Alliance Creative Group (ACGX)
Retired Outstanding Convertible Debt and Continues Transition
Towards New Focus
The Company Is Heading in a New
Direction with an Increased Focus on a Shared Resource Business
Model
Chicago, IL -- February 27, 2023 -- InvestorsHub
NewsWire -- Alliance Creative Group, Inc., (http://ACGX.us
and http://www.AllianceCreativeGroup.com)
(Stock
Symbol OTC: ACGX) is pleased to announce the Company has
retired its remaining convertible debt note and some of the
preferred convertible shares. The company repurchased the
above-mentioned note and shares to remove the last of the
convertible debt on the books and leave just the remaining Series H
preferred convertible equity shares.
As of December
31, 2022 the Company entered into multiple agreements to divest and
acquire specific assets and liabilities and add and remove certain
Board of Directors and Advisors. The full disclosure is
listed on the OTC Markets under disclosures.
Moving forward,
if the Company is able to implement its new business plans and
subject to favorable market conditions, the Company seeks to
operate as a holding company. The Company believes that this may
allow the Company to gain the benefits that may serve a "shared
resource strategy" whereby its subsidiaries and real estate
investments may gain the benefits of vertical integration with the
opportunity to achieve operating efficiencies and cost savings. If
these efforts are successful, the Company anticipates that it may,
subject to market conditions, acquire additional real estate assets
with a focus on special situations and distressed assets as well as
other revenue producing asset opportunities.
In addition and
as a secondary strategy, the Company may seek to acquire or
originate secured loans and, if circumstances allow, to invest
funds in and/or acquire majority control in early-stage companies,
if market conditions and opportunities allow. If the Company is
successful in these strategies, the Company anticipates that it may
allow it to better utilize its planned shared resource model.
Overall, the
Company believes that it has the managerial skills and
relationships that may allow it to successfully implement its
strategies if it can successfully identify and acquire appropriate
acquisition targets, deploy its managerial resources effectively
and, if market conditions allow. If these goals can be achieved,
then the Company believes that its shared resources strategy may
allow the Company to manage its subsidiaries more efficiently and
identify appropriate secured lending opportunities with reduced
expenses. If these goals can be achieved, the Company may be able
to own a diversified portfolio of businesses and investment
projects with resulting diversification and lower risk in both the
private and public markets.
Currently the
Company owns a sixteen unit corner walk-up, mixed-use building on
the border of the Edgewater and Rogers Park neighborhoods of
Chicago, Illinois. The Company also acquired all of the outstanding
membership interests and manager interests of Peak Construction
Group, LLC and The Company also currently owns an aggregate of
1,682,188 shares of PeopleVine, Inc. and the Company holds one seat
on the Board of Directors of PeopleVine, Inc.
Paul Sorkin, CEO of the Alliance
Creative Group, Inc. said, "Our current team is very excited about
the new foundation we have created. We have been involved in
multiple conversations with what we believe to be potentially
beneficial investments and portfolio companies to better leverage
our relationships and resources to pursue additional future
opportunities. We are also adding multiple advisors that we
believe will add valuable insight, information, and access to other
opportunities. The overall economy is still very volatile and
most industries are still dealing with significant
challenges. However, we believe the best opportunities are
created during the most challenging times and our goal is to build
out a team with significant resources to position ourselves to find
and help add value to well synergized opportunities. We are
still updating the website www.ACGX.us and
will begin to share more on Twitter at https://twitter.com/ACGsocial
and other social media platforms as things progress."
About
Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock
Symbol: ACGX) is a Parent Holding Company
on the OTC market. The strategy ACG intends to deploy is a shared
resource model where portfolio companies and real estate
investments are vertically integrated, optimizing efficiencies and
cost savings ACG will apply roughly 80% of capital raised towards
diversified classifications of real estate with a strong focus on
distressed assets and healthcare. The company's distressed
value-add projects may consist of healthcare facilities,
warehouses, student housing, multifamily, conversions, flips and
other opportunities.
The remaining
20% may be applied to a mix of early stage equity investments in
companies that synergize with the company's shared resource model
and secured lending opportunities.
ACG's
strategic mission is to utilize a unique blend of capital,
relationships, experience, and secured lending structures to
increase value for its clients, partners, investors, and
shareholders while reducing the overall risk.
The company's
big picture long term plan is to create an ecosystem of shared
resources that can provide quality resources with reduced expenses
while acting as a secured lender for internal projects. The intent
is to have multiple businesses and investment projects or divisions
to help diversify the risk and generate potential revenue in
multiple ways while leveraging both the private and public
markets. For more information, visit www.AllianceCreativeGroup.com
or www.ACGX.us.
About
PeopleVine
PeopleVine is a
Software as a Service (SAAS) company that specializes in serving
the Lifestyle Hospitality industry. The Member Experience
& CRM Software allows luxury hotels, resorts, and private
member clubs to elevate a more personalized online membership
experience. PeopleVine helps their clients build member
communities, drive engagement, and connect the dots that elevate
experiences and revenues. The software empowers its clients
teams to deliver efficiently managed operations through an
integrated platform.
PeopleVine is
committed to being the most essential and adaptive SaaS engagement
platform for companies that take a customer centric approach to
business.
For more
information www.PeopleVine.com
This news release contains forward-looking statements as defined by
the bespeaks-caution doctrine. Forward-looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
described in statements filed from time to time with the Securities
and Exchange Commission. All such forward-looking statements,
whether written or oral, and whether made by or on behalf of the
Company, are expressly qualified by the cautionary statements that
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
Investor Relations and Media
Contact
1-312-498-9769
info@ACGemail.com