SG Blocks Signs Agreement for Design Services for Miami Area Hotel and Restaurant to Be Constructed

Download as PDF

BROOKLYN, N.Y.--(BUSINESS WIRE)-- SG Blocks, Inc. (Nasdaq: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of container-based structures, has signed an agreement to provide architecture and engineering services for a 3,680 square foot restaurant and 24 cottages in 12,160 square foot buildings to be constructed of purpose built modular/container units that will be built on top of a poured in place concrete structure (the “Project”), in South Florida.

While the parties finalize the contractual terms for the construction of the Project, terms for architecture and engineering (A&E) services have been agreed to, with plans scheduled to be delivered in June 2020. The Company expects to execute the construction contract within thirty (30) days and anticipates construction of the Project to commence in Q3 2020.

About SG Blocks, Inc.

SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding constructing a 3,680 square foot restaurant and 24 cottages in 12,160 square foot buildings in South Florida, executing the construction contract for the Project . While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, regarding the Company’s ability to enter into a construction contract for the Project, the Company’s ability to complete construction of the 3,680 square foot restaurant and 24 cottages in 12,160 square foot buildings, the Company’s ability to position SG Blocks for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Media
Rubenstein Public Relations
Christina Levin
Account Director
212-805-3029
clevin@rubensteinpr.com

or

Investor Relations
James Carbonara
Hayden IR
(646) 755-7412
james@haydenir.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

Source: SG Blocks, Inc.

Released April 8, 2020