SAN DIEGO, CALIFORNIA, Nov. 07, 2019 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (ILAL) today announced it has closed on a preferred stock placement for $500,000 with CleanSpark, Inc. (CLSK). This strategic investment includes a 10-year exclusive agreement that calls for CleanSpark to provide its microgrid Value Stream Optimizer (mVSO) software services to support system design and engineering as well as integrating CleanSpark’s mPULSE software into the final systems on all future energy projects across the ILAL portfolio of properties.
The Company intends to use the net proceeds from this preferred stock placement for two initial energy projects and the construction of two model homes at its new Costa Bajamar Oasis development, as well as sales and marketing. Site preparation began last week at Costa Bajamar and upon completion will be comprised of 34 units on approximately one acre. Costa Bajamar is located at the Bajamar Ocean Front Golf Resort, a master planned golf community located 45 minutes south of the San Diego-Tijuana Border along the scenic toll road to Ensenada. For more information about Costa Bajamar Oasis and to follow the construction progress, please visit: www.ila.company/costa-bajamar
Zach Bradford, CleanSpark’s CEO stated, “We are very pleased and excited to be working with ILAL to exclusively provide our software products and services for all energy projects across ILAL’s entire portfolio of properties. Having demonstrated our capability of providing islanded power for large-scale critical military installations, we now can deploy these same technologies across a broad spectrum of commercial, residential, agricultural and vacation properties of all sizes and complexities. This is a game changer for us and gives CleanSpark a significant pipeline of new business opportunities.”
Jason Sunstein, ILAL’s Vice President commented, “Power solutions and planning are critical aspects of every residential and commercial development. Using CleanSpark’s software solutions ensures our property owners are provided with a secure and optimized power solution. There are numerous development opportunities in Mexico that are saddled with no-grid or bad-grid conditions and the progress in microgrid solutions is opening new opportunities for us and for our home buyers. We have chosen CleanSpark as we believe they not only have the best technology solution available, but is also highly compatible with our financing targets and generates returns for our investors and partners. Our development strategy includes the emerging property technology (PropTech) landscape and working together with CleanSpark will help us reach our objectives.”
Mr. Sunstein further commented, “With the deregulation of energy in Mexico, there is a significant market opportunity for the formation of small-scale utility projects and this partnership should create additional revenue streams for both companies. Additionally, by embracing this technology we expect to drive increased efficiencies and provide sustainable solutions for our customers across all of our developments.”
With respect to the above transaction “Buckman, Buckman & Reid Inc. acted as a non-exclusive Investment Advisor. Buckman, Buckman & Reid, Inc. was founded in 1988 as a registered broker dealer with the Securities and Exchange Commission (“SEC”), Securities Investor Protection Corp. (SIPC) and member of the Financial Industry Regulatory Authority (“FINRA”). BB&R is a full service securities brokerage firm engaged in a variety of activities, including retail and institutional brokerage, wealth management, investment advisory services, private offerings and other investment banking activities.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (ILAL) is an international land investment and development firm based in San Diego, California. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
CleanSpark provides advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Our services consist of intelligent energy monitoring and controls, microgrid design and engineering, microgrid consulting services and turn-key microgrid implementation services. CleanSpark's software allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects," or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
Jason Sunstein, Vice President at Jason@ila.company or Toll Free: 877.661.4811