Safe & Green Holdings appoints new COO

MIAMI - Safe & Green Holdings Corp. (NASDAQ: SGBX), a company specializing in modular structures, has announced the appointment of Jim Pendergast as its new Chief Operating Officer, effective since last Monday. Pendergast brings over two decades of leadership experience to the role, having previously held executive positions across various sectors including energy, construction, and agriculture.

With a history of leading companies through mergers and acquisitions, corporate restructuring, and financial initiatives, Pendergast's expertise is expected to support Safe & Green Holdings' expansion and innovation strategies. Michael McLaren, Chairman and CEO of Safe & Green, expressed confidence in Pendergast's ability to drive growth and integrate recent acquisitions Olenox and Machfu into the company's portfolio.

Pendergast's appointment comes at a time when Safe & Green Holdings is positioning itself for substantial growth in the energy and technology sectors. His track record in operational leadership and strategic planning is anticipated to be instrumental in the company's pursuit of long-term success.

Safe & Green Holdings operates with a focus on providing safe and green modular solutions, catering to a variety of industries that require faster execution, greener construction, and buildings of higher value. The firm collaborates with developers, architects, builders, and owners to meet these demands.

This news is based on a press release statement from Safe & Green Holdings Corp. and does not include any forward-looking statements or predictions. For more information on the company and its operations, interested parties can visit their official website or follow their Twitter account @SGHcorp.

In other recent news, Safe & Green Holdings Corp has been active with significant developments. The company recently appointed Michael McLaren as its new CEO, bringing over 30 years of experience in the energy sector. Simultaneously, Safe & Green announced the appointment of Jim Pendergast as the new Chief Operating Officer. Both appointments are part of the company's strategic efforts to enhance operational efficiency.

Safe & Green also disclosed a significant financial agreement through its subsidiary, SG Building Blocks, selling $203,000 of its future receivables for an immediate cash purchase price of $140,000. This move is part of the company's broader strategy to manage its capital and cash flows amidst a weak current ratio and significant debt burden.

The company has also announced a binding Letter of Intent to acquire New Asia Holdings Inc., including its subsidiaries Olenox Corp. and Machfu.com. This acquisition is expected to diversify the company's operations into energy and technology sectors.

However, Safe & Green faces potential delisting from Nasdaq due to an equity shortfall and failure to meet the minimum bid price rule. The company has appealed these decisions to the Nasdaq's Hearing Panel.

Lastly, Safe & Green secured two new contracts for the creation of modular containers, marking a continued expansion of its project portfolio. These are recent developments within the company.

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