DALLAS, June 5, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a Company focused on residential and commercial real estate, is proud to announce the following updates that will allow the Company to grow substantially:
- A new office has been opened near Austin, Texas and a lease has been signed for LIG Assets, Inc. The office has been staffed to focus on additional real estate related transactions and deal flow. This office already identified numerous lucrative real estate deals that are expected to produce a profitable revenue stream, and LIG Assets expects to announce deal flow originating from this office in the near term.
- The Strategic Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors, and InterContinental Real Estate Partners continues to gain strength and is actively involved in several large commercial real estate opportunities. LIG Assets has also established additional relationships with hedge funds that could act to provide significant funding and purchasing power for commercial projects.
- LIG Assets has been approved for a new line of credit for $1 million from Streamline Funding of Austin, TX. Funds are to be used specifically towards the acquisition and renovation of real estate assets. LIG Assets plans to earmark these funds to further grow its residential portfolio from new deal flow originating from the new office and Dallas office that is unrelated to the Strategic Alliance. This credit line is expected to increase substantially in the near future.
- A few months ago, LIG Assets acquired majority interest in another public Company that is now named South American Properties, Inc. (OTCPK: SAMP) to focus on real estate transactions outside the United States. LIG Assets plans to issue a stock dividend of common shares of SAMP to LIGA shareholders.
- The contract to acquire the hotel casino in Cripple Creek, Colorado has advanced. More specific details regarding the property, numbers, and closing are forthcoming within days. This is a considered a milestone transaction and is expected to greatly benefit LIG Assets and its shareholders.
CEO Jeff Love stated, "We appreciate the continued patience from our shareholders while we position the Company for success. I firmly believe our deal flow and current projects support the valuation referenced in a new report issued by Goldman Small Cap Research last month, and that our current market capitalization reflects only a small fraction of our net asset base and potential profits."
About LIG Assets, Inc.
LIG Assets, Inc., (OTCPK: LIGA) based in Dallas, TX, is a Company focused on residential and commercial real estate. Through our Strategic Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors, and InterContinental Real Estate Partners, LIG Assets will expand its focus on multifamily, retail, hotel, and office properties with valuations between $3 and $100 million. LIG Assets, Inc. (OTCPK: LIGA) trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Asset's corporate website: www.ligassetsinc.net.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings and disclosures at www.OTCmarkets.com.
Media Contact: Jason Kinchion
LIG Assets, Inc.
Phone: (214) 760-1000
SOURCE LIG Assets, Inc.