GEGR Announces the Acquisition of 50% of the Capital Shares Salt Lake City, Utah--(Newsfile Corp. - October 5, 2022) - Gaensel Energy Group, Inc., (OTC Pink: GEGR) ("Gaensel" or the "Company"), a diversified holding company, announces a corporate update.
Gaensel Energy Group is pleased to announce the acquisition of 50% of the Capital shares of FMF GROUP SRL, an Italian real estate project financing and development corporation based in Reggio Emilia, Italy. FMF Group has been financing and developing real estate renovation projects in North Italy since 2007. FMF operates as a general contractor with the support and the technical assistance of its team of 15 architects and civil engineers and supervised by its President Ing. Alessandro Pepe, https://fmf-group.it/.
During the first 2 quarters of 2022 the Company has subscribed renovation and construction contracts for over $12,000,000. FMF projects that with the financial support of GEGR and its partners, it has the opportunity to acquire an additional $13,000,000 in new contracts. This new investment will give the opportunity to GEGR of consolidating and expanding its presence in the Italian and European real estate development, and can realize the benefits of the European markets facility which is currently granting financing with public grants programs going from 70% to 110% of the real estate renovation costs. The Company has realized the sale of several assets to an investment European Group for its third quarter results and will providing additional information to the shareholders.
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