Alliance Creative Group (ACGX) Retired Outstanding Convertible Debt and Continues Transition Towards New Focus The Company Is Heading in a New Direction with an Increased Focus on a Shared Resource Business Model
Chicago, IL
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February 27, 2023 08:00 AM Eastern Standard Time
McapMediaWire -- Alliance Creative Group, Inc., (http://ACGX.us and http://www.AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the Company has retired its remaining convertible debt note and some of the preferred convertible shares. The company repurchased the above-mentioned note and shares to remove the last of the convertible debt on the books and leave just the remaining Series H preferred convertible equity shares.
As of December 31, 2022 the Company entered into multiple agreements to divest and acquire specific assets and liabilities and add and remove certain Board of Directors and Advisors. The full disclosure is listed on the OTC Markets under disclosures.
Moving forward, if the Company is able to implement its new business plans and subject to favorable market conditions, the Company seeks to operate as a holding company. The Company believes that this may allow the Company to gain the benefits that may serve a "shared resource strategy" whereby its subsidiaries and real estate investments may gain the benefits of vertical integration with the opportunity to achieve operating efficiencies and cost savings. If these efforts are successful, the Company anticipates that it may, subject to market conditions, acquire additional real estate assets with a focus on special situations and distressed assets as well as other revenue producing asset opportunities.
In addition and as a secondary strategy, the Company may seek to acquire or originate secured loans and, if circumstances allow, to invest funds in and/or acquire majority control in early-stage companies, if market conditions and opportunities allow. If the Company is successful in these strategies, the Company anticipates that it may allow it to better utilize its planned shared resource model.
Overall, the Company believes that it has the managerial skills and relationships that may allow it to successfully implement its strategies if it can successfully identify and acquire appropriate acquisition targets, deploy its managerial resources effectively and, if market conditions allow. If these goals can be achieved, then the Company believes that its shared resources strategy may allow the Company to manage its subsidiaries more efficiently and identify appropriate secured lending opportunities with reduced expenses. If these goals can be achieved, the Company may be able to own a diversified portfolio of businesses and investment projects with resulting diversification and lower risk in both the private and public markets.
Currently the Company owns a sixteen unit corner walk-up, mixed-use building on the border of the Edgewater and Rogers Park neighborhoods of Chicago, Illinois. The Company also acquired all of the outstanding membership interests and manager interests of Peak Construction Group, LLC and The Company also currently owns an aggregate of 1,682,188 shares of PeopleVine, Inc. and the Company holds one seat on the Board of Directors of PeopleVine, Inc.
Paul Sorkin, CEO of the Alliance Creative Group, Inc. said, "Our current team is very excited about the new foundation we have created. We have been involved in multiple conversations with what we believe to be potentially beneficial investments and portfolio companies to better leverage our relationships and resources to pursue additional future opportunities. We are also adding multiple advisors that we believe will add valuable insight, information, and access to other opportunities. The overall economy is still very volatile and most industries are still dealing with significant challenges. However, we believe the best opportunities are created during the most challenging times and our goal is to build out a team with significant resources to position ourselves to find and help add value to well synergized opportunities. We are still updating the website www.ACGX.us and will begin to share more on Twitter at https://twitter.com/ACGsocial and other social media platforms as things progress."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (OTC: ACGX) is a Parent Holding Company on the OTC market. The strategy ACG intends to deploy is a shared resource model where portfolio companies and real estate investments are vertically integrated, optimizing efficiencies and cost savings ACG will apply roughly 80% of capital raised towards diversified classifications of real estate with a strong focus on distressed assets and healthcare. The company's distressed value-add projects may consist of healthcare facilities, warehouses, student housing, multifamily, conversions, flips and other opportunities. The remaining 20% may be applied to a mix of early stage equity investments in companies that synergize with the company's shared resource model and secured lending opportunities. ACG's strategic mission is to utilize a unique blend of capital, relationships, experience, and secured lending structures to increase value for its clients, partners, investors, and shareholders while reducing the overall risk. The company's big picture long term plan is to create an ecosystem of shared resources that can provide quality resources with reduced expenses while acting as a secured lender for internal projects. The intent is to have multiple businesses and investment projects or divisions to help diversify the risk and generate potential revenue in multiple ways while leveraging both the private and public markets. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
About PeopleVine
PeopleVine is a Software as a Service (SAAS) company that specializes in serving the Lifestyle Hospitality industry. The Member Experience & CRM Software allows luxury hotels, resorts, and private member clubs to elevate a more personalized online membership experience. PeopleVine helps their clients build member communities, drive engagement, and connect the dots that elevate experiences and revenues. The software empowers its clients teams to deliver efficiently managed operations through an integrated platform.
PeopleVine is committed to being the most essential and adaptive SaaS engagement platform for companies that take a customer centric approach to business.
For more information www.PeopleVine.com
This news release contains forward-looking statements as defined by the bespeaks-caution doctrine. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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