New York, NY, June 21, 2022 (GLOBE NEWSWIRE) -- NuGene International, Inc./Livento Group LLC (OTC Pink: NUGN) today announced that it signed a strategic consultancy agreement with a hotel in Tenerife, in the Canary Islands. The Company will be providing refurbishment consultancy, bank refinancing and long-term strategy services for the property.
“Tenerife is one of the most exquisite locations in the Canary Islands and draws millions of tourists throughout the year,” said David Štýbr, CEO of Livento Group. “We believe that our real estate team, which will be focused exclusively on this project, can deliver added value for this hotel, modernizing it and providing strategic input. This is expected to result in significant upside for investors.”
Livento also has the exclusive right to sell the hotel or find a strategic partner, whereby the Company will receive 20% of the sales price in exchange for short term property financing in amount of maximum USD 350,000. Additionally, Livento will receive monthly fix fee followed by success fees for bank financing and refurbishment milestones. The total revenue can accumulate to USD 750,000 during next 12 months not counting the fee for sale of the property.
The hotel has great growth potential via further development on its plots. It includes following elements:
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About Livento Group LLC
Livento Group (OTC Pink: NUGN) specializes in acquiring and developing companies with disruptive business models. The company is focused on film production, portfolio management and real estate investment. BOXO Productions, its recently launched film and television production subsidiary, is led by top actors and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references future events and expectations, possibilities or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact:
David Štýbr, CEO
Livento Group LLC
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