The Company has Achieved Non-Shell Status & Hire an Independent Auditor to Audit the Past Two Years' Financial Statements. FAVO Will Seek to Move From the Pink Sheets to the OTCQB Markets
FAVO Realty Inc's Shareholder Base Will Increase to Approximately 200 Shareholders
FAVO Realty Inc. Will Focus on Acquiring a Diversified Portfolio of Quality Commercial Real Estate (CRE) Assets and RLT will Rebrand Under the Name "FAVO Blockchain Inc."
GARDEN CITY, NY /ACCESSWIRE / June 17, 2019 / FAVO REALTY, INC (OTC PINK: "FAVO"), a real estate investment company, is pleased to announce today that the acquisition/merger with RLT Atwood International Limited ("RLT" - Incorporated in the Republic of Seychelles on 12 April 2018; ISIN: SC2767HDIH83) has closed. RLT Atwood International Limited was acquired for $3.6 million in a stock swap transaction with FAVO Realty Inc. FAVO will issue 8,200,761 new shares based on the 30 day Volume Weighted Average Price (VWAP) of .43954662. These shares will be restricted for 12 months from the filling of a Super 8K audit.
FAVO intends to conduct a financial audit and will apply to the OTCQB Market. Vincent Napolitano, the Founder and CEO of FAVO Realty Inc, stated, "This acquisition is just the first step in building long-term value for FAVO shareholders." Vincent added "As a reminder to all shareholders, FAVO is a commercial real estate company first and foremost and real estate will always be our core focus and we look at crypto mining as a value add especially if Bitcoin is north of $5,000 per BTC."
FAVO intends on continuing RLT's good working relationship with the MERJ Exchange Ltd. Mr. Napolitano added "This relationship with the MERJ Exchange is important to FAVO as we attempt to grow into a global real estate platform. Through this relationship we will be well represented in the Africa, Middle East and Asian countries."
PKF Indian Ocean and MERJ Exchange Ltd. (formerly known as TROP-X/Seychelle Securities Exchange) acted as independent advisors to RLT and McMurdo Law Group, LLC as Legal Advisors to FAVO Realty Inc.
More About FAVO Realty Inc.
FAVO REALTY, INC is a real estate investment company which intends to invest in a diversified portfolio of quality commercial real estate properties and other real estate investments located throughout the United States and Puerto Rico. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO Realty Inc. intends to be Efficient, Flexible & Durable.
More About MERJ Exchange Ltd.
The MERJ Exchange was incorporated in the Republic of Seychelles in 2011 and received a license from the Financial Services Authority (FSA) in 2012. They operate a vertically integrated fully electronic securities exchange. They offer clearing and settlement in multiple global currencies including the USD, EUR, GNP, SCR & ZAR. They are a Correspondent Member of the World Federation of Exchanges (WFE) and a Full Member of the African Securities Exchange Association (ASEA).
More About RLT Atwood Ltd
RLT Atwood Ltd. Is the world's first vertically integrated listed investment blockchain management company. Headquartered in Eden Island, Seychelles as a registered publicly traded investment option that manages a fully diversified, alternative Blockchain investment portfolio and they are pioneers in decentralized systems.
More on FAVO GROUP, LLC
FAVO GROUP, LLC is the External Manager of FAVO Realty Inc. (FAVO - OTC Markets). They were founded by a Group of Real Estate and Capital Market professionals with over 100 years of collective experience and have transacted in over $6 billion of Real Estate related transactions.
CONTACT:
Email: info@favogrp.com
Tel: 833.FAVOGRP
SOURCE: FAVO Realty, Inc and FAVO Group, LLC
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https://www.accesswire.com/549000/FAVO-Realty-Inc-Acquisition-of-RLT-Atwood-International-Ltd-has-Closed
