Livento Group Announces Closing of Sales at a Residential Development in Prague
New York, NY, Sept. 14, 2022 (GLOBE NEWSWIRE) -- NuGene International, Inc./Livento Group, Inc. (OTC Pink: NUGN) today announced that its investment in the Rezidence Geminos project has been completed, and all units are now sold.
Located in Prague, Czech Republic, this building is a newly constructed 16-unit condominium. Each unit has a front garden and a terrace or balcony. The building is a modern, energy-efficient construction that has plenty of parking. In 2019, Livento acquired the project and its construction permit. They began updating this building's layout to reflect changes in market needs.
“This modern residential building is close to public transportation, local attractions, and schools,” stated David Štýbr, Founder and CEO of Livento Group. “Today’s announcement is important as we will soon be able to provide significant value from this project to our investors and as well its completing our shift of focus to BOXO and Elisee divisions.”
The Geminos Rezidence project was financed in cooperation with UniCredit bank and developed internally under the supervision of an experienced team who oversaw all construction tenders and sales. The total gross sales were anticipated to be $8 million, and construction was expected to be completed in 18 months. With homebuyers obtaining mortgages, Livento has been receiving payments for the units and will be able to use the remaining balance once the bank and developer are paid.
The team of professionals overseeing this project was led by Michal Zelezny, a veteran in the real estate industry with experience developing residential communities.
About Livento Group, Inc.
Livento Group (OTC Pink: NUGN) specializes in acquiring and developing companies with disruptive business models. The company is focused on film production, portfolio management, and real estate investment. BOXO Productions, its recently launched film and television production subsidiary, is led by top actors and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references to future events and expectations, possibilities, or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
David Štýbr, CEO
Livento Group, Inc.
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