MIAMI, July 22,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco" or the "Company") is thrilled
to announce their participation in the $400M Pigmental Studios Development project set
in St Mary's, coastal Georgia.
While the property is currently in the process of closing, SG Devco
is committed to collaborating closely with Pigmental Studios to
ensure the success of this groundbreaking endeavor.
The Pigmental Studios Development project is intended to impact
the entertainment industry by providing state-of-the-art
infrastructure and resources for the production of high-quality
media content in the live action, visual effects, animation, and
immersive storytelling experiences. SG Devco will bring their
expertise in sustainable construction practices, aligning with
Pigmental's vision for this development project.
David Villarreal, CEO of SG
Devco, expressed his excitement about this collaboration, stating,
"We are honored to participate with Pigmental Studios in this
venture. As a significant part of the team, we will participate in
creating this world-class production studio that will not only
contribute to the growth of the entertainment industry in
Georgia but specifically
prioritize sustainability. This collaboration showcases the strong
working relationship we have built with Pigmental and our shared
commitment to responsible excellence."
Marina Martins, CEO of Pigmental
Studios, also shared her enthusiasm for the collaboration, saying,
"Adding SG Devco to our team is a crucial step towards realizing
our vision for the Pigmental Studios Development. With SG Devco's
experience in sustainable practices, we are confident that this
project will set thoughtful standards in the industry. We are
excited to work together to provide a viable, sustainably aesthetic
and collaboratively functional campus for artists and
storytellers."
As the collaboration between SG Devco and Pigmental Studios
continues to flourish, both companies look forward to the eminent
commencement of construction for the Pigmental Studios Development.
Stay tuned for further updates on this exciting collaboration.
About Safe and Green Development Corporation (SG
Devco)
Safe 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. MyVONIA Innovations LLC, a wholly own subsidiary, is
the owner of MyVONIA which is an AI-powered personal assistant
designed to help simplify daily tasks and improve productivity for
individuals and businesses. MyVONIA aims to assist with managing
both personal and professional tasks.
About Pigmental Studios:
Pigmental Studios is a visionary production company dedicated to
pushing the boundaries of creative immersive storytelling. By
nurturing talented storytellers, artists and technicians, Pigmental
Studios creates captivating experiences that captivate worldwide
audiences, transporting them to extraordinary universes. By
combining immersive technology, artistry, and storytelling,
Pigmental Studios is the leading edge of the creative focused
entertainment industry.
Safe Harbor Statement
This 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. In some
cases, forward-looking statements can be identified by terminology
such as "may," "should," "potential," "continue," "expects,"
"anticipates," "intends," "plans," "believes," "estimates," and
similar expressions, and include statements regarding collaborating
closely with Pigmental Studios to ensure the success of the
Pigmental Studios Development project in St Mary's, Georgia while the closing of the property sale
is pending, the Pigmental Studios Development project impacting the
entertainment industry by providing state-of-the-art infrastructure
and resources for the production of high-quality media content in
the live action, visual effects, animation, and immersive
storytelling experiences, creating a world-class production studio
that will not only contribute to the growth of the entertainment
industry in Georgia but
specifically prioritize sustainability, the project setting
thoughtful standards in the industry with SG Devco's experience in
sustainable development practices, working together to bring
creative ideas to life and provide a viable, sustainably aesthetic
and collaboratively functional campus for artists and storytellers
from around the world, working with the Development team led by
Holder Properties, based on design work by architects, Gensler, to
fulfill the joint mission of creating a nature forward,
technologically cutting-edge production studio, the eminent
commencement of construction for the Pigmental Studios Development
and providing further updates on the collaboration with Pigmental
Studios.
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. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to commence
construction and work together with Pigmental Studios to complete
the development of the Pigmental Studios Development project
in St Mary's, Georgia as planned,
the ability of the Pigmental Studios Development project to impact
the entertainment industry, the Company's ability to contribute to
the growth of the entertainment industry in Georgia by creating a world-class production
studio and prioritizing sustainability, the Company's ability to
provide a viable, sustainably aesthetic and collaboratively
functional campus for artists and storytellers from around the
world, the Company's ability to obtain the capital necessary to
fund its activities, the Company's ability to attract relevant
stakeholders to join the project, the Company's ability to monetize
its real estate holdings, and 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 the Company
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.
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SOURCE Safe and Green Development Corporation