Business
LHGI announces the acquisition of a Sharing Economy Platform, “PROJAGG” for the Development market.
LHGI announces the acquisition of a Sharing Economy Platform, “PROJAGG” for the Development market..
About this update from Lighthouse Global Holdings Inc.
[{"type":"text","content":"NEVADA, July 17, 2018 -- LIGHTHOUSE GLOBAL HOLDINGS, INC. (OTC: LHGI), a diversified holdings company in the real estate development, property industry and disruptive technology for more efficient and effective performance leveraging on innovative solutions, announced today that the Company has approved the acquisition of PROJAGG Platform, a sharing economy coupled with blockchain technology for $5.85 million to target the huge $9.2 trillion development market by 2025. It will be acquired with $900,000 in cash and $4.95 million in restricted shares.\"We have selected to acquire PROJAGG as it already has $300 million worth of projects in its pipeline. We expect to be able to generate $15 million in revenue over the next 5 years with these 3 projects. On top of that, it comes with thousands of database of the funding community, vendors and suppliers, professionals like architects, engineers, and legal consultants.The CEO of Lighthouse Global, Mr Danny Lim commented; “We are very positive about this acquisition and expect it to reap us many multiples as we place more projects onto this PROJAGG Platform. We are convinced this acquisition will greatly enhance the stock value of LHGI in the long term as we have the intention to spin off PROJAGG to NASDAQ in 5 years.”“We believe that, along with our continued execution of our business plan and acquisitions, we can provide benefit to all our stockholders by improving liquidity and increasing the appeal of our stock to institutional investors. With LHGI generating revenue for this coming Quarters, we felt this acquisition is essential and beneficial to all shareholders in the near future.”---------------------------","length":2133,"tagName":"div"}]