ILAL acquires remaining 75% of Rancho Costa Verde Development for $13.5M

International Land Alliance Inc.

Consideration: $8.9M secured convertible note (quarterly $2.225M at 5%, due Mar 2024), 20M shares, 33M warrants at $0.10/5yr.
RCVD is a 1,100-acre, 1,400-lot master planned community in Baja California; over 1,000 lots sold and 55 homes built.
In last 12 months: 67 lots sold (~$2.2M gross lot sales) and 22 homes under contract (~$4.5M).
Employment agreements to be executed with Seller principals.

Key facts

Extracted from this filing and checked against the source text.

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

International Land Alliance Inc. entered into Securities Purchase Agreement with International Real Estate Development, LLC valued at $13.5 million (effective 2023-01-03).

Action: entry
Agreement: equity purchase
Counterparty: International Real Estate Development, LLC
Value: $13.5 million
Effective: 2023-01-03

Exact text from the filing

On January 3, 2023, the Company, executed a definitive Securities Purchase Agreement (the “Agreement”) to acquire the remaining 75% of the membership interests of Rancho Costa Verde Development, LLC (the “Membership Interests”) from International Real Estate Development, LLC (“Seller”) for $13.5 million

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85 material agreements filed in the last 30 days. Browse all material agreements →

International Land Alliance Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-000980

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