JZZ Technologies, Inc. Acquires First Land Parcel for Development by Subsidiary LION Developments, LLC in South Carolina
Anderson, South Carolina–(Newsfile Corp. – October 13, 2022) – JZZ Technologies Inc. (OTC Pink: JZZI) (“JZZ” or the “Company”), a diversified company focused on digital media, biotechnology acquisitions related to human life extension longevity and active lifestyle real estate development, has acquired its first land parcel as part of its new realty development division. The project kicks off construction and development of residential projects to be carried out by its recently acquired subsidiary LION Developments, LLC in South Carolina.
The initial parcel is located in Anderson County, South Carolina. Through its wholly owned subsidiary, LION Developments, JZZ expects the residential developments to be ready for sale within the 2023-2024 time horizon. This project, along with other projects already on contract for development by LION, account for nearly $2 million in revenue to JZZ in the next twelve months.
JZZ and its LION Development Group are targeting residential and commercial projects throughout the southeast. South Carolina and the surrounding southeast region are ranked in the top five areas for real estate performance in the current market climate.
Coupled with its extensive database of seniors and executives, the Company will be able to effectively market its residential offerings to a broad and receptive audience that are seeking senior living and quality of life options. This integrated approach will help JZZ to maximize cash flow and profits from a growing list of real estate projects.
Charles Cardona, CEO of JZZ Technologies, Inc. stated, “We are really encouraged by acquiring our first land package to kick off our development projects. We expect to see a whole roster of land development as we continue to review projects and negotiate new projects. The Company anticipates significant increases in revenues as we expand our Active Lifestyles development division.”
The Company has targeted South Carolina for its profile as one of the best real estate growth markets in the US, mainly due to migration by homeowners fleeing high tax, high regulation, and high crime regions. Real estate figures from Redfin confirm that home prices in South-Carolina were up 13.2% year-over-year in August 2022. At the same time, the number of homes sold fell 12.8% and the number of homes for sale fell 3.7%.
About LION Development Group LLC
Based in South Carolina, LION Development Group and its founders have over 30 years of combined experience in the acquisition, development, and management of residential and commercial properties in South Carolina, North Carolina, Florid a, and Georgia. LION has successfully completed dozens of real estate projects in these regions over the past three decades and holds a reputation for excellence in the communities that it serves.
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 (www.activelifestylemedia.com), content creation, and digital marketing, targeted to active adults 55+. Its strategic biotechnology and bioscience related to Human Life Extension seeks opportunities in quality of life businesses that support the aging population, and its Active Lifestyle Development division acquires, manages, and operates commercial and residential real estate and housing development projects. For more information, please visit www.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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