JZZ Technologies, Inc., and Oxygen Mortgage Execute LOI for New Real Estate Joint Venture – Yahoo Finance

Anderson, South Carolina–(Newsfile Corp. – November 16, 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 executed a Letter of Intent (LOI) with Oxygen Mortgage and Oxygen Management LTD LLC. (collectively “Oxygen”) to jointly develop a diversified mortgage and real estate development company including real estate purchases, land package and site development, building design and construction, financing, and full-service real estate marketing and sales services.
Pursuant to the LOI, JZZ and Oxygen will create a new Joint Venture (“JV”) in the next 90 days targeting real estate projects in South Carolina initially, and then nationally beginning in 2023. The soon to be named JV has already received investment commitments for an initial project under contract with JZZ Technologies for its first project to be marketed by Oxygen -a multi-unit complex near Clemson University. The total project value will exceed $1 million.
JZZ’s rights in the JV will be site evaluation and selection, land use entitlement, project site development, project financing including non-exclusive debt and equity placement.
Oxygen’s rights in the JV will be:
the appointment of Oxygen as the exclusive Real Estate sales partner for all residential properties across the country; involved in the acquisition, planning, development, and sale of all residential and commercial properties
full-Service Property Management for any portfolio properties for both short term rentals such as AirBnB and long-term rental properties such as single-family homes, condos, townhouses, or larger apartment buildings
Partnership and operation of a full-service affiliated Mortgage Company capable of offering all clients an “in house” mortgage option at the time of purchase. This will also operate perpetually to capture refinance and future resell mortgage opportunities.
a title agency joint venture for land title policies encompassing residential and commercial properties
Charles Cardona, CEO of JZZI, stated, “This new Joint Venture with Oxygen Mortgage is a tremendous opportunity for our two companies. Robert Egeland and his experienced team behind Oxygen Mortgage will give us the capacity to not only source and acquire new real estate projects, but also to handle the entire process through build-to-suit, sales and marketing, along with providing access to financing options for consumers for the projects once they are completed. In other words, we are creating a turnkey system for development that ensures high-quality projects within all aspects of the real estate development cycle in our own eco-system.”
“This is a very direct path for us to create multiple revenue centers for both of our companies from all areas of the real estate development chain. Importantly, it will also allow us to provide quality real estate projects that are a model for development in the communities that we serve,” Cardona added.
JZZ expects to announce further details about this project in the coming weeks as the JV is fully developed and ratified following customary due diligence. JZZ is also actively pursuing similar profile projects, as well as larger-scale projects in South Carolina and Florida.
About Oxygen Mortgage
Based in Boulder, Colorado, Oxygen Mortgage and Oxygen Management LTD. (oxygenmortgage.net) provide full-service mortgage financing for consumers including adjustable and fixed rate loans, FHA, VA and jumbo loans, as well as reverse mortgage financing. Its founder and CEO, Robert Egeland has more than 30 years of experience in building mortgage financing and title companies to success at the national level.
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 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 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.
Press Contacts:
JZZ Technologies, Inc.
Charles Cardona, CEO
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144470
Related Quotes
Yahoo Finance tech editor Dan Howley breaks down Nvidia's third-quarter earnings results.
Energy inflation remains a serious concern. Protect your portfolio.
Wednesday is turning into an unpleasant day for investors in semiconductor stocks as shares of Intel (NASDAQ: INTC), Qualcomm (NASDAQ: QCOM), and Applied Materials (NASDAQ: AMAT) slide in early trading. As of 9:50 a.m. EST, Intel stock is down 2.6%, Qualcomm is selling off 3.6%, and Applied Materials is leading the sector lower with a 4% loss.
The opportunity is there for Coinbase and its ecosystem to be viewed as a better place for doing crypto business.
Yahoo Finance Live’s Seana Smith highlights which stocks are making the biggest moves in after-hours trading.
The Oracle of Omaha knows how to beat inflation. So ride his coattails.
Nio expected a sharp increase in production and deliveries in the fourth quarter, but there are signs that plan could falter.
Michael Burry is a savvy investor. He is one of the legends of Wall Street, which makes him one of those financiers whose every word is followed closely by millions of investors. Investors watch his strategies and the business choices he makes.
Tuesday is turning into a miserable day to own lithium stocks, as shares of Lithium Americas (NYSE: LAC), Livent (NYSE: LTHM), and Albemarle (NYSE: ALB) tumble in response to a negative report on lithium prospects from mining stock analysts at Goldman Sachs. As of 11:15 a.m. ET, Lithium Americas shares are down 3.5%, Livent is off 6.2%, and Albemarle is leading the whole sector lower with an 8.4% loss. Let's start with the good news: According to Goldman Sachs, demand growth for lithium over the past few years has been "massive."
(Bloomberg) — The fallout from the rapid collapse of Sam Bankman-Fried’s FTX is spreading across the crypto world, ensnaring the billionaire Winklevoss twins through a liquidity squeeze at their lending partner, Genesis.Most Read from BloombergUkraine Latest: Biden Says Missile Likely Not Fired From RussiaTrump Makes His 2024 Run Official, Defies Calls to Move OnPoland Says Russian-Made Missile Hit Territory and Killed Two PeopleXi Looks Away From Putin Toward West in Return to World StageFTX C
The super investor is sounding the alarm.
Cisco's solid October quarter results are a positive signal for the enterprise infrastructure market.
John Linehan, who manages $29 billion for T. Rowe Price, is looking to financials, energy and utilities to power the market as interest rates remain high.
Insolvent cryptocurrency exchange FTX could have as many as one million investors who are seeking to recoup their losses. The Bahamian-based brokerage filed for bankruptcy after facing massive liquidity issues when its acquirer, Binance, backed out of a merger. The bankruptcy attorneys for FTX, Landis Rath & Cobb and Sullivan and Cromwell, said on Nov. 15 that the number of creditors could exceed one million, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.
I've learned the hard way that higher-yielding dividend stocks can be higher risk. These companies typically pay out a large percentage of their cash to investors via dividends. That leaves less room for error if market conditions deteriorate, potentially forcing them to reduce their lucrative payouts.
Yahoo Finance Live anchors discuss the decline in stock for Carnival amid the cruise line’s $1 billion convertible debt offering.
Has the stock market bottomed out? Let's look at two stocks worth owning when that happens: Eli Lilly (NYSE: LLY) and Shopify (NYSE: SHOP). Eli Lilly is currently trouncing the market, with its shares up by 29% since the beginning of the year.
In this article, we discuss the 12 most active stocks to buy now. If you want to read about some more active stocks, go directly to 5 Most Active Stocks to Buy Now. The Gross Domestic Product (GDP) of the United States registered modest growth during the third quarter of 2022, per latest figures by […]
The elections are behind us, the latest inflation data showed an easing back in the rate of increase, and markets finished last week with their best trading sessions in months. The signs have aligned for investors to feel good. Or should they? Billionaire investor Carl Icahn believes otherwise, and in a recent interview he laid out the case for the bears. “I am still quite bearish on what is going to happen. A rally like this is of course very dramatic to say the least, but you have them all the
Cryptocurrency brokerages Gemini and Genesis are reassuring people that their operations are still solvent after the massive collapse of exchange FTX. The insolvency of FTX could result in more companies in the industry facing severe liquidity issues, including crypto exchanges and lenders. "We are working with the Genesis team to help customers redeem their funds from the Earn program as quickly as possible," Gemini said in a tweet.


Leave a Comment