Under the Symbol:
FAVO Realty Inc. Announces That the Shareholders of RLT Atwood International Ltd. (Listed on the MERJ Exchange) Have Agreed to the Terms of The Merger Agreement With FAVO Realty Inc., Originally Announced On May 7, 2019
Wednesday, May 29, 2019 4:18 PM
The Merger is Expected to Close Within 10 Days. The Company's New Website Will Be Launched Simultaneously with the Closing.
Additional Senior Managers & The Advisory Board Will Be Announced On or Before the Closing.
Post-Merger FAVO Realty Inc's Shareholder Base Will Increase to Approximately 200 Shareholders.
The Company Will Thereafter Achieve Non-Shell Status & Hire an Independent Auditor to Audit the Past Two Years' Financial Statements and FAVO Will Seek to Uplist From the Pink Sheets to the OTCQB Markets.
FAVO Realty Inc. Will Focus on Acquiring a Diversified Portfolio of Quality Commercial Real Estate (CRE) Assets and RLT will Rebrand Under the Name "FAVO Blockchain Inc."
GARDEN CITY, NY /
ACCESSWIRE / May 29, 2019 / FAVO REALTY, INC (OTC PINK: "FAVO"), a real estate investment company, is pleased to announce today that RLT Atwood International Limited LTD's ("RLT" - Incorporated in the Republic of Seychelles on 12 April 2018; ISIN: SC2767HDIH83) shareholders have voted to be acquired in a $2.812 million stock swap transaction with FAVO Realty Inc. FAVO will issue approximately 6,000,000 new shares based on the 30 day Volume Weighted Average Price (VWAP) on closing. The transaction is expected to close within 10 days of the date hereof. Pursuant to the closing FAVO intends to conduct a financial audit and seek to uplift to the OTCQB Market.
Vincent Napolitano, the Founder and CEO of FAVO Realty Inc, stated, "I am really excited about this acquisition and it is another step in building long-term value for FAVO shareholders." Vincent added "While FAVO is a commercial real estate company first and foremost and real estate will always be our core focus. I am very pleased to see the recent action in cryptocurrencies. We look at crypto mining as a value add and very similar to triple net real estate. If we turn the CPU's on in a data center who will manage it for us, we could collect rent 24/7, 365 days per year."
FAVO also intends to seek a good working relationship with the MERJ Exchange Ltd. Mr. Napolitano added "As FAVO attempts to grow into a global real estate platform it is important that we are well represented in the Africa, Middle East and Asian countries."
PKF Indian Ocean and MERJ Exchange Ltd. (formerly known as TROP-X/Seychelle Securities Exchange) acted as independent advisors to RLT and McMurdo Law Group, LLC as Legal Advisors to FAVO Realty Inc.
More About FAVO Realty
FAVO REALTY, INC is a real estate investment company which intends to invest in a diversified portfolio of quality commercial real estate properties and other real estate investments located throughout the United States and Puerto Rico. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO Realty Inc. intends to be Efficient, Flexible & Durable.
More About MERJ
The MERJ Exchange was incorporated in the Republic of Seychelles in 2011 and received a license from the Financial Services Authority (FSA) in 2012. They operate a vertically integrated fully electronic securities exchange. They offer clearing and settlement in multiple global currencies including the USD, EUR, GNP, SCR & ZAR. They are a Correspondent Member of the World Federation of Exchanges (WFE) and a Full Member of the African Securities Exchange Association (ASEA).
More About RLT Atwood
RLT Atwood Ltd. Is the world's first vertically integrated listed investment blockchain management company. Headquartered in Eden Island, Seychelles as a registered publicly traded investment option that manages a fully diversified, alternative Blockchain investment portfolio and they are pioneers in decentralized systems.
More on FAVO GROUP,
FAVO GROUP, LLC is the External Manager of FAVO Realty Inc. (FAVO - OTC Markets). They were founded by a Group of Real Estate and Capital Market professionals with over 100 years of collective experience and have transacted in over $6 billion of Real Estate related transactions.
Email: [email protected]
SOURCE: FAVO Realty, Inc and FAVO Group, LLC