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NASHVILLE, TN - (NewMediaWire) - April 15, 2024 - LIG Assets, Inc. (OTC Pink: LIGA) (the "Company"), a publicly traded sustainability-oriented holding company with a focus on sustainable housing, media, and logistic markets, is furthering its platform with its key strategic investment in Carbonaix Corp., a development stage company focused on business and consumer engagement in Carbon Credits and Offsets as well as unique solutions in Climate Tech and Energy Efficiency. Furthermore, in anticipation of uplisting to OTCQX/QB, LIG Assets is also engaging a PCAOB firm to audit its financials and the Company has commenced an Executive Search for C-Level Management: CEO, COO and CTO.
On April 12, 2024, the Company and Carbonaix Corp executed a non-binding Memorandum of Understanding that provides LIGA with an exclusive right to invest up to $500,000 in a Series Seed Round in Carbonaix and arrange through strategic partners another secondary round of up to $2,000,000 with Definitive Agreements executed with 60 days. LIGA is currently in the process of re-capitalizing and expects to conclude the transaction when funding is completed.
"Today's announcement is an important milestone for LIGA. As we move closer to various mergers, acquisitions and joint ventures, we have attracted more attention from investors and funds recently. Our strategy is to trade through a new OTCQX/QB stock quotation allowing more accessibility for investors in the capital markets to purchase shares in LIGA," stated Marvin Baker, Chairman and President of LIG Assets.
Baker continued, "The Investment in Carbonaix, the engagement of an auditor and the Executive C-Level search are important steps to strengthen the existing LIG foundation and position it for uplisting to OTCQX/QB. Furthermore, Carbonaix's technology in Carbon, Climate and Consumer Engagement provides LIGA with a cohesive strategic plan to enter a new consumer market and provides a model in which to scale the core business into multiple categories. The Carbonaix platform will have first mover' status' in an entirely new market."
"We appreciate the Interest and Investment provided by LIG Assets and are looking forward to growing together at this important time in Climate Tech and Consumer Engagement. Carbonaix is private sector solution to a worldwide problem," said Scott Harmolin, Chairman and CEO of Carbonaix. With a proven history, Mr. Harmolin has a track record starting and developing leading edge technology companies, such as Icon CMT Corp. His expertise extends to managing both private and public funding initiatives, as well as overseeing mergers and acquisitions.