|$ILAL International Land Alliance Announces $5 Million 506 (c) To Launch New Mortgage Division|
- Company to raise $5 Million Via 506(c) By Issuing Preferred Stock
SAN DIEGO, CALIFORNIA, Sept. 20, 2022 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB | ILAL), (“ILAL” or the “Company”), an international land investment and development firm, announced today that it is raising up to $5,000,000 from Accredited Investors under a Securities and Exchange Commission (SEC) Reg D 506c offering.
This Private Placement opportunity is being offered to a limited number of Accredited Investors in compliance with Regulation D Rule 506c promulgated under the Securities Act of 1933, as amended ("Securities Act"). The Terms of the Offering include a $100 purchase price per share. Accredited investors, as defined by the Securities Exchange Commission, may contact the company to inquire.
Frank Ingrande, president of ILAL, noted that while the company continues to enjoy sustained growth, the goal was to establish a financing and lending model that would help streamline the sale of our properties and thus tangibly increasing shareholder value.
“The majority of funds will be allocated to finance loans to purchasers of our real estate products in Mexico including home sites, home construction and finished homes,” Ingrande said. “We believe that we would be one of the first real estate developers in Mexico to offer real estate financing to US citizens.”
Difficulty in property financing in Mexico has long been a barrier for Americans looking to acquire property that would be a second home or a property for a retirement. With the ability to secure $5,000,000, Ingrande saw the opportunity to offer a valuable service while increasing the footprint of the company.
“This accomplishment is the result of tremendous vision and follow through by the entire ILAL team,” Ingrande added. “As a result of this raise, we expect to greatly increase our market size by providing a more affordable way for our customers to purchase and build homes with us.”