International Land Alliance Signs Letter of Intent to Acquire Minority Interest in Rancho Costa Verde Development, LLC

Rhea-AI Summary

International Land Alliance (OTCQB:ILAL) has signed a Letter of Intent to acquire a 25% stake in Rancho Costa Verde Development, LLC, a profitable developer of a 1,100-acre community in Baja California. This strategic acquisition aligns with ILA's growth strategy, enhancing its operational resources. The partnership is expected to leverage RCV's extensive sales experience, with over $500 million in residential sales in the last two decades. The agreement is subject to due diligence and customary conditions.

Positive

• Acquisition of 25% interest in a profitable developer.
• Enhanced operational resources and synergy with RCV.
• Potential to leverage RCV's management experience and extensive sales network.

Negative

• None.

SAN DIEGO, CALIFORNIA, May 03, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, has signed a Letter of Intent (the “LOI”) to acquire a 25% interest in Rancho Costa Verde Development, LLC (“RCV”). RCV is a profitable developer of a 1,100-acre, 1,200-lot master planned community in Baja California, located roughly 8 km north of ILA’s Oasis Park Resort.

“A key part of our growth strategy is making synergistic acquisitions that carry expanded resources to our operations, and this proposed agreement is an ideal example of meeting these criteria," said Jason Sunstein, Vice President of ILA. “Not only is RCV an established, profitable development company with a complementary real estate asset, but its management team has sold over $500 million in residential sales in Baja California over the last 20 years. This partnership will be instrumental in executing our sales and marketing strategy in 2021 and beyond. We look forward to working with the RCV team and leveraging its real estate offices and network of affiliates throughout California as we work toward our overall corporate objectives.”

For more information on RCV, please visit www.ranchocostaverde.com.

The LOI is subject to customary conditions precedent, including but not limited to, satisfactory due diligence, no material adverse change and the entering into of a definitive agreement.

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:
Investor Relations:
Brooks Hamilton
Senior Vice President
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us

FAQ

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

The acquisition enhances ILA's operational resources and leverages RCV's sales expertise, promoting growth.

What percentage of Rancho Costa Verde Development is International Land Alliance acquiring?

ILA is acquiring a 25% interest in Rancho Costa Verde Development.

When was the Letter of Intent for the acquisition signed?

The Letter of Intent was signed on May 3, 2021.

What kind of development is Rancho Costa Verde involved in?

RCV is developing a master-planned community with 1,200 lots on 1,100 acres in Baja California.

What are the conditions for the acquisition of Rancho Costa Verde by International Land Alliance?

The acquisition is subject to satisfactory due diligence, no material adverse change, and entering into a definitive agreement.