Anderson, South Carolina–(Newsfile Corp. – January 19, 2023) – JZZ Technologies, Inc.’s (OTC Pink: JZZI) (“JZZ” or the “Company”) wholly owned subsidiary Lion Development Corporation (“Lion”) reports that it projects $5.5 million for revenues on regional real estate development projects in South Carolina for the 2023 fiscal year.
The projects being developed by Lion are small to large scale residential and commercial real estate and construction projects. They include the contemplated acquisition of properties in the South Carolina region with build-to-suit, multiple residential units, and other custom solutions such as a multi-unit complex near the popular Clemson University area.
Thomas Hays, President of Lion Development Corporation, states, “We have reached agreements on multiple projects that are well suited to our experience in residential real estate construction. With the support provided by our parent company, JZZ Technologies, Inc., we have been able to reach out to the communities where we have a long history of delivering quality projects and we contemplate immediate results from new projects and increased opportunities for additional projects.”
Charles Cardona, CEO of JZZI, added, “The early success by Lion Development Corporation in putting together these developments is a true indicator of our rapid progress in this area. The Lion projects are being designed to capture revenue through JZZ’s subsidiary and contract partners which is expected to add value to the communities we help develop, while generating maximum profits for the Company. We are looking forward significant growth in this sector over the next year – especially within our target regions for new community growth or heavy migration from other states.”
Management expects results from negotiations and closing on additional properties in the Carolinas and in Florida in preparation of custom construction and/or commercial development of properties in the near term.
About JZZ Technologies, Inc.
JZZ Technologies, Inc. is a diversified company engaged in several business sectors. Its Active Lifestyle Digital media business includes online media and apps (activelifestylemedia.com), content creation, and digital marketing targeted to active adults 55+. Its Active Lifestyle Real Estate Development division is engaged in acquiring, managing, and operating commercial and residential real estate and housing development projects. For more information, please visit jzztechnologies.com.
JZZ Technologies, Inc.
Charles Cardona, CEO
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.
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