CHARLOTTE, North Carolina, June 21, 2021 (GLOBE NEWSWIRE) – CAVU Resources, Inc. (OTC: CAVR) follows up on plan to change name from CAVU Resources, Inc. to LiveToBeHappy, Inc. Board of Directors voted to adopt the new name at its quarterly meeting on June 17e and the company announces that it will apply these changes immediately upon filing the appropriate documents with the State of Nevada.
âPeople have had to adapt because of the pandemic – they have had to adapt to live, work, learn and play within the confines of their residence. An individual’s residence is now more important than ever, especially in their pursuit of happiness. Each of our communities and residences is designed with this in mind – so it makes sense to change our name to Live to be Happy – it reminds all of us of what we exist for, âsaid Russ Sinacori, President and Chief Executive Officer today. the operation of CAVU.
The company today announced the completion of several significant acquisitions. Letters of intent have been executed, the strategic fit and plan for each acquisition have been drafted and a comprehensive integration plan is being prepared to ensure that the acquisitions achieve the expected return. If the closing conditions for each acquisition are met, LiveToBeHappy’s consolidated annualized revenue would approach $ 55 million with approximately $ 6.5 million in annualized EBITDA.
âOur customers want more. Their needs go beyond closing the construction of their residence. We want to influence their individual pursuit of happiness in a positive way. Every business we acquire will have a positive impact on our mission to build lives, not just build places to live, âsaid Bob Silver, Executive Chairman.
To capitalize on the company’s expansion, the execution of the new strategic plan and to fund acquisitions already under letters of intent, the company is pleased to announce that it has engaged Dragonfly Capital as its investment bank.
âLiveToBeHappy is building an exciting business that provides its clients with residences from which they can work, learn, have fun and live a healthy lifestyle. The company has significant momentum in the South East and South markets. -Western United States and has lined up several impressive acquisitions that each add value to the LiveToBeHappy residential product. Dragonfly Capital is honored to work with the management team to secure acquisition financing and expansion capital for support the growth of LiveToBeHappy over the next few years – Don Millen, Managing Director of Dragonfly Capital.
âWe have looked at a number of options to fund and capitalize on this exciting expansion. After several discussions, we selected Dragonfly Capital, based in Charlotte, NC, as our investment bank and have already started the process with them to complete the due diligence and fund these acquisitions. These acquisitions will be transformative. They will lead to an incredible customer experience and deliver tremendous shareholder value to our shareholder community, as the capital structure of each transaction has been designed to minimize shareholder dilution. What we have achieved in just under 90 days is simply remarkable. And we’re just getting started, âsaid Kevin Vincent Cox, CEO.
The company plans to begin closing its acquisitions within the next three months and will provide more details on each business and category as soon as due diligence, funding and contracting hurdles are overcome. With so much progress to discuss, the company has decided to schedule a call to shareholders on Wednesday, June 23, 2021 at 4 p.m. ET.
Call to Shareholders – June 23, 2021 at 4 p.m. Eastern Time
Wednesday June 23, 2021 4:00 pm | 1 hour | (UTC-04: 00) Eastern Time (United States and Canada)
Meeting number: 182 159 3873
Password: mCcUNd5jb33 (62286355 from phones and video systems)
Join by phone
+ 1-415-655-0001 American toll
Access code: 182 159 3873
CAVU, INC RESOURCES
CAVU is a holding company dedicated to creating, acquiring, investing and promoting businesses and products that help people live, learn, socialize, endure and enjoy their own personal quest for happiness. The company has established five major verticals to accomplish this effort: real estate, technology, education, entertainment, health and wellness. To learn more, visit www.cavuresource.com
Sinacori Builders, a CAVU Resources company, is a technology-driven real estate company with over $ 13 million in assets and over $ 11 million in secured contracts / fences in 2021. This wholly owned subsidiary of CAVU is strongly established in Charlotte, in the North. Carolina, and is expanding its footprint throughout the Southeast. The Company plans to grow its brand and increase shareholder value by leveraging its links with the country’s top builders to become a national player. To learn more, visit www.sinacoribuilders.com
Management believes that certain non-GAAP financial measures may be useful in providing meaningful additional comparisons between current results and results of prior periods. In addition, this press release refers to earnings before interest, taxes, depreciation and amortization (EBITDA). EBITDA is a measure used by management to evaluate performance and frequently used by the financial community, which provides insight into an organization’s operational trends and facilitates comparisons between comparable companies, as interest, taxes , depreciation and amortization can differ significantly from organization to organization due to differences in capital structures and tax strategies.
All statements in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the offering, gross proceeds expected, the expected use of the proceeds and the expected close of the offer. All forward-looking statements contained in this document are based on current expectations and are subject to a number of risks and uncertainties. These forward-looking statements are identified by the use of words such as âcontinueâ, âexpectâ, âbelieveâ and âextendâ, among others. Factors that could cause actual future results to differ materially from current expectations include, without limitation, risks and uncertainties relating to the Company’s ability to develop, market and sell its products; the expected benefits and effectiveness of the Company’s products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, as well as the future commercialization of products; uncertainties relating to the COVID-19 pandemic and economic development, as well as the Company’s business, research, product development, marketing and distribution plans and strategies. The company disclaims any obligation to update these forward-looking statements, except as required by law.
COMPANY CONTACT: Kevin Vincent Cox at email@example.com