MIAMI, Oct. 24,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (Nasdaq: SGD) ("the Company") today is pleased to
announce that it has received formal notice from The Nasdaq Stock
Market LLC ("Nasdaq") confirming that the Company has regained
compliance with Nasdaq's minimum bid price requirement under
Listing Rule 5550(a)(2).
"We are pleased to have regained compliance with Nasdaq's
listing standards, which reflects our commitment to enhancing
shareholder value and ensuring the long-term growth of the
Company," said David Villarreal,
Chief Executive Officer of Safe and Green Development Corporation.
"We will continue to focus on executing our strategic initiatives
and delivering sustainable results for our investors."
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses on the development
of sites using purpose-built, prefabricated modules built from both
wood and steel. The thesis of development is to build strong,
innovative and green, single or multifamily projects across all
income and asset classes. Additionally, a majority owned subsidiary
of SG DevCo, Majestic World Holdings LLC, is a prop-tech
company that has created a real estate AI Platform. The Platform
aims to decentralize the real estate marketplace, creating an
all-in-one solution that brings banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers into a
seamlessly integrated and structured AI-driven environment. MyVONIA
Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA
which is an AI-powered personal assistant designed to help simplify
daily tasks and improve productivity for individuals and
businesses. MyVONIA aims to assist with managing both personal and
professional tasks.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended
and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact are or may
be deemed to be forward-looking statements. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates" and similar expressions
and include statements regarding enhancing shareholder value and
ensuring the long-term growth of the Company, executing our
strategic initiatives and delivering sustainable results for our
investors and creating an all-in-one solution that brings banks,
institutions, home builders, clients, agents, vendors, gig workers,
and insurers into a seamlessly integrated and structured AI-driven
environment.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to deliver and sell
its homes in South Texas as
planned, the Company's ability to create an all-in-one solution
that brings banks, institutions, home builders, clients, agents,
vendors, gig workers, and insurers into a seamlessly integrated and
structured AI-driven environment, the Company's ability to obtain
the capital necessary to fund its activities, the Company's ability
to monetize its real estate holdings, and other factors discussed
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2023, and its subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. All forward-looking statements are qualified in
their entirety by this cautionary statement, and the Company
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.
For investor relations and media inquiries, please contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation