U.S. Markets close in 3 hrs 10 mins

UPDATE: ECO INNOVATION GROUP Announces LOI for Steel and Hemp Homes Joint Venture in Santa Barbara County

Palm Beach, Florida, Oct. 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – ECO INNOVATION GROUP, INC. (OTC:ECOX)  (“ECOx or the “Company”), an Innovation Incubator platform devoted to globally important paradigm shifts in technology, sustainable and carbon negative products development and deployment, will introduce a more affordable fire, hurricane, earthquake and flood resilient steel framing construction system importantly complemented by industrial hemp building materials.

ECO Innovation Group is pleased to announce that it has entered an LOI to establish its West Coast base of operations for the company’s wholly owned construction subsidiary, Steel Hemp Homes Inc (SHH), in Santa Barbara County, California.

ECOx shall enter into a Joint Venture with Long Canyon Properties Holdings LLC to establish mobile facilities on 3 acres initially, with option to expand to 13 acres total with mutual agreement within 6 months of binding the LOI.

This project has been in discussion for many months with the intent to develop ecologically leading-edge single family and multi family structures showcasing innovative industrial hemp materials importantly complementing a catastrophe resilient steel framing system.

ECOx / SHH operations will not only prototype the Steel Hemp structures but also serve as a mobile education center to illustrate the inspiring science, history, and many importantly significant benefits of industrial hemp-based building materials, that provide carbon negative, ecological, sustainable, fire, earthquake, hurricane and flood resilience, with meaningful health and wellness benefits to occupants.  

Founder and CEO John English relates that “ECOx and subsidiary Steel Hemp Homes Inc. are dedicated to providing solutions that allow structures to survive fire, earthquake, hurricane and flood natural disasters, while also contributing to carbon sequestration that reduces the atmospheric carbon that is presently accelerating climate change weather anomalies worldwide. Elegantly simplified and efficient design will provide more affordable housing while still achieving resiliency and sustainability goals.” 

ECOx / SHH will scale production capabilities rapidly to address affordable and resilient housing needs worldwide. The McKinsey Global Institute estimates that the global demand for affordable construction will be $9 - $11 trillion by 2025.

ECOx / SHH will address the affordability and catastrophe resiliency issues in California with a unique steel and industrial hemp-based construction system. The Long Canyon JV will be a base for storage of mobile demonstration platforms showcasing innovative methods and materials to address the well documented and growing global crisis demand for more affordable, resilient and sustainable housing.   www.steelhemphomes.com

About ECO Innovation Group:
ECO Innovation Group (OTC:ECOX) is “An Innovation incubator pioneering affordable and sustainable construction technologies.”  

The Company is an innovation incubator platform devoted to globally important paradigm shifts in technology, sustainable and carbon negative products development and practical deployment worldwide. ECOx will initially introduce a more affordable, fire, earthquake, hurricane and flood resilient steel framing system importantly complemented by carbon negative industrial hemp building materials. The Company intends to rapidly scale to address the global need for more affordable, resilient and sustainable housing and construction generally.

Contact:

Tel. 561-826-9200

For more information please visit the company web sites at:

www.ecoinnovationgroup.net
www.steelhemphomes.com

ECO Innovation Group is publicly traded in the United States on the OTC Markets under the symbol: ECOx

Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.