{"id":515027,"date":"2021-07-20T08:33:27","date_gmt":"2021-07-20T12:33:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-issues-real-estate-lien-note-on-lago-vista-site\/"},"modified":"2021-07-20T08:33:27","modified_gmt":"2021-07-20T12:33:27","slug":"sgb-development-corp-issues-real-estate-lien-note-on-lago-vista-site","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-issues-real-estate-lien-note-on-lago-vista-site\/","title":{"rendered":"SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site <\/b><\/p>\n<p class=\"bwalignc\"><i>Company will use net loan proceeds of $1,958,233 for development projects <\/i><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>SG Blocks, Inc.<\/b> (NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of modular structures, announced today that SGB Development Corp., a subsidiary of SG Blocks, Inc. executed a real estate lien note in the principal amount for $2,000,000 on its 50+ acre Lago Vista project, located outside of the greater Austin, Texas area. The net loan proceeds, after fees, are $1,958,233, and will be used for growth capital for SGB Development Corp. projects.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210720005318\/en\/892373\/4\/SGBX_Lago_Vista.jpg\" alt=\"SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site. (Photo: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site. (Photo: Business Wire)<\/p>\n<\/div>\n<p>\nThe Note has a term of one year and provides for payments of interest only at a rate of twelve percent annum and may be prepaid without penalty commencing nine months after its issuance date.\n<\/p>\n<p>\n\u201cWe are happy to use the debt markets to leverage our investments and greater SGB Development Corp. projects,\u201d Paul Galvin, Chairman and CEO of SG Blocks noted. \u201cWe remain very excited about the Lago Vista project and greater Austin community, and will continue to explore non-dilutive ways to increase growth capital within our SG Blocks ecosystem.\u201d\n<\/p>\n<p>\nThe Company will provide further updates as the project site in Lago Vista advances.\n<\/p>\n<p><b>About SG Blocks, Inc.<\/b><\/p>\n<p>\nSG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel\u2122, the structural core and shell of an SG Blocks building, and then is customized to client specifications. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sgblocks.com&amp;esheet=52462391&amp;newsitemid=20210720005318&amp;lan=en-US&amp;anchor=www.sgblocks.com&amp;index=1&amp;md5=2eca4c17dc9f7a60700e1474a1ac25da\">www.sgblocks.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Safe Harbor Statement<\/span><\/b><\/p>\n<p>\nCertain statements in this press release constitute &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws. Words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;predict,&#8221; &#8220;forecast,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;intend&#8221; or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding plans to use the net loan proceeds from the loan for SGB Development Corp. projects and plans provide further updates as the project site in Lago Vista advances. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company\u2019s ability to develop its SGB Development Corp. projects as planned, the Company\u2019s ability to position itself for future profitability, the Company\u2019s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210720005318r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/<\/a><\/span><\/p>\n<p><b>Investors:<br \/>\n<\/b><br \/>Stephen Swett<br \/>\n<br \/>(203) 682-8377<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@sgblocks.com\">investors@sgblocks.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Other Construction &amp; Property Residential Building &amp; Real Estate Commercial Building &amp; Real Estate Finance Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210720005318\/en\/892372\/3\/SGBX_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210720005318\/en\/892373\/3\/SGBX_Lago_Vista.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site Company will use net loan proceeds of $1,958,233 for development projects NEW YORK&#8211;(BUSINESS WIRE)&#8211;SG Blocks, Inc. (NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of modular structures, announced today that SGB Development Corp., a subsidiary of SG Blocks, Inc. executed a real estate lien note in the principal amount for $2,000,000 on its 50+ acre Lago Vista project, located outside of the greater Austin, Texas area. The net loan proceeds, after fees, are $1,958,233, and will be used for growth capital for SGB Development Corp. projects. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/ SGB Development Corp. Issues Real Estate &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-issues-real-estate-lien-note-on-lago-vista-site\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-515027","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-issues-real-estate-lien-note-on-lago-vista-site\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SGB Development Corp. Issues Real Estate Lien Note on Lago Vista Site Company will use net loan proceeds of $1,958,233 for development projects NEW YORK&#8211;(BUSINESS WIRE)&#8211;SG Blocks, Inc. (NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of modular structures, announced today that SGB Development Corp., a subsidiary of SG Blocks, Inc. executed a real estate lien note in the principal amount for $2,000,000 on its 50+ acre Lago Vista project, located outside of the greater Austin, Texas area. The net loan proceeds, after fees, are $1,958,233, and will be used for growth capital for SGB Development Corp. projects. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210720005318\/en\/ SGB Development Corp. Issues Real Estate &hellip; Continue reading &quot;SGB Development Corp. 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