OriginClear Agrees to Acquire First Real Estate Asset to Finance Water Projects
CLEARWATER, FLORIDA – February 3, 2020 – OriginClear Inc. (OTCQB: OCLN), The Water Company for the New Economy™, today announced that it has agreed to acquire its first real estate asset to finance water projects. Ivan Anz, OriginClear advisor and founder of strategic partner Philanthroinvestors® Inc. has agreed to personally invest certain real estate assets through an asset purchase agreement.
Anz will exchange a collection of properties which he has valued at $630,000, in return for a package of stock and warrants, with a future option to invest in a fund which the Company is planning for the development of pre-funded commercial water equipment projects.
“Philanthroinvestors has achieved a ranking of #83 on the 2020 Inc. 5000 list with its real estate venture,” said Anz. “Now that we are a partner and advisor to OriginClear, we are interested in helping it achieve a similar success in Water. “
The next steps will be to finalize valuation, complete the closing process and get the final approval of the Board of Directors. The Company cautions there is no guarantee this acquisition will be completed or that the eventual fund for the development of water projects will be funded.
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