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JV Group, Inc. (OTC MARKETS:ASZP) Announces Plans to Acquire Casamora Resort Assets
JV Group, Inc. (OTC MARKETS:ASZP) Announces Plans to Acquire Casamora Resort Assets.
About this update from Awaysis Capital Inc.
[{"type":"text","content":"\n\n\n\nJV Group, Inc. (OTC MARKETS:ASZP) Announces Plans to Acquire Casamora Resort Assets\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nJV Group, Inc. (OTC MARKETS:ASZP) Announces Plans to Acquire Casamora Resort Assets\nPR Newswire\nFORT LAUDERDALE, Fla., May 14, 2022\n\n\n\nFORT LAUDERDALE, Fla., May 14, 2022 /PRNewswire/ -- Publicly held JV Group, Inc. (OTC MARKETS: ASZP) announces the signing of a definitive agreement to purchase real estate property held by Abraxas Corporation with an estimated fair market value (FMV) of $5.5 million USD.\nUnder the terms of the agreement, which was unanimously approved by the board of directors of both companies, JV Group will purchase Abraxas's real estate portfolio as part of the initial acquisition of the Casamora Resort group of assets. In connection with this transaction, Abraxas Corporation shareholders agree to accept a portion of the purchase price in shares of JV Group at market price on the date of the updated appraisal.\nJV Group's purchase of Abraxas's real estate assets are subject to customary closing conditions and is expected to close in the current Quarter. This acquisition will provide an immediate revenue stream  and will provide significantly to the company's asset base, adding an estimated 8 residential units and a commercial complex that is expected to include a premiere health and wellness spa, a fully-serviced flexible co-working lounge and a private social club with roof top patio, into the company's planned rental and development portfolio.\nAs the first planned acquisition in the Country of Belize, management believes that these Casamora Resort assets fit perfectly with the company's strategy of creating a robust network of residential enclave communities in the Caribbean.\nAbout JV Group, Inc.:JV Group Inc. is a real estate investment and management company focused on creating value through targeting and acquisition of undervalued operating and shovel ready residential resort properties, development, and rebranding under the \"Awaysis\" Brand to create a network of residential resort enclav...