SG Blocks Sub-Leases COVID-19 Vaccination Site to Cook County, Illinois

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Transaction will generate the seed capital for Clarity Mobile Ventures

NEW YORK--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of container-based structures, announced today that the Company, SG Blocks, via its partnership with Chicago Airport Testing LLC, successfully completed a sub-lease for COVID-19 vaccinations with Cook County for the former K-Mart site in Des Plaines, Illinois, a suburb outside of Chicago.

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Rendering of an SG Blocks testing site (Photo: Business Wire)

Rendering of an SG Blocks testing site (Photo: Business Wire)

“We were happy to support the leadership team at Cook County in transitioning the space to a COVID-19 vaccination site. Our Chicago Airport Testing was not fully utilizing the entire building footprint, so using our massive space to aid in the process of vaccinating folks to fight the spread of COVID-19 made complete sense,” Paul Galvin, Chairman and CEO of SG Blocks noted.

With approximately 200,00 square feet of indoor and outdoor testing space, the facility will soon be used by Cook County for a mass vaccination program to combat the spread of COVID-19. Chicago Airport Testing will transition to a new laboratory site, with further details coming soon. The Chicago program will also expand to include remote collection units. Clarity Mobile Ventures will be able to seed its operations from the proceeds in a non-dilutive fashion.

About SG Blocks, Inc.

Founded in 2007, SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers to design and provide safe, durable and environmentally friendly structures. 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 is customized to client specifications. It has an exclusive ESR number, which was granted by the International Code Council and ensures its ability to meet and exceed all international building codes. Clients have included various retail clients, several branches of the U.S. military, and most recently, advances into the travel and healthcare space with hospitals and airports. For more information, visit www.sgblocks.com.

Safe Harbor Statement

Forward-Looking Statements 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. 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, the Company’s ability to deploy its COVID-19 solutions as planned, the Company’s ability to position itself 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 its 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
Vice President
212-805-3029
clevin@rubensteinpr.com

Investor Relations:
ICR
Stephen Swett
(203) 682-8377
investors@sgblocks.com

Source: SG Blocks, Inc.

Released March 1, 2021