Safe and green development corporation acquires all sgd shares held by safe & green holdings corp.

Miami , jan. 30, 2025 /prnewswire/ -- safe and green development corporation (nasdaq: sgd) ("sgd" or the "company") today announced the resolution of certain inter-company financial obligations with safe & green holdings corp. (sgbx). under the terms of the agreement, sgd has forgiven and released sgbx from obligations under a promissory note dated august 9, 2023, with a principal amount of $908,322.95 and intercompany advances of $815,522 (which sgd had previously written off its balance sheet as of 12.31.23) in exchange for sgbx forgiving $394,329 of inter-company debt owed to sgbx by sgd and for sgbx transferring 276,425 shares of sgd common stock owned by sgbx to sgd.
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