LIGA Expanding Sustainability Platform, Making Investment in Carbonaix Corp; Engaging Audit Firm and Commences Search for CEO and Management Team

Rhea-AI Summary

LIG Assets, Inc. (LIGA) expands its sustainability platform by investing in Carbonaix Corp. The company is engaging an audit firm and searching for a CEO and management team. The investment in Carbonaix aims to enhance LIGA's presence in Carbon Credits, Climate Tech, and Energy Efficiency markets.

NASHVILLE, TN, April 15, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIG Assets, Inc. (OTC Pink: LIGA) (the "Company"), a publicly traded sustainability-oriented holding company with a focus on sustainable housing, media, and logistic markets, is furthering its platform with its key strategic investment in Carbonaix Corp., a development stage company focused on business and consumer engagement in Carbon Credits and Offsets as well as unique solutions in Climate Tech and Energy Efficiency. Furthermore, in anticipation of uplisting to OTCQX/QB, LIG Assets is also engaging a PCAOB firm to audit its financials and the Company has commenced an Executive Search for C-Level Management: CEO, COO and CTO.

On April 12, 2024, the Company and Carbonaix Corp executed a non-binding Memorandum of Understanding that provides LIGA with an exclusive right to invest up to $500,000 in a Series Seed Round in Carbonaix and arrange through strategic partners another secondary round of up to $2,000,000 with Definitive Agreements executed with 60 days. LIGA is currently in the process of re-capitalizing and expects to conclude the transaction when funding is completed.

"Today's announcement is an important milestone for LIGA. As we move closer to various mergers, acquisitions and joint ventures, we have attracted more attention from investors and funds recently. Our strategy is to trade through a new OTCQX/QB stock quotation allowing more accessibility for investors in the capital markets to purchase shares in LIGA,” stated Marvin Baker, Chairman and President of LIG Assets.

Baker continued, “The Investment in Carbonaix, the engagement of an auditor and the Executive C-Level search are important steps to strengthen the existing LIG foundation and position it for uplisting to OTCQX/QB. Furthermore, Carbonaix’s technology in Carbon, Climate and Consumer Engagement provides LIGA with a cohesive strategic plan to enter a new consumer market and provides a model in which to scale the core business into multiple categories. The Carbonaix platform will have ‘first mover’ status’ in an entirely new market.”

“We appreciate the Interest and Investment provided by LIG Assets and are looking forward to growing together at this important time in Climate Tech and Consumer Engagement. Carbonaix is private sector solution to a worldwide problem,” said Scott Harmolin, Chairman and CEO of Carbonaix. With a proven history, Mr. Harmolin has a track record starting and developing leading edge technology companies, such as Icon CMT Corp. His expertise extends to managing both private and public funding initiatives, as well as overseeing mergers and acquisitions.

For more information about Carbonaix: www.carbonaix.com.

About LIG Assets, Inc.:

LIG Assets, Inc., (OTC:LIGA) in association with Robert Plarr is the emerging "Leader in Green Assets" -- focused on exclusive green, renewable energy and sustainable and disaster resistant homes, living systems, technologies and components to be utilized in the residential and commercial real estate acquisition and development projects currently underway and now individual product sales, as well as rapid expansion into other sectors via acquisitions, mergers and joint venture partnerships. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA."

Shareholder/Investor inquiries can be directed to:

LIG Assets, Inc.
Telephone: (833) 544-2466 / (833) LIGAHOMES
Facebook @ www.Facebook.com/ligahomes
Twitter @ https://twitter.com/ligassets

Forward-Looking Statements:

This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings on file at https://www.otcmarkets.com/stock/LIGA/overview

FAQ

What is LIGA's recent strategic investment?

LIGA has made a key strategic investment in Carbonaix Corp., a company focused on Carbon Credits, Climate Tech, and Energy Efficiency.

What is LIGA's plan for uplisting?

LIGA is anticipating uplisting to OTCQX/QB and is engaging a PCAOB firm to audit its financials.

Who is LIGA searching for in terms of executive management?

LIGA is searching for a CEO, COO, and CTO to strengthen its management team.

What is the investment amount in Carbonaix Corp.?

LIGA has the exclusive right to invest up to $500,000 in a Series Seed Round in Carbonaix and arrange another secondary round of up to $2,000,000.

Who is the Chairman and President of LIG Assets?

Marvin Baker serves as the Chairman and President of LIG Assets.