Shareholder Updates: Premier Products Group, Inc. Enters into Talks With the City Of Port Lavaca, Texas for Waterfront Commercial/Retail Real Estate Development
On February 11, 2021, Premier Products Group, Inc. (PMPG) announced the resumption of talks with the City of Port Lavaca, Texas, regarding a development project on over 48 acres of waterfront property. A letter was executed, agreeing to enter into a P3 Public/Private Partnership to promote local economic development. The project includes plans for retail space, residential condos, restaurants, a marina, and more. Additionally, PMPG has initiated a joint venture with NPI Mobile to create SmartRoad Turtle, LLC.
- Resumption of talks for a significant waterfront development in Port Lavaca.
- Creation of a Public/Private Partnership to enhance economic development.
- Plans include diverse amenities, potentially boosting local economy.
- None.
LOS ANGELES, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Premier Products Group, Inc. (PMPG), (OTC Pink:PMPG) announced today that talks with the City of Port Lavaca, Texas have resumed in regard to the development of 48 plus acres of City owned waterfront property. PMPG have executed a letter with the City of Port Lavaca that agrees in principle only to enter into a P3 Public/Private Partnership combined with an Agreement to promote Economic Development on behalf of the Municipality. “The multi-faceted development project goes beyond the obvious initial economic stimulus to the municipality; it creates a long-term regional resort destination,” states, Greg J Goulas, Senior VP of Development.
The Development team has provided preliminary site-plans and architectural renderings to the City for the Bison Bay Business District development. “Developing a project of this size takes time, city planning, and numerous approvals from several municipalities,” also stated Mr. Goulas. This Partnership will include a land swap in exchange for much needed additional infrastructure improvements provided by the joint venture. The Initial Bison Bay District plans includes retail space, residential condos above retail w/water-views, restaurants, a marina, brick paved boardwalk along shore line with new sand beaches and two mid-rise apartment complexes.
OTHER PMPG UPDATES:
- PMPG executed a joint venture contract with NPI Mobile to create SmartRoad Turtle, LLC (SRT)
- SRT continues talks to finalize a Letter of Intent with a global manufacturer for manufacturing and distribution
Safe Harbor Statement:
Except for historical information, certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions these forward-looking statements are qualified by other factors.
CONTACT:
Tony Hicks
Chairman and CEO
www.pmpginc.com
info@pmpginc.com
(818) 798-1878
FAQ
What is the latest update regarding PMPG's project in Port Lavaca?
What are the key features of the Bison Bay Business District development?
What is the purpose of the Public/Private Partnership for PMPG?
What joint venture has PMPG executed recently?
What ongoing discussions is SmartRoad Turtle, LLC involved in?
