Irvine, CA, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Irvine, CA – Primior Holdings (GRLT) (formerly GRILLiT Inc.) is pleased to announce the successful completion of its $30 million merger with Primior Inc., a leading real estate development and advisory firm. As part of this strategic realignment, GRILLiT will rebrand as Primior Holdings Inc., signaling its shift toward a broader focus on real estate investment, emerging technologies, and diversified holdings.
GRILLiT to rebrand as Primior Holdings
The merger brings Primior Inc.’s extensive real estate expertise to Primior Holdings Inc. (formerly GRILLiT Inc.), positioning the company to accelerate growth in key sectors. With a proven track record in developing over $3 billion in properties, Primior’s integration will provide the foundation for enhanced value creation and long-term shareholder returns.
Johnney Zhang, CEO and Founder of Primior Inc. commented, “This merger marks a pivotal moment for Primior. By joining forces with GRILLiT, we are well-positioned to expand our real estate portfolio, introduce innovative investment strategies, and capitalize on the benefits of being a public company. With a focus on property development in opportunity zones, tokenization, and emerging technologies to drive superior performance, Primior Holdings is set to lead at the intersection of real estate and innovation.”
Primior Holdings Inc. will strategically evolve from a development company into a premier real estate holding company. The company’s focus will be on acquiring, developing, and adding value to high-potential real estate assets across the U.S., with the goal of holding these properties for long-term cash flow and value appreciation.
“This approach will create consistent income streams while providing a superior appreciation for our shareholders,” Zhang added. “We believe our strategy will attract institutional investors and drive sustainable growth.”
Greg Mitchell, CEO of GRILLiT Inc., noted, “When I took over in 2017, my goal was to create a financially stable company for the benefit of all shareholders. I’ve always had a deep passion for real estate, and Primior Holdings can now deliver on that vision. Together with Johnney and the Primior team, we aim to revolutionize the industry by leveraging emerging technologies and making smart, value-driven investments.”
The rebranding to Primior Holdings Inc. reflects the company’s broader vision and commitment to building a portfolio of quality real estate assets. This transition sets the stage for aggressive growth, driven by strategic acquisitions and cutting-edge real estate innovations.
The merger between GRILLiT Inc. and Primior Inc. pertains solely to Primior’s real estate development and advisory business. Primior’s asset management division, which oversees $2.1 billion in assets under management (AUM), is not included in this merger at this time.
About Primior Inc.
Primior Inc. is a leading real estate development, investment, and advisory firm known for its innovative approach and focus on value creation. With a forward-thinking strategy, Primior integrates technology into its investment and development practices, positioning itself at the forefront of real estate and financial innovation.
About GRILLiT Inc.
GRILLiT Inc. is an OTC-listed holding company that has transitioned toward diversified investments, including real estate and technology. Following the merger with Primior, the company is poised to capitalize on emerging markets and innovative strategies.
