ST. PETERSBURG, FL, Nov. 07, 2019 (GLOBE NEWSWIRE) -- Sylios Corp (OTC Pink: UNGS), a holding corporation, which through its subsidiaries, has operations engaged in the exploration and development of oil and natural gas properties, purchase of royalty and working interest units in producing properties (oil and natural gas) and alternative land development projects is pleased to inform shareholders that it has closed on the acquisition of a commercial tract of land in Santa Rosa County, Florida..
On October 12, 2019, the Company entered into a Commercial Sales Contract for the purchase of a 1.1-acre tract of undeveloped commercial land located in Santa Rosa County, Florida, more specifically Milton, Florida. The transaction closed on November 1, 2019.
The Company has targeted this particular tract of land as a possible site for the development of its second self-storage facility. The land is surrounded by high growth in the medical industry and housing developments.
5496 NRMF, LLC
On October 10, 2019, the Company elected to form a new operating subsidiary to manage the Company’s development of its commercial property located in Santa Rosa County, Florida. The Board of Directors approved the formation of a new subsidiary named 5496 NRMF, LLC. The Company filed Articles of Organization with the State of Florida Division of Corporations on October 16, 2019 with an effective date of October 12, 2019. The new entity is a wholly owned subsidiary of the Company.
The company also wishes to notify all shareholders and persons of interest that Sylios Corp will be making announcements and updates via social media. Updates can be found at our newly created social media channel on Twitter: https://www.twitter.com/Sylios_Corp.
About Sylios Corp
Sylios Corp, based in St. Petersburg, FL, is a holding corporation, which through its subsidiaries, has operations engaged in the exploration and development of oil and natural gas properties, purchase of royalty and working interest units in producing properties (oil and natural gas) and alternative land development projects. The Company maintains equity investments in our two spin-offs (The Greater Cannabis Company, Inc. and AMDAQ Corp) catering to the medical and recreational marijuana industry and blockchain technology. For further information, please visit the Company’s website at https://www.sylios.com.
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.
Contact:
Sylios Corp
(727) 482-1505
info@sylios.com