SG Blocks subsidiary enters fabrication deal for 800 modular rental units in Durant, OK

OLENOX INDUSTRIES INC.

SGB Development Corp. contracts with affiliate SG Echo, LLC for ~800 multifamily units (800,000 sq ft) at Magnolia Gardens.
SG Echo will receive a fee equal to 15% of total project cost for fabrication and related services.
Agreement is subject to SGB Development securing third-party financing for the Durant, OK project.
Design must be approved by client before fabrication; project to be fabricated in phases of 100-150 units.
Payment terms: 30% down, 65% on completion of each unit's fabrication/testing/3P inspection, 5% final upon installation acceptance.

item 1.01 item 2.03 item 9.01

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OLENOX INDUSTRIES INC. entered into Fabrication Agreement with SG Echo, LLC (effective 2022-12-02).

Action: entry
Counterparty: SG Echo, LLC
Effective: 2022-12-02

Exact text from the filing

On December 2, 2022, the Company’s subsidiary, SGB Development Corp. (“SG DevCorp.”), entered into a Fabrication Agreement (the “Fabrication Agreement”) with the Company’s subsidiary, SG Echo, LLC (“SG Echo”), for the fabrication of approximately 800 multifamily market rate rental units, equal to approximately 800,000 square feet of new modular buildings to be located at Magnolia Gardens, McLean Ave, Durant, OK (the “Project”).

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Source: SEC EDGAR

accession 0001213900-22-077939

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