JZZ Technologies, Inc. Closes Acquisition of Oxygen Mortgage

Rhea-AI Summary

JZZ Technologies Inc. (OTC Pink: JZZI) has closed its acquisition of O2 Mortgage, LLC, DBA Oxygen Mortgage, fulfilling the first step in creating a vertically integrated Real Estate Development Division. Oxygen Mortgage aims to grow JZZ's Real Estate Development Division by building communities and offering a superior home buying process. The Company plans to make a significant capital investment in technology to perfect the client experience while expanding its national footprint.

Anderson, South Carolina--(Newsfile Corp. - November 29, 2023) - JZZ Technologies Inc., (OTC Pink: JZZI) ("JZZ" or the "Company"), a diversified company focused on real estate development and digital media, has closed its acquisition of O2 Mortgage, LLC, DBA Oxygen Mortgage ("Oxygen"). With the acquisition of Oxygen Mortgage, JZZ is fulfilling the first step in creating a vertically integrated Real Estate Development Division.

Oxygen Mortgage's goal is to grow JZZ's Real Estate Development Division by building great communities for people to raise their families in and to build wealth through Real Estate. Having an experienced, quality mortgage division levels the Company up with the largest builders in the country. Oxygen intends to lead with service, technology, and experience to offer a truly superior home buying process that's ranked highest with its customers. To achieve its goals, the Company plans to make a significant capital investment in Oxygen's technology to perfect the client experience, all while expanding its national footprint.

"I couldn't be any more excited about joining with JZZ Technologies. This is truly a great scenario for both of our companies. We have so much potential together to contribute to a complete service experience and the overall success of the Real Estate Development Division," says Rob Egeland, President, and CEO of Oxygen.

In the post-Covid era, many corporations and families have migrated from large urban areas in favor of developing regions with increased quality of life. These areas offer lower cost of living, flexible job opportunities, and significant tax advantages. The Company's real estate division is initially targeting real estate projects in South Carolina and the surrounding regions -one of the hottest markets in the country. The Company has identified a huge opportunity to be at the forefront of developing mixed use, multifamily, and luxury rental communities.

Oxygen Mortgage will continue to operate as a full-service mortgage company helping homeowners purchase homes in over 20 major markets throughout the US. Ease of application, education of borrowers to the process, and a long-term relationship will be even more important as we emerge from the current high-rate environment. By taking care of clients in areas such as helping to lower their rates and payments, Oxygen will be well positioned for future refinance opportunities and recurring business.

Charles Cardona, CEO of JZZI, stated, "We're pleased to close on the Oxygen acquisition. Robert Egeland and his team at Oxygen Mortgage add a whole new capacity for our real estate division. Under Rob's guidance, we're confident that we can use our joint resources to build a highly successful real estate division which we anticipate will create high-quality projects that generate major revenue for JZZ."

About Oxygen Mortgage

Based in Boulder, Colorado, Oxygen Mortgage (oxygenmortgage.net) provides full-service mortgage brokerage services for consumers including adjustable and fixed rate loans, FHA, VA and jumbo loans, as well as reverse mortgage financing. Its founder and CEO, Robert Egeland has more than 31 years of experience having closed over 28,000+ transactions in both Mortgage and Real Estate Title. Oxygen's team are focused on building and maintaining long-term client relationships. Oxygen aspires the be "your mortgage company for life."

About JZZ Technologies, Inc.

JZZ Technologies, Inc. is a diversified company engaged in several business sectors. Its newly launched real estate development division is engaged in acquiring, developing, and operating multifamily, mixed-use, commercial, and residential real estate, vacation rentals and RV resorts, and housing development projects. Its Active Lifestyle Digital media business includes online media and apps, content creation, and digital marketing targeted to active adults 55+. For more information, visit jzztechnologies.com.

Press Contacts:
JZZ Technologies, Inc.
Charles Cardona, CEO
ceo@jzztechnologies.com

DISCLAIMER and FORWARD-LOOKING STATEMENTS

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188999

FAQ

What is the latest acquisition by JZZ Technologies Inc. (JZZI)?

JZZ Technologies Inc. has closed its acquisition of O2 Mortgage, LLC, DBA Oxygen Mortgage.

What is the goal of Oxygen Mortgage for JZZ's Real Estate Development Division?

Oxygen Mortgage aims to grow JZZ's Real Estate Development Division by building great communities for people to raise their families in and to build wealth through Real Estate.

How does Oxygen Mortgage plan to offer a superior home buying process?

Oxygen intends to lead with service, technology, and experience to offer a truly superior home buying process that's ranked highest with its customers.

What are the expansion plans of JZZ Technologies Inc. (JZZI) after the acquisition?

The Company plans to make a significant capital investment in Oxygen's technology to perfect the client experience, all while expanding its national footprint.