Webstar Technology Group Inc. (WBSR) Announces New Group; Replaces Management & Prior Business in Return for Seasoned Real Estate Enterprise Situated in The Billion Dollar Real Estate Development, Resort & Hospitality Markets (1)

Rhea-AI Summary

Webstar Technology Group (WBSR) has announced significant changes including new management, a shift in business model, and the removal of prior assets and debts. The company is acquiring Bear Village, an anticipated $650M family resort project, and a $40M cryptocurrency funding agreement. The new CEO, Ricardo Haynes, plans to submit a $10M Regulation-A offering at $7.00 per share in Q3 2024. These steps aim to bolster the company’s financial stability and enhance shareholder value, with a focus on the Bear Village development.

Positive

• Acquisition of Bear Village, a $650M family resort project.
• New $40M cryptocurrency funding agreement through 50,000 RORA COINS.
• Planned $10M Regulation-A offering at $7.00 per share in Q3 2024.
• Strategic initiatives to spur shareholder value and financial stability.

Negative

• Previous assets and debts removed without specifying losses or gains.
• Potential risks associated with cryptocurrency funding.

The New Group Plans to Introduce Major Capital Infusion in Q3 2024: Plans to Submit a Regulation-A Offering Of $10 Million At $7.00 Per Share into The Market; 

Management Plans to Aggressively Move Forward to A Higher Trading Exchange with Strategic Initiatives to Spur Future Value for its Shareholders.

ATLANTA, June 25, 2024 /PRNewswire/ -- Webstar Technology Group Inc. (OTCQB: WBSR) today announced it has filed an 8K which contains summaries of the material terms of various actions and agreements recently executed. There were three such actions/agreements that effectively transferred the ownership and control of the Company's Board and Officers; brought in a new business model; and the removal of the Company's prior business along with its assets and debts.

The details of the above three matters can be found in the Company's 8K filing at: (https://www.sec.gov/edgar/browse/?CIK=1645155&owner=exclude)

The assets brought into the Company include the assets and intellectual property associated with the Bear Village, Inc., an anticipated $650M family resort destination project, that will include indoor and outdoor water parks and karting, a family entertainment center, short-term stay rentals and hotel flagged by Wyndam from Thunder Energies Corporation (OTCMKTS: TRNG). The assets also include RORA Prime cryptocurrency funding agreement valued at $40 million dollars via 50,000 RORA COINS being issued and delivered to Thunder Energies with a trading value set at $800 per coin which can be used to help back the project financing. (see https://www.globenewswire.com/en/news-release/2022/05/26/2451636/0/en/Thunder-Energies-Signs-40-Million-Funding-Agreement.html)

Ricardo Haynes, the new CEO of the Company said: "With the completion of this transformative transition, the company is poised to submit a Regulation-A offering of $10 million at $7.00 per share into the market. This capital injection will be instrumental in advancing the current development of the Bear Village (https://www.bearvillageresorts.com/) family entertainment project located in Georgia and provide a pathway to further shareholder value.

The Company is steadfast in its commitment to bolstering its balance sheet, and as part of this initiative, plans are underway to introduce a major capital infusion. This strategic move is anticipated to begin no later than Q3 2024 to provide consistent ongoing cash flow to company's operations, further enhancing Webstar Technology Group's financial stability and operational agility."

He continued: "We are thrilled to embark on this new chapter of growth and development. The addition of new assets and shareholders underscores our dedication to strengthening our position in the market and realizing our vision for Bear Village and other endeavors."

The Company will shortly be releasing more information on these matters, a new website and will be discussing the Management's plans and perspectives via a Management Update(s).

About Webstar Technology Group, Inc.

Webstar Technology Group is a leading development company committed to innovation and excellence. With a focus on leveraging cutting-edge solutions to drive growth and create value, Webstar Technology Group is dedicated to delivering exceptional experiences for its customers and stakeholders.

Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Webstar Technology Group Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward -looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Webstar Technology Group Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.

Contact:

Investor Relations
Webstar Technology Group, Inc.
P: (844) 601-1956

Donald R. Keer, P.E., Esq.
Corporate Counsel
Webstar Technology Group, Inc.
P: (254) 704-2675

¹ Hospitality Real Estate Market Is Expected To Reach USD 75.36 billion By 2027; https://www.technavio.com/report/hospitality-real-estate-market-analysis

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SOURCE Webstar Technology Group

FAQ

What new assets did Webstar Technology Group (WBSR) acquire?

Webstar Technology Group acquired Bear Village, a $650M family resort project, and a $40M cryptocurrency funding agreement.

What is the value of the Bear Village project acquired by Webstar Technology Group (WBSR)?

The Bear Village project is valued at $650 million.

What is the amount and price per share of Webstar Technology Group's (WBSR) planned Regulation-A offering?

Webstar Technology Group plans a $10 million Regulation-A offering at $7.00 per share.

When does Webstar Technology Group (WBSR) plan to introduce the new capital infusion?

Webstar Technology Group plans to introduce the new capital infusion in Q3 2024.

What is the purpose of Webstar Technology Group's (WBSR) $10 million Regulation-A offering?

The $10 million Regulation-A offering aims to advance the development of the Bear Village project and provide a pathway to further shareholder value.