Safe & Green Holdings expands with new acquisition

MIAMI - Safe & Green Holdings Corp. (NASDAQ: SGBX), a prominent developer of modular structures, has announced the acquisition of assets and business operations from County Line Industrial, LLC, an Oklahoma-based provider of welding services. The move, aimed at enhancing the company's reach in the ready-mix cement and oil and gas sectors, is expected to create additional revenue and improve profitability for Safe & Green's modular manufacturing segment.

The integration of County Line's welding services is projected to benefit Safe & Green's array of shipping container-based projects by increasing efficiency and profit margins. Additionally, County Line is set to continue expanding its customer base in the burgeoning Midland, Texas oil and gas market.

CEO Michael McLaren expressed optimism regarding the acquisition's potential to generate measurable shareholder value and support for Safe & Green's oil and gas subsidiary, Olenox. He emphasized the acquisition's alignment with the company's strategic growth initiatives and commitment to market leadership. McLaren also hinted at further updates on new growth opportunities to drive shareholder value.

Olenox Corp., under the Safe & Green Holdings umbrella, is an advanced energy company that focuses on oil and gas production, energy services, and innovative energy technologies. The company is known for acquiring distressed energy assets and revitalizing them using proprietary technologies to boost production while reducing environmental impact.

Safe & Green Holdings Corp. specializes in creating modular solutions that cater to the demand for safe and environmentally friendly construction across various industries. The company collaborates with developers, architects, builders, and owners to deliver projects with swifter execution, greener construction methods, and enhanced building value.

This acquisition is part of a series of strategic moves by Safe & Green Holdings to position itself as a leader in the market. The company's latest acquisition follows its recent purchase of Winchester Oil and Gas, signaling a continued focus on expanding its footprint in the energy sector.

The information about this acquisition is based on a press release statement from Safe & Green Holdings Corp. The company has cautioned that forward-looking statements in the press release are subject to risks and uncertainties that could cause actual results to differ materially from current expectations.

In other recent news, Safe & Green Holdings Corp. has announced several strategic financial and operational developments. The company reported the acquisition of assets from County Line Industrial, LLC, aimed at enhancing its access to the ready-mix cement and oil and gas sectors. This move is expected to bolster revenue and improve the efficiency of Safe & Green's modular manufacturing business. Additionally, Safe & Green's subsidiary, Olenox Corp., acquired a 51% stake in Winchester Oil and Gas, LLC, which operates over 500 oil wells. This acquisition is anticipated to leverage Olenox's patented technologies to enhance production efficiency.

In financial maneuvers, Safe & Green Holdings secured a $100 million Equity Line of Credit with Tysadco Partners LLC, providing flexible access to capital through the sale of common stock. This agreement includes a promissory note with a principal amount of up to $1,875,000. Furthermore, Safe & Green issued a promissory note valued at $375,700 to Generating Alpha Ltd., with an original issue discount and a 15% annual interest rate. Another promissory note for $360,000 was issued to GS Capital Partners, LLC, with similar financial terms. These financial arrangements are designed to provide Safe & Green with strategic funding options, allowing it to adapt to market conditions and support its growth initiatives.

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