Acquisition of Minority Interest in
Rancho Costa Verde Development
OTCQB:ILAL
), (“ILA” or the “Company”), an international land investment and development firm, has appointed Frank Ingrande as President. Mr. Ingrande joins the Company from Rancho Costa Verde Development, LLC (“RCV”), a profitable developer of a 1,100-acre, 1,200-lot master planned community in Baja California. Concurrent with Mr. Ingrande’s appointment, the Company closed a 25% interest investment in RCV, which is located roughly 8 km north of ILA’s Oasis Park Resort, in a combination of cash and stock for a total of $4,000,000.
“I am pleased to announce the appointment of Frank to our senior management team,” said Roberto Valdes, Chairman & Chief Executive Officer of ILA. “His extensive experience in real estate sales and development in the northern Baja California region will prove to be invaluable as we execute on our operating strategy across our properties. Additionally, by closing on
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