Awaysis Capital Secures $1.1 Million Bridge Loan from Key Executives on Preferential Terms

Unlock stock picks and a broker-level newsfeed that powers Wall Street.

PR Newswire

Thu, Sep 5, 2024, 2:47 PM 4 min read

MIRAMAR, Fla., Sept. 5, 2024 /PRNewswire/ -- Awaysis Capital, Inc. (OTCMARKETS: AWCA), is pleased to announce that it has secured a $1.1 million bridge loan (the "Loan") from Harthorne Capital, Inc. ("Harthorne"). Harthorne serves as a holding entity for investments in the Company by Mr. Michael Singh, the Company's Chairman and Co-CEO, and Dr. Andrew Trumbach, the Company's Co-CEO and CFO. Additionally, Mr. Singh, Dr. Trumbach, and Ms. Lisa-Marie Iannitelli, a director of the Company, are Executive Directors of Harthorne.

"This bridge loan demonstrates the unwavering belief our management team has in Awaysis Capital's growth trajectory and strategic vision," said Michael Singh, Chairman and Co-CEO of Awaysis Capital. "By investing directly into the Company, we are not only providing the financial resources needed to execute our plans but also reinforcing our commitment to delivering long-term value to our shareholders."

The Loan will be instrumental in advancing the ongoing development and renovations of the Company's Awaysis Casamora property, a key asset in Awaysis Capital's real estate portfolio. The Awaysis Casamora property is undergoing significant upgrades to its rental units and the commercial buildings aimed at rebranding and enhancing its curb appeal. This will increase our rental pool and sales inventory to generate additional revenues. These renovations include state-of-the-art infrastructure improvements, modernized facilities, and aesthetic enhancements designed to attract high-caliber guests and buyers.

In addition to the property development, the Loan will provide crucial working capital, ensuring that the Company can maintain its operational momentum and meet day-to-day financial obligations. This infusion of capital will also enable Awaysis Capital to seize emerging business opportunities, strengthen its market position, and sustain its corporate growth strategy. By addressing both immediate and long-term financial needs, the Loan will support the Company's continued expansion and the execution of its strategic initiatives.

For further details, please refer to the full text of the Note, which is filed as Exhibit 10.1 to the Company's Current Report on Form 8-K.

About Awaysis Capital, Inc.

Increased global trends towards "work from home" opportunities have impacted both residency and travel. We believe that more people are seeking comfortable and convenient places to travel, visit, and live for extended durations. We seek to capitalize on these trends by transforming residential/resort properties in desirable locations into convenient enclaves that facilitate this type of travel or residency. We define an enclave as a gated community that has all the amenities that will allow a person to live, work and play without having to leave the community.

To learn more, visit www.awaysiscapital.com

Forward-Looking Statements

Statements in this press release that are not historical fact may be deemed forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "would" or "continue" or the negative of these terms or other similar expressions. Although Awaysis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they involve numerous risks and uncertainties and Awaysis is unable to give any assurance that its expectations will be attained. Factors or events that could cause actual results to differ may emerge, and it is not possible to predict all of them. Awaysis' assumptions used for the purposes of the forward-looking statements represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance or our achievements, or industry results, to differ materially from historical results, any future results, or performance or achievements expressed or implied by such forward-looking statements. There are a number of risks and uncertainties that could cause Awaysis' actual results to differ materially from the forward-looking statements contained in this press release, which are set forth in certain of our filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, except as may be required by law.