Anderson, South Carolina--(Newsfile Corp. - October 18, 2022) - JZZ Technologies Inc., (OTC Pink: JZZI) ("JZZ" or the "Company"), a diversified company focused on digital media, biotechnology acquisitions related to human life extension longevity and active lifestyle real estate development, and its subsidiary LION Development Group, have entered a non-exclusive Joint Venture agreement with AJ Developments Group, LLC an affiliate of Hospitality Development Group, Inc. ("HDG"), a Ft. Lauderdale, Florida-based real estate development company.
The JV has been formed to develop multiple residential and commercial real estate projects, initially in South Carolina and Florida, and then expanding to surrounding regions in the south eastern United States.
Hospitality Development Group is a development company specializing in hotel, resort, and residential developments. HDG also provides advisory and consulting services for all various real estate development needs. In addition, HDG may also assist securing commercial debt and equity financing for projects it pursues.
The driving force behind HDG is developer Jerrold R. Krystoff whose development experience includes hospitality, high-rise residential, commercial, and retail and healthcare, with over $2 billion dollars in various development projects. Mr. Krystoff is a seasoned real estate entrepreneur and developer in Florida and has been participating in various real estate investments and developments since 1979. He is the Chairman, CEO, and Co-Founder and Principal of Hospitality Development Group, Inc., established in 1998. Mr. Krystoff was also a co-founder and Principal of Colonial Development Group LLC, the developer of various prestigious projects including the W Fort Lauderdale Hotel and Residences, Infinity at Brickell, and Europa by The Sea.
Commenting on the JV, Charles Cardona, CEO of JZZ Technologies, Inc., stated, "Joining with Hospitality Development Group and Jerry Krystoff is a major step forward for our Company's young real estate development division. It immediately elevates us to a whole new level of capacity and brings impressive credentials to our projects that can only be gained from decades of successful development projects, in many cases on a massive scale."
"We look forward to launching new projects as we consummate our plans with HDG. We expect to begin the rollout of several premiere projects over the next four quarters. Ultimately, this Joint Venture is expected to add significant revenues from small-to-large scale projects that will offer solid profits aimed at delivering excellent shareholder value," Cardona adds.
About Hospitality Development Group, Inc.
Hospitality Development Group is a Florida development company with a successful history of hotel, resort, and residential projects. HDG's principals' involvement spans a wide range of prestigious projects including the W Fort Lauderdale Hotel and Residences, Infinity at Brickell, Palazzo Del Lago Resort, Lake Buena Vista Factory Stores, and Europa by The Sea. HDG also provides advisory and consulting services and assists in securing commercial debt and equity financing for select projects.
About JZZ Technologies, Inc.
JZZ Technologies, Inc. is a diversified company engaged in several business sectors. Its Active Lifestyle Digital media business includes online media and apps (www.activelifestylemedia.com), content creation, and digital marketing, targeted to active adults 55+. Its strategic biotechnology and bioscience related to Human Life Extension seeks opportunities in quality of life businesses that support the aging population, and its Active Lifestyle Real Estate Development division is engaged in acquiring, managing, and operating commercial and residential real estate and housing development projects. For more information, please visit www.jzztechnologies.com.
Press Contacts:
JZZ Technologies, Inc.
Charles Cardona, CEO
ceo@jzztechnologies.com
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
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