Star8 Corp Signs Binding Letter of Intent to Acquire 100%

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Miami, July 11, 2022 (GLOBE NEWSWIRE) —

– Pace Developments St. Vincent is a luxury hotel and casino with a US$48,000,000 valuation of Colliers


MIAMI, July 11, 2022 (GLOBE NEWSWIRE) — Star8 Corp. (OTCPK: STRH), is pleased to announce that it has signed a Letter of Intent (the “LOI”) to acquire a St. Vincent Group operating as Pace Developments St. Vincent Inc. through of an exchange plan with an expected closing during the current quarter.

Pace Developments St. Vincent Inc. owns 45 acres of land in Peter’s Hope, St. Vincent and the Grenadines. Construction has already begun on the luxurious Black Sands Hotel, which will eventually house 450 rooms, on the site’s 45 acres of land. Located below the hurricane belt and featuring a newly built international airport in St. Vincent, the destination is gaining popularity in the luxury tourism market.

“Our Board of Directors is impressed with the vision and strategy behind this development,” said Mario Diez, CEO of Star8 Corp. “We see an opportunity to invest in a growing market with an inspired project, which will ultimately boost the local economy.”

The first phase of the project is expected to open within 12 to 14 months, and an additional 200 rooms for phase two will be completed within 24 to 36 months.

“This property will include a 5-star luxury hotel, complete with condos, casino, medical spa and its own private marina,” said Joseph Romano, General Manager of Pace Developments St. Vincent Inc. “The finished product is going to be a resort that truly embodies all the elements of relaxation and luxury living.”
To learn more about the Black Sands Hotel, please see the following YouTube videos: black sands hotel | Resort property | RhythmDevelopments For more information on Star8 Corp.’s portfolio of subsidiaries, please visit Star8Corp.com.

About Star8 Corporation

Star8 Corporation (OTCPK:STRH) is a publicly traded e-commerce technology and solutions company. Additionally, Star8 Corp. provides advice on sustainable marketing, technology, sales and distribution to its clients. To learn more about Star8 Corp., please visit Star8Corp.com.

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FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and information based on management’s beliefs and reflecting the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “predict “, “may” or “should” and the negative of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information contained in this press release include information relating to the implementation of the Company’s business plan. These statements and information reflect the Company’s current view regarding the risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to differ materially from the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, changes regulatory requirements, the need for additional financing, dependence on key personnel, the possibility of conflicts of interest among certain officers or directors and the volatility of the price and volume of the common shares of the Company. Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made, and the Company undertakes no obligation to update any forward-looking statements if such beliefs, estimates and opinions or other circumstances were to change. Investors are cautioned against attributing undue certainty to forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by the forward-looking statements and information. These factors include, among others, risks related to the activities offered by the Company, such as failure of business strategy and government regulation; risks related to the Company’s business, such as additional financing needs and access to capital, dependence on key and qualified personnel, insurance, competition, intellectual property and supply chains reliable supply; risks related to the Company and its activities in general. The Company cautions that the foregoing list of important factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the important factors mentioned in the preceding paragraph will not cause such forward-looking statements and information to be materially different from actual results or events. However, the list of such factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Although the Company may choose to do so, it does not undertake to update this information at any given time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE COMPANY’S EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACK UNBIDDEN IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED UNDER APPLICABLE LAW.


        
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