added to the float and the team at HRS and Sinacori have already started their integration planning. We reached another major milestone and will be executing a $30 Million term sheet that upon funding will finance additional real estate services acquisitions, payoff existing convertible debt, and reduce the current float by 15%. We are expanding our footprint, our labor pool, and our service offerings.  I’m thrilled to add real estate services and commercial rehabilitation to our current land development business as the synergy between our subsidiaries is strong. We see continued growth in the real estate services sector well into the future.”

The company continues to execute on its ambitious expansion plans and looks forward to providing timely updates in the coming weeks and months and will likely be raising its revenue and profit forecast substantially in the next few weeks as the company integrates this impressive and profitable acquisition into the LiveToBeHappy, Inc. family.

 About LiveToBeHappy, Inc.

LiveToBeHappy, Inc. is a platform company that acquires undervalued assets and professionally manages them. LiveToBeHappy Inc.’s wholly owned subsidiary, Sinacori Builders, is a residential land development and custom single- and multi-family home builder in Charlotte, N.C. LiveToBeHappy, Inc. has two remaining pending acquisitions under Letters of Intent which are expected to transform the Company into a vertically integrated real estate services company with a broader footprint and more diversified revenue stream. The Company’s mission is to build lives, not just places to live. For more information, please visit our website at www.livetobehappy.com.

About HRS Construction

HRS Construction is led by Jonathan Kidd who has over 20 years of experience in Hospitality Renovation Services. The company has contracts with several hoteliers and entertainment companies to retrofit and rebuild their real estate holdings across the Southeastern part of the United States over the next several years. They pride themselves on being an anti-cyclical real estate services company.

 Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.

Investor Contact:

IR@LTBH.com

FAQ

What is the $30 million term sheet about for LiveToBeHappy, Inc.?

The $30 million term sheet is intended for funding new acquisitions, recapitalizing the business, and initiating a share repurchase program.

How will the acquisition of HRS Construction impact LiveToBeHappy, Inc.?

The acquisition is expected to significantly boost combined net income and expand the company's service offerings in real estate.

What is the revenue pipeline for HRS Construction in 2022?

HRS Construction has a projected revenue pipeline of $20 million for 2022.

How much of LiveToBeHappy's stock will be repurchased?

LiveToBeHappy plans to repurchase up to 6% of its outstanding common stock.

What future growth does LiveToBeHappy, Inc. anticipate?

The company expects to raise its revenue and profit forecasts significantly following the integration of HRS Construction.