International Land Alliance provides a corporate update on

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SAN DIEGO, CALIFORNIA, September 28, 2021 (GLOBE NEWSWIRE) – International Land Alliance, Inc. (OTCQB: ILAL), (“ILA” or the “Company”), an international land investment and development company, today provided a company update on its real estate portfolio and business operations.

Recent Company highlights:

  • Appointed chairman Frank Ingrande, veteran of northern Baja California real estate, alongside the acquisition of ILA’s minority stake in the development of Rancho Costa Verde.
  • Signed 10 residential land sales contracts for its Valle Divino project and accepted several housing sales reservations for its Plaza Bajamar project. A master bank trust is being created to hold and transfer title, rights and interests in each property, which will allow the Company to record income from its Valle Divino and Plaza Bajamar projects, as and when that sales are made and that individual trusts are established for each buyer. The Company expects this trust to be established by the end of its fourth fiscal quarter. The title and the ability to record sales at the Oasis Park Resort has already been established.
  • Partnered with CleanSpark, Inc. to successfully deploy a micro-grid on ILA’s model home in Plaza Bajamar, and plan made to equip all units on the property, as well as all units in the ILA Valle Divino development, with solar micro-grid installations.
  • Resumption of construction and service work at Oasis Park Resort for Phase I of the project, with over $ 60 million in gross lot sales forecast.
  • Launched a construction finance fund to provide flexible financing solutions for the construction of residential sites to selected qualified homeowners.
  • Reopened its newly renovated event center at its Emerald Grove Estates property in Southern California. ILA sold a vacant 20-acre parcel of the property for approximately $ 630,000, with a significant return on investment for a quarter of the 80-acre property that ILA originally purchased for $ 1.1 million. This sale is also expected to be recorded in the fourth fiscal quarter.
  • Continued efforts to secure funding and strengthen the balance sheet by closing a $ 2.0 million private placement with a single institutional investor and fully repaying a $ 500,000 bridging loan. ILA owns all of its properties in Baja California without any debt.

Management commentary

“2021 has been an important year for ILA, highlighted by the continued progress of our property portfolio and a strengthened balance sheet to further propel that momentum,” said Roberto Valdes, President and CEO of ILA. “We have managed to raise $ 2 million which we use for construction, sales and marketing in each of our development projects in Mexico, hoping for a high return on capital due to geographic arbitrage.

“Our Rancho Costa Verde property, located 8 km north of Oasis Park Resort, has seen better than expected sales since our acquisition of a 25% stake in the development, with over 900 residential lots sold to date. , 50 homes completed, more than 20 homes under construction, and approximately 30 additional housing units planned for development. With a boutique hotel and restaurant on-site, we invite visitors to visualize themselves being part of this self-sustaining community. The RCV team has taken steps to optimize the property’s sales and marketing spend, which has declined significantly from historical spending, and we are implementing similar strategies across the country. ILA property portfolio.

“At Plaza Bajamar, located within the internationally renowned Bajamar Ocean Front Hotel and Golf Resort, our partnership with CleanSpark is a key differentiator for our community with more advanced and sustainable solar energy solutions. We now move on to the next phase in which we will provide all units in the community with solar microgrid installations, which will be supported by our software solutions.

“CleanSpark’s innovative micro-grid solutions will also power our model home and amenities in Valle Divino, where we begin construction in the fourth quarter of 2021 for a model home, three casitas and a wine tasting clubhouse at next to our newly expanded two acre vineyard. . At a starting price of $ 49,000 per residential lot and $ 99,000 to $ 119,000 for completed one- and two-bedroom homes, respectively, we are significantly expanding accessibility to luxury home ownership. We are delighted to see these innovative, cutting edge technology solutions and equipment materialize in our properties, which we believe will drive demand as we move forward with our sales strategy, ”concluded Valdes.

“We have made rapid progress on our operational and strategic initiatives since I joined ILA at the start of the quarter,” said Frank Ingrande, President of ILA. “At Oasis Park Resort, we have already pre-sold 75 of the 1,344 residential lots planned in the community to first responders. We resumed construction on Phase I at Oasis Park in June, including marking the access road, staking residential lots and preparing the site for the pavilion and model homes, and have now started construction. of phase II.

“With a fortified balance sheet and a strong portfolio of attractive acquisition opportunities, we are able to make significant progress in our operational strategy and, ultimately, generate long-term sustainable value for our shareholders. We continue to innovate and meet our sales targets across our portfolio of properties, and I look forward to sharing our continued progress in the months to come, ”concluded Ingrande.

About the International Land Alliance, Inc.

International Land Alliance, Inc. (OTCQB: ILAL) is an international land development and investment company based in San Diego, California. As its main mission, the company has embraced technology for sustainable and socially responsible solutions, in addition to using advanced applications of cutting edge technology and construction technology to achieve these goals. The Company is focused on acquiring attractive raw land primarily in northern Baja California, often within driving distance of southern California. The Company serves its shareholders by devoting considerable time and resources to finding the best available sites and obtaining the necessary development permits to build an attractive portfolio of properties, offering a variety of investment and life options. . Please visit: www.ila.company.

Safe Harbor Declaration

The press release may include certain statements which are not descriptions of historical fact but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include description of our plans and objectives for future operations, the assumptions underlying those plans and objectives, and other forward-looking terms such as “may”, “expects”, “believes”, “anticipates” “,” Intends “,” projects “or similar terms, variations of these terms or the negative of these terms. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein. This information is based on various assumptions made by and expectations of our management which were reasonable when made, but which may prove to be incorrect. All of these assumptions are inherently subject to significant economic and competitive uncertainties. events and contingencies beyond our control and assumptions about future business decisions that are subject to change. Therefore, there can be no assurance that actual results will meet expectations and actual results may differ (possibly materially) from some of the results anticipated herein.

CONTACT

Investor Relations:
Brooks hamilton
Senior Vice President
MZ Group – MZ North America
(949) 546-6326
[email protected]
www.mzgroup.us


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