Safe & Green Holdings Partnership With CORNERSTONE Charitable Foundation Awarded Ten-acre Parcel of Land to Construct Previously Announced School in Cape Coast, Ghana

Rhea-AI Summary

Safe & Green Holdings announces partnership with CORNERSTONE Charitable Foundation for construction of a new schoolhouse in Cape Coast, Ghana

Positive

• Safe & Green Holdings awarded a ten-acre parcel of land for the construction of the school facility
• Significant financial contribution from Paul Galvin, Chairperson and CEO of Safe & Green Holdings
• Company's healthcare and wellness subsidiary prepared to address healthcare challenges in underserved regions

Negative

• None.

Safe & Green Holdings Healthcare and Wellness Medical Subsidiary Ready to Address Healthcare Challenges in Underserved Regions in Next Phase of Project

MIAMI--(BUSINESS WIRE)-- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures for residential, commercial, and point-of-care medicine, today announced that their partnership with CORNERSTONE Charitable Foundation has been awarded a ten-acre parcel of land to construct the previously announced schoolhouse planned for construction in Cape Coast, Ghana, as part of the Ghana’s Tomorrow Project.

Queen Ohemaa Egyama Egyiriwa Ansaba 1st of Amankurahemaa of Kwamankese -kwaman in the Central region of Ghana, Delphine O’Rourke, President & CEO of Safe and Green Medical and Paul Galvin, Chairperson and CEO of Safe & Green Holdings (Photo: Business Wire)

The Ghana's Tomorrow Project involves the construction of a new K-12 schoolhouse in Cape Coast, Ghana, which will replace the legacy structure that is currently used. The Ghana’s Tomorrow Project will be funded by the CORNERSTONE Charitable Foundation and is made possible with a significant financial contribution from Paul Galvin, Chairperson and CEO of Safe & Green Holdings, and Chairman of the Board of CORNERSTONE Charitable Foundation.

Paul Galvin stated, “We are pleased that Cape Coast, Ghana, has approved the project and granted CORNERSTONE Charitable Foundation a ten-acre plot of land for the construction of the new school facility. We are excited that the project is advancing rapidly, and we are on the verge of finalizing the project's design phase. We will soon collaborate with the local team in Ghana to begin laying the project’s foundation. Being part of a project with the potential to bring about such significant positive change for the children of Ghana, both in the present and the future, is a profound honor, while supporting CORNERSTONE's mission to create meaningful impact in West Africa. The new school serves as a testament to CORNERSTONE's dedication to Ghana and its people. We also look forward to broadening the scope of the project and anticipate the next phase will involve our healthcare and wellness subsidiary, which is prepared to address the critical healthcare challenges in some of Africa's most underserved regions."

Delphine O'Rourke, President and CEO of Safe and Green Medical, commented, "The Village healthcare workers understand the health and wellness needs better than anyone else. We are working very closely to identify the most needed services and infrastructure. Malaria continues to be a significant cause of death and many women in rural areas lack access to maternal health. It is our mission to provide healthcare everywhere and we are privileged to serve globally."

The Company will provide more details on this exciting project as they become available.

About Safe & Green Holdings Corp.

Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. The Company’s subsidiary, Safe and Green Development Corporation, is a leading real estate development company. Formed in 2021, it focuses on the development of sites using purpose built, prefabricated modules built from both wood and steel, sourced from one of Safe & Green Holdings’ factories and operated by the SG Echo subsidiary. For more information, visit www.safeandgreenholdings.com and follow us at @SGHcorp on Twitter.

About CORNERSTONE Charitable Foundation

CORNERSTONE Charitable Foundation is a 501(c)(3) non-profit organization focused on providing global services for affordable housing, primary care/point of care medicine, the provision of clean potable water and education.

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 plans to construct a schoolhouse in Cape Coast, Ghana; plans to add integrating person-centered, data driven, and trusted health and wellness services; and the possibility of a library. While the Company 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 but are not limited to the factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018563560/en/

Investor Relations:

Crescendo Communications, LLC

212-671-1020

SGBX@crescendo-ir.com

Source: Safe & Green Holdings Corp.

FAQ

What is the partnership between Safe & Green Holdings and CORNERSTONE Charitable Foundation about?

The partnership is for the construction of a new schoolhouse in Cape Coast, Ghana.

Who is funding the Ghana's Tomorrow Project?

The project is funded by the CORNERSTONE Charitable Foundation, with a significant financial contribution from Paul Galvin.

What is the role of Safe & Green Holdings in the project?

Safe & Green Holdings is the developer, designer, and fabricator of modular structures for the school facility.

What is the next phase of the project?

The next phase of the project will involve Safe & Green Holdings' healthcare and wellness subsidiary addressing healthcare challenges in underserved regions.

What are some of the healthcare challenges in Africa's underserved regions?

Some of the healthcare challenges include malaria and lack of access to maternal health services.

What is the mission of Safe & Green Medical?

Safe & Green Medical's mission is to provide healthcare everywhere, globally.