DALLAS, June 5, 2013 /PRNewswire/ -- LIG Assets,
Inc. (OTCPK: LIGA), a Company focused on residential and commercial
real estate, is proud to announce the following updates that will
allow the Company to grow substantially:
- A new office has been opened near Austin, Texas and a lease has been signed for
LIG Assets, Inc. The office has been staffed to focus on
additional real estate related transactions and deal flow.
This office already identified numerous lucrative real estate deals
that are expected to produce a profitable revenue stream, and LIG
Assets expects to announce deal flow originating from this office
in the near term.
- The Strategic Alliance with Texas Real Estate Hedge Fund, MMR
Realty Advisors, and InterContinental Real Estate Partners
continues to gain strength and is actively involved in several
large commercial real estate opportunities. LIG Assets has
also established additional relationships with hedge funds that
could act to provide significant funding and purchasing power for
commercial projects.
- LIG Assets has been approved for a new line of credit for
$1 million from Streamline Funding of
Austin, TX. Funds are to be
used specifically towards the acquisition and renovation of real
estate assets. LIG Assets plans to earmark these funds to
further grow its residential portfolio from new deal flow
originating from the new office and Dallas office that is unrelated to the
Strategic Alliance. This credit line is expected to increase
substantially in the near future.
- A few months ago, LIG Assets acquired majority interest in
another public Company that is now named South American Properties,
Inc. (OTCPK: SAMP) to focus on real estate transactions outside the
United States. LIG Assets plans to issue a stock dividend of
common shares of SAMP to LIGA shareholders.
- The contract to acquire the hotel casino in Cripple Creek, Colorado has
advanced. More specific details regarding the property,
numbers, and closing are forthcoming within days. This is a
considered a milestone transaction and is expected to greatly
benefit LIG Assets and its shareholders.
CEO Jeff Love stated, "We
appreciate the continued patience from our shareholders while we
position the Company for success. I firmly believe our deal
flow and current projects support the valuation referenced in a new
report issued by Goldman Small Cap Research last month, and that
our current market capitalization reflects only a small fraction of
our net asset base and potential profits."
About LIG Assets, Inc.
LIG Assets, Inc., (OTCPK: LIGA) based in Dallas, TX, is a Company focused on
residential and commercial real estate. Through our Strategic
Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors,
and InterContinental Real Estate Partners, LIG Assets will expand
its focus on multifamily, retail, hotel, and office properties with
valuations between $3 and $100
million. LIG Assets, Inc. (OTCPK: LIGA) trades on the pink
sheets under the ticker symbol "LIGA". For additional information,
please visit LIG Asset's corporate website:
www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking
statements. The words "believe," "expect," "should," "intend,"
"estimate," "projects," variations of such words and similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not a forward-looking statement.
These forward-looking statements are based upon the Company's
current expectations and are subject to a number of risks,
uncertainties and assumptions. The Company undertakes no obligation
to update any forward-looking statements, whether as a result of
new information, future events or otherwise. Among the important
factors that could cause actual results to differ significantly
from those expressed or implied by such forward-looking statements
are risks that are detailed in the Company's filings and
disclosures at www.OTCmarkets.com.
Media Contact: Jason Kinchion
LIG Assets, Inc.
Phone: (214) 760-1000
SOURCE LIG Assets, Inc.