Safe and Green Development Corporation to Acquire MyVonia, a Cutting-Edge AI Asset
07 May 2024 - 11:15PM
Safe and Green Development Corporation (NASDAQ: SGD) (“SG Devco” or
the “Company”) is pleased to announce that it has entered into an
agreement to acquire MyVONIA, an advanced artificial intelligence
(AI) assistant, subject to certain closing conditions. Closing is
expected during the second quarter of 2024. MyVONIA utilizes
machine learning and natural language processing algorithms to
provide users with human-like conversational interactions, tailored
to their specific needs. MyVONIA does not require an app, or
website but is accessible to subscribers via text messaging.
David Villarreal, CEO of Safe and Green
Development Corporation, expressed his excitement about the pending
acquisition, stating, “We are thrilled to be acquiring MyVONIA and
plan to integrate this advanced AI assistant into our operations.
MyVONIA’s cutting-edge technology is expected to not only provide
valuable recurring revenue but to also enhance the user experience
and streamline our processes. We expect that MyVONIA will
eventually seamlessly integrate into our Xene AI Real Estate
Platform allowing us to remain confident in our ability to stay at
the forefront of innovation and offer unparalleled services to our
clients.”
This strategic acquisition aligns with SG
Devco’s mission to drive safe and sustainable development through
innovative technologies. The integration of MyVONIA into the Xene
AI Platform real estate platform is expected to offer immense
potential for realtors. By leveraging MyVONIA’s advanced
capabilities, realtors can receive personalized assistance,
tailored market insights, and data-driven recommendations. This
technology will empower realtors to optimize their decision-making,
increase efficiency, and ultimately provide a superior experience to
their clients.
MyVONIA is currently available for a limited
time on a trial basis to individuals who sign up through the
following link: MyVONIA Power-On. This opportunity will allow a
limited number of individuals to experience MyVONIA firsthand and
become early adopters of this groundbreaking technology.
Under the terms of the agreement, the purchase
price will consist of up to 500,000 shares of SGD restricted common
stock, 200,000 shares will be issued at closing and up to 300,000
shares will be earned and issued if certain milestones are
achieved.
Safe and Green Development Corporation is
dedicated to technological innovation. With this acquisition, SG
DevCo believes it will be poised to continue its growth trajectory
and establish its position as a leading force in the real estate
industry.
About Safe and Green Development
CorporationSafe and Green Development Corporation is
a real estate development company. Formed in 2021, it focuses on
the development of sites using purpose-built, prefabricated modules
built from both wood and steel. The thesis of development is to
build strong, innovative, and green, single or multifamily projects
across all income and asset classes. Additionally, a majority owned
subsidiary of SG DevCo, Majestic World Holdings LLC, is a
prop-tech company that has created the XENE Home Platform. It is
powered by advanced AI technology which aims to decentralize the
real estate marketplace, creating an all-in-one solution that
brings banks, institutions, home builders, clients, agents,
vendors, gig workers, and insurers into a seamlessly integrated and
structured AI-driven environment.
More information about SG DevCo can be found
at www.sgdevco.com.
Safe Harbor StatementThis press
release may contain 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. All
statements other than statements of historical fact are, or may be
deemed to be, forward-looking statements. These forward-looking
statements are based on certain assumptions and analyses made by us
in light of our experience and our perception of historical trends,
current conditions and expected future developments, as well as
other factors we believe are appropriate in the circumstances and
include statements regarding the proposed acquisition of MyVONIA
and the timing thereof, integrating MyVONIA into the Company’s
operations, MyVONIA’s technology providing the Company
recurring revenue, enhancing the user experience and streamlining
the Company’s processes, eventually seamlessly integrating MyVONIA
into Xene AI Real Estate, remaining confident in the Company’s
ability to stay at the forefront of innovation and offer
unparalleled services to its clients, the Company’s mission to
drive safe and sustainable development through innovative
technologies, the integration of MyVONIA into the Xene AI Platform
real estate platform holding immense potential for realtors,
realtors receiving personalized assistance, tailored market
insights, and data-driven recommendations by leveraging MyVONIA’s
advanced capabilities, empowering realtors to optimize their
decision-making, increase efficiency, and ultimately provide a
superior experience to their clients, the Company being poised to
continue its growth trajectory and establish its position as a
leading force in the real estate industry and Xene Home creating an
all-in-one solution that brings banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers into a
seamlessly integrated and structured AI-driven environment.
Statements in this press release that are not strictly
historical in nature are forward-looking statements. Actual events
or results may differ materially from those projected in any of
such statements due to various factors, including the possibility
that the proposed acquisition will not close when expected or at
all; the Company’s ability to integrate MyVONIA into the
Company’s operations, the Company’s ability to generate recurring
revenue from MyVONIA’s technology, enhance the user experience and
streamline the Company’s processes, the Company’s ability to
seamlessly integrate MyVONIA into Xene AI Real Estate, the
Company’s ability to stay at the forefront of innovation and offer
unparalleled services to its clients, the Company’s ability to
provide realtors with personalized assistance, tailored market
insights, and data-driven recommendations by leveraging MyVONIA’s
advanced capabilities, the Company’s ability to empower realtors to
optimize their decision-making, increase efficiency, and ultimately
provide a superior experience to their clients, the Company’s
ability to continue its growth trajectory and establish its
position as a leading force in the real estate industry, the
Company’s ability to attract banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers to join the
Xene Home platform, and the other factors discussed in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2023 and its subsequent filings with the SEC. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement and Safe and Green Development Corporation
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.
For investor relations and media
inquiries, please contact:Barwicki Investor
RelationsAndrew@Barwicki.com516-662-9461
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