Captiva Verde Announces Documentation of Sage Ranch Environmental Impact Report and Private Placement
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2019) - Captiva Verde Land Corp. (CSE: PWR) (the "Company"), is pleased to announce that it has received 4-0 approval from the Planning and Zoning Commission in California for its 1,042 unit $350 Million subdivision. The Company and its JV partner, Greenbriar Capital Corp, is in advanced discussions with the US Air Force to lease the 1,042 units to the military for the members and families of its civilian, military and contractor workforce at Edwards Air Force Base and related facilities.
Once completed, Sage Ranch will comprise 1.7 Million finished square feet of eight (8) different housing types and if leased to the USAF in its entirety, generate between $850,000 to $1,700,000 per month in discretionary post-tax cash flow for the JV.
To pay for the completion of the engineering work Captiva has negotiated a fully subscribed Private Placement of 3 Million units at $0.20 per unit. Each unit comprises one share and one half share purchase warrant enabling each full warrant to buy an additional share at $0.35 per share for a period of 12 months. The issuance is subject to regulatory approval and will have a four (4) month hold period.
On Behalf of the Board of Directors
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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