LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business
Published on Friday, 08 March 2013 17:33 Written by TradersHuddle Staff
DALLAS, March 8, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA) announces it has agreed to sell its remaining assets in SuiteMagic, Inc. to focus on its core real estate business. LIGA stockholders received a dividend of one share of SuiteMagic, Inc. for every three shares of LIGA held on April 30, 2012. Those shareholders who received dividend shares will become part of a new entity and will receive information from the acquiring party soon. Terms of the purchase were not disclosed.
LIG Assets CEO Jeff Love stated, "My Chairman's Message issued on January 16, 2013 and other announcements since have clearly stated our focus remains on real estate, and the bulk of our assets continue to be in real estate. The Strategic Alliance formed in December, 2012 to focus on much larger, more valuable properties is stronger than ever, and is expected to consume our time for the foreseeable future."
About LIG Assets, Inc.
LIG Assets, Inc., 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 Inter Continental Real Partners, LIG Assets will expand its focus on multifamily, retail, hotel, and office properties with valuations between $3 and $100 million.
LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA". For additional information, please visit LIG Assets 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, which are on file with the U.S. Securities and Exchange Commission (SEC).
LIG Assets, Inc.
SOURCE LIG Assets, Inc.
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