TransGlobal Assets Inc. (OTC: TMSH) Enters Into A Development Agreement With Merati Homes LLC
Housing Development Joint Venture
Ann Arbor, Michigan, Jan. 26, 2022 (GLOBE NEWSWIRE) -- TransGlobal Assets Inc. (OTC Pink:TMSH) is pleased to announce that it has entered into a Development Agreement with Merati Homes LLC (), a modular real estate developer, to provide 50 housing units in addition to the necessary infrastructure as part of a master planned community at its South Haven Hemp Ranch. TransGlobal Assets shall provide a portion of the land with Merati Homes providing planning, development, construction and limited management services associated with the homes to be designed within their existing geographic nature among approximately 15 acres. These studios, one bedroom and two bedroom homes will be available for both short term and long term stays and are expected to be a base for people to enjoy the ranch, Lake Michigan, and all of the surrounding activities and festivals.
South Haven Hemp Ranch is to adopt a vertically integrated business model and will include a self-sustaining community of superior modular homes offering off-grid style living. It will consist of Commercial Greenhouses for year-round agriculture production and 10 acres registered for outdoor hemp cultivation, all located in picturesque SOUTH HAVEN, Michigan.
Pursuant to the agreement, TransGlobal will provide the highly sought after land in South Haven whereas Merati Homes will be responsible for the construction costs of the 50 homes which is expected to be $7.5 million with infrastructure costs being an additional $2.5 million. Profits from the rental units will be split 30%-70% between TransGlobal and Merati respectively until Merati recoups their development costs then it will be evenly distributed to 50%-50%.
TransGlobal Assets Inc. is a publicly traded Hemp/CBD holdings company. Our business model self-sustaining Hemp Ranches. Each hemp ranch will be vertically integrated from acres allocated, to outdoor cultivation and indoor greenhouses, to warehouses for processing farm grown hemp into textiles, hempcrete & plastics. The Hemp Ranch will provide raw products for processing the all-natural product lines to be sold through Monster Elixir, a wholly owned subsidiary of TransGlobal Assets Inc. Monster Elixir products include, but are not limited to, Green Essence Beverages; an all-natural CBD infused lemonade, and Crown Care; an all-natural Hemp infused hair care line.
Merati Homes is a modular home builder and sustainable community developer. Merati works with government entities and property owners to design, develop, and manage master-planned communities that are modern and environmentally sustainable.
Curtis Philpot, CEO of TransGlobal Assets Inc., states, ”I look forward to this symbiotic relationship with Merati Homes. This is a perfect deal that will generate substantial revenues for our shareholders.”
Please visit our website for more information about TMSH and all its holdings.
For further inquiries, please contact:
Curtis Philpot, CEO
TransGlobal Assets Inc. (OTC Pink: TMSH)
About TransGlobal Assets, Inc. (OTC Pink: TMSH)
In the ever-challenging social and economic climate for hemp, technology remains to be at the forefront as we discover new ways Hemp can help mankind. Our goal is to lead in the discoveries, set the standard and contribute to the conversation of Hemp. As we move into a newly understanding of how Hemp contributes to a more enhanced life, TMSH is forming a grassroots campaign from local Hemp Farmers to Wall Street, and everything in between. The healing properties of CBD are emerging in everyday household conversations, the Healthcare industry and even Global Markets. TMSH will meet this demand by promoting education, highlighting technology and investing in the future of Hemp.
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and jut uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of TransGlobal Assets, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, TransGlobal Assets, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
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