International Land Alliance Announces Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC

Rhea-AI Summary

International Land Alliance (OTCQB: ILAL) has announced the execution of a Binding Letter of Intent to acquire the remaining 75% interest in Rancho Costa Verde Development, LLC for $13.5 million through a new series of preferred stock. ILA previously acquired a 25% stake in RCV in early 2021. RCV is developing a 1,100-acre, 1,400-lot community in Baja California. The definitive agreement is expected by August 15, 2022, enhancing ILA's strategic focus on land investment in Northern Baja California.

Positive

• Acquisition of 75% interest in RCV enhances ILA's portfolio.
• RCV's project includes a 1,100-acre, 1,400-lot community, promising potential revenue growth.

Negative

• Acquisition involves issuing new preferred stock, which may dilute existing shareholders.
• Dependent on successful completion of the definitive agreement by August 15, 2022.

SAN DIEGO, CALIFORNIA, July 28, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or the “Company”), an international land investment and development firm, announced today that it has executed a 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. The Company successfully completed the acquisition of a 25% minority interest in early 2021. 

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

Rancho Costa Verde Development (Video): https://youtu.be/gkrCHyubhg0

A definitive agreement is expected to be completed on or before August 15, 2022.

About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.

Safe Harbor Statement

The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

CONTACT:

International Land Alliance, Inc.
Jason Sunstein
Email: jason@ila.company
Phone: (877) 661-4811

Attachments

• International Land Alliance Announces Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC
• International Land Alliance Announces Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC
• International Land Alliance Announces Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC
• International Land Alliance Announces Binding Letter of Intent to Acquire Remaining 75% of Rancho Costa Verde Development, LLC

FAQ

What is the purpose of International Land Alliance's acquisition of Rancho Costa Verde Development?

The acquisition aims to enhance ILA's investment portfolio by obtaining full control of the profitable Rancho Costa Verde project.

What is the financial value of the acquisition deal involving ILAL?

The deal to acquire the remaining 75% interest in RCV is valued at $13.5 million.

When is the definitive agreement for the acquisition of RCV expected to be completed?

The definitive agreement is expected to be finalized by August 15, 2022.

What is the significance of the Rancho Costa Verde project for ILAL?

The project includes 1,100 acres and 1,400 lots, positioning ILAL for potential market expansion and increased revenue.