Safe and green development corporation acquires xene real estate ai software

Miami, fla, feb. 08, 2024 (globe newswire) -- safe and green development corporation (nasdaq: sgd) (“sg devco” or the “company”), today announced that it has closed on the previously announced acquisition of majestic world holdings (“mwh”), a real estate technology firm and owner of the xene ai software platform (“xene platform”).  the purchase price for the acquisition consists of an aggregate of $500 thousand in cash to be paid over 5 quarters and 500,000 shares of sg devco restricted stock valued at $1.075 million, or $2.15 per share. under the terms of the agreement, matthew barstow, mwh ceo & president will become senior vice president of innovation at sg devco. the acquisition is a milestone in the company's short history and adds a new vertical to the sg devco portfolio. the addition of mwh diversifies sg devco's business interests and adds a new source of potential revenue.
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