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SG Blocks, Inc. (NASDAQ: SGBX) has formed the SGB Development Corp. Advisory Board, comprising industry leaders in real estate, hospitality, design, and manufacturing. This strategic move aims to enhance SG Blocks’ real estate development initiatives. The board includes experts like Kevin Rohani and Jordan Bem, who will provide innovative ideas for upcoming projects across multiple states, including Oklahoma and Texas. CEO Paul Galvin expressed enthusiasm for the diverse expertise that will contribute to the company's growth and expansion.
Positive
Formation of an Advisory Board with industry leaders, expected to provide strategic insights.
Plans for significant expansion in various states with diverse project types.
Negative
Concerns regarding the effectiveness of the Advisory Board in delivering innovative ideas.
Risks associated with the ability to successfully expand as planned.
Adds industry leaders in real estate, hospitality, design & manufacturing sectors to help expand upon its growth
NEW YORK--(BUSINESS WIRE)--
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of modular structures, today announced that SGB Development Corp. (“SGB DevCorp”), a wholly-owned subsidiary of the Company, has formed the SGB Development Corp.Advisory Board with a group of innovative leaders from various industries who plan to provide strategic counsel to SG Blocks’ real estate development arm.
The Advisory Board will consist of Kevin Rohani, the Head of Development for Accor’s Lifestyle Hotels in North and Central America, Jordan Bem, the Founder & Chief Executive Officer of Moliving Inc., Nancy Guzman, Development Director for the Housing Authority of Cook County, Ahmad Cory Jubran, Vice President of Originations at Bank OZK, and Eric Tate, a Principal Officer with Teamsters Local 848.
“We’re thrilled to announce that our newly formed development advisory board is stacked with industry leaders who have extremely impressive and diverse backgrounds, experience and accolades,” Paul Galvin, Chairman and CEO noted. “As SGB DevCorp continues its plans to expand and annex a wide variety of development projects, we have an Advisory Board with vast depth of knowledge that we expect will provide us with innovative ideas to help move the business forward.”
SGB DevCorp currently has projects located in Oklahoma, Texas, Georgia, Maryland, Virginia, and New York, with plans to scale and expand. The current portfolio ranges from factories to workforce housing, residential developments, mixed-use communities, and townhomes.
SG Blocks plans to introduce each Advisory Board member with further details on their background via the Company’s social platforms.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding SGB DevCorp’s plans to expand and annex a wide variety of development projects, the expected contribution of the Advisory Board, and plans to introduce each Advisory Board member with further details on their background via the Company’s social platforms. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the SGB DevCorp’s ability to expand and annex a wide variety of development projects as planned, the ability of the Advisory Board to provide SGB DevCorp with innovative ideas to help move its business forward, the Company’s ability to provide further updates as planned, the Company’s ability to expand within various verticals as planned, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
What is the purpose of the SGB Development Corp. Advisory Board formed by SG Blocks?
The Advisory Board aims to provide strategic counsel and innovative ideas to enhance SG Blocks' real estate development projects.
Who are the members of the Advisory Board for SG Blocks?
The Advisory Board members include Kevin Rohani, Jordan Bem, Nancy Guzman, Ahmad Cory Jubran, and Eric Tate.
What kind of projects is SGB DevCorp planning to expand into?
SGB DevCorp is planning to expand into various projects including factories, workforce housing, residential developments, mixed-use communities, and townhomes.
When was the Advisory Board for SG Blocks announced?
The Advisory Board was announced recently, as part of SG Blocks' ongoing strategy to enhance its development capabilities.
How does SG Blocks plan to introduce its Advisory Board members?
SG Blocks plans to introduce each Advisory Board member with further details on their background via the Company’s social media platforms.
