International Land Alliance Announces Acquisition
International Land Alliance (ILAL) has acquired 20 beachfront acres adjacent to their Oasis Park Resort. This acquisition adds 36 residential homesites, with projected gross land sales of $2 million and potential construction revenues of $9 million. The deal was completed without any cash at closing; payments will be made as a percentage of sales. President Frank Ingrande highlighted the success of recent sales at Phase I and the strategic growth potential without depleting cash, incurring debt, or issuing equity. The company focuses on acquiring land in Northern Baja California, aiming for sustainable and socially responsible development.
- Acquisition of 20 beachfront acres adjacent to Oasis Park Resort.
- Addition of 36 residential homesites.
- Projected gross land sales of approximately $2 million.
- Potential construction revenues of $9 million.
- Acquisition completed without cash at closing.
- Payments to be made as a percentage of sales.
- Strategic growth without depleting cash, incurring debt, or issuing equity.
- Successful sales at Phase I influenced the acquisition decision.
- None.
SAN DIEGO, CALIFORNIA, June 06, 2024 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILAL” or the “Company”), an international land investment and development firm, today announced the acquisition of 20 beachfront acres adjacent to the Company’s Oasis Park Resort. This purchase adds 36 residential homesites with total projected gross land sales of approximately
Frank Ingrande, President of ILAL, noted: “Based on the recent success of sales at Phase I, we exercised an option to acquire this parcel, which is adjacent to the 9 beachfront lots sold last month. This acquisition was completed without any cash at closing and will be paid as a percentage of sales. We will continue to identify acquisition candidates utilizing this formula, providing significant growth without depleting cash, incurring debt or issuing equity.”
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 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 expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Jason Sunstein, CFO
Jason@ila.company
FAQ
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