Business
Lighthouse Global Holdings Inc. Completes Acquisition of PROJAGG Platform in an All Stock Transaction
Lighthouse Global Holdings Inc. Completes Acquisition of PROJAGG Platform in an All Stock Transaction.
About this update from Lighthouse Global Holdings Inc.
[{"type":"text","content":"NEVADA, November 2, 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 completed the acquisition of PROJAGG Platform, a sharing economy cloud platform powered by Blockchain Smart Contracts technology for $5.85 million in restricted common stock at the price of $.045. In connection with this transaction 130,000,000 shares of restricted common stock were issued to 4 parties in exchange for 100% ownership of the PROJAGG Platform, together with its pipeline of projects worth $300 million.Danny Lim of Lighthouse Global said, “the completion of the PROJAGG platform acquisition in a stock only transaction should signal to shareholders, the management’s commitment to advance the business. By consummating this deal we were also able to deliver on our promise to generate $15 million in revenue over the next 5 years. Based on the uptick in business development efforts, it gives me great pleasure to announce our plan to start at least 6 projects within the next 12 months. Our initial responses from some developers have indicated that they saw great value in having us train them on our platform, creating a potential means for generating additional revenues for the company. We are excited to share more details on these secondary revenue opportunities in the coming weeks.”Now that the acquisition is completed, Lighthouse will set up a wholly owned subsidiary called Projagg LLC in the United States, and establishes its 1,200 sq ft Asia HQ Facility Training Center in Singapore, specifically to train Projagg Facilitators. This Intensive 3 months Training Course fee per participant is US$6,300 and we expect to enrol the first batch of 20 potential professionals by the end of the year to facilitate the multimillion dealmaking process.Danny reiterated, “this is a key milestone for LHGI as it demonstrates to project developers, land owners, and the funding community, our long-term viability as a company. The training center is a key piece of our go forward strategy as these Projagg Facilitators become an integral player to accelerate our growth. The trained Facilitators, equipped with effective communication skills, will be ou...