ZICIX ACQUIRES CTIP-FII
Rhea-AI Summary
ZICIX Corporation has acquired CTIP First Investment, Inc., enhancing its project development capabilities. CTIP-FII will function as ZICIX's operating company, focusing on infrastructure projects in developing nations, particularly in Africa and Latin America. The acquisition aligns with ZICIX's strategy of forming alliances with companies engaged in public-private partnerships (PPP), which are essential for infrastructure financing. The partnership aims to leverage both companies' strengths to undertake significant development projects, including hospitals, roads, and educational facilities.
Positive
- Acquisition strengthens ZICIX's position in infrastructure development.
- CTIP-FII's involvement in PPP projects can enhance revenue opportunities.
- ZICIX can leverage CTIP-FII's existing projects in developing countries.
Negative
- Dependence on government guarantees for PPP financing can pose risks.
- Integration challenges may arise due to differing operational frameworks.
News Market Reaction – ZICX
On the day this news was published, ZICX declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Carson City, NV, June 02, 2022 (GLOBE NEWSWIRE) -- The ZICIX Corporation (OTC Pink: ZICX) has acquired CTIP First Investment, Inc. (CTIP- FII), thus making CTIP-FII as ZICIX’ operating company in so far as project development activities of ZICIX are concerned.
CTIP-FII is a corporation registered in the State of Florida, with head office in New Jersey. Its website is www.ctip-fii.com. The company is engaged in the business of project development and project finance. It is currently involved in the development of government infrastructure in different countries, including Africa and Latin American Countries. CTIP-FII together with its strategic partners, is involved in the development projects such as hospital (four hospital projects) and medical school buildings, hospital dormitories, roads and highways, government school buildings, bank’s head office building, Agri-tourism projects, among others.
CTIP-FII projects are in countries that are classified as developing countries, such as Africa and Asia, including Latin American countries. Infrastructure development projects in the portfolio of CTIP-FII are either government funded, or the funding is arranged and provided by CTIP-FII and its strategic partners, under what is called Public-Private-Partnership (PPP). CTIP- FII makes more in PPP Projects especially if the projects are considered unsolicited proposal than government funded, since it will be subject of a tender.
Public Private Partnership is a contractual concept or arrangement between a public agency (federal, state, or local) and a private sector entity. Through this agreement, the skills, and assets of each sector (public and private) are shared in delivering a service or facility for the use of the public. In addition to the sharing of resources, each party shares in the risks and rewards potential in the delivery of the service and/or facility.
In an interview with ZICIX Chairman, Mr. William Petty, he said that it is about time that ZICIX should establish strategic alliance with operating companies, like CTIP-FII involved in project development especially Governments that are planning to undertake their infrastructure development through Public-Private- Partnership (PPP).
In the development of PPP Projects, the project proponent does not rely too much on publicly listed companies to raise funding for PPP Projects in the stock market. Most government provides sovereign or government guarantees, that most project proponents can raise the needed construction finance for PPP Projects. Moreover, projects that does not have an underlying government guarantee, can employ project securitization as an alternative way to finance such projects.
On the other hand, the Chairman of CTIP-FII, the Former Mayor of the City of Paterson, NJ, Mr. Jeffery Jones said, the acquisition of ZICIX on CTIP-FII is a welcome investment as it will strengthen the position and credibility of the company in the infrastructure industry with the support of a listed company, like ZICIX. CTIP-FII as a subsidiary of ZICIX, will now be indirectly regulated as CTIP-FII project activities are construed to be ZICIX activities.
ZICIX has organized two Divisions, one the Technology Division, and the other the Investments and Finance Division.
About the Corporations:
Zicix Corporation (OTC Pink: ZICX) Originally founded as a service provider to the Healthcare industry, the Zicix Corporation has recently been restructured with the intention of acquiring and developing technology applications designed for service companies in consumer, retail and other industries. www.ZicixGroup.com
CTIP First Investment, Inc. (CTIP-FII) is a private investment and project development company, involved in undertaking development projects for both the Government and Private Sectors respectively. CTIP-FII designs and brings the right financial engineering to project owners and creditors to fund construction finance and permanent mortgage. www.ctip-fii.com
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
For additional information, visit our website at www.ZicixGroup.com or call 830-331-0031. We are also on Twitter @ZICIXCorp.
FAQ
What was the date of ZICIX's acquisition of CTIP First Investment, Inc.?
How will CTIP First Investment, Inc. contribute to ZICIX's operations?
What types of projects is CTIP-FII involved in?
What are Public-Private Partnerships (PPP) in the context of ZICIX's acquisition?
What potential risks does ZICIX face following the acquisition?
