LONDON, May 22, 2024 (GLOBE NEWSWIRE) -- Cheshire Property Development Group Limited, ("CPG" or the "Company") a leading real-estate development Company with a strong emphasis on creating opulent living, energy efficient homes and sustainable residential estates, is pleased to announce, pursuant to a previously executed Stock Purchase Agreement (the "Agreement") with the private equity group Green Coast Capital International ("GCC") as of today, GCC holds approximately 20% of the Company's total issued and outstanding common shares (the "Common Shares"). Ranking pari-passu, the "bought-deal" defines GCC as a significant shareholder.
Leveraging the strengths of both companies, CPG and GCC have formed a strategic global relationship, the partnership offers CPG the use of GCC's established Public and Capital Market presence and in turn, offers GCC's investment portfolio direct access into the world of luxury real-estate.
Initially, the alliance outlines the intent to increase the Company's luxury property portfolio by tactically acquiring, financing and developing real-estate across the UK, Europe and the United States.
Furthermore, CPG intends to commence a Private Equity Placement (the "Private Placement") pertaining to a potential aggregated net proceeds of approximately GBP £5,000,000 through the issuance of up to 33,200,000 units (each a "Unit") at a purchase price of GBP £151.00 Per Unit. Each Unit will be comprised of one common share in the capital of the Company (the "Common Share").
Paul Carroll Director CPG commented:"Speaking on behalf of the Board and the CPG team, we thank Green Coast Capital for their commitment, having GCC as a shareholder, and moreover a key business partner will significantly accelerate our growth plan. This partnership gives us comfort that our capital and public market requirements are in place."
About Cheshire Property Development Group Limited:
Cheshire Property Development Group Limited ("CPG") is a leading real-estate development Company with a strong focus on creating opulent living, energy efficient homes and sustainable private residential estates. With a presence in the most affluent parts of the United Kingdom and Europe, the Company's mission is to revolutionize the way people live and engage with their homes, our vision is to create a sustainable lifestyle of extreme luxury, sophistication and by the use of enhanced technology, offer unprecedented home safety throughout all our developments.
About Green Coast Capital International:
Green Coast Capital International is a private equity investment company that focuses on placement of growth capital within start up and early-stage companies. GCC's forward-thinking, flexible approach to investing is tailored to companies with high growth potential.
