CHARLOTTE, N.C., July 02, 2020 (GLOBE NEWSWIRE) -- CAVU Resources, Inc. (CAVR), today announced that, through its wholly-owned subsidiary Sinacori Builders, it has come to an agreement with TRI Pointe Homes (NYSE: TPH) to expand a pending $2,580,000 deal to $4,472,000.
The new deal includes the development of 26 lots in total (24 townhome lots and 2 single-family home lots located in the Carmel Rd., “Southpark” area in Charlotte, North Carolina, and is expected to be completed in Q4 2020.
Russell Sinacori, CEO of Sinacori Builders, stated, “I am thrilled that we have the opportunity to develop this fantastic site for TRI Pointe Homes. I believe their decision to boost this deal is a testament to our brand and quality of work. This is our second deal with a National Builder in 2020 since our acquisition and I believe the relationships and collaborations we have with these powerhouses will be invaluable as our Growing Together Brand continues to expand”.
About CAVU Resources, Inc.
CAVU Resources (OTCPK: CAVR) is a Charlotte-based real estate development and technology company focusing on innovation, technology, development and sustainability capitalizing on the explosive Organic & Hemp industry.
About TRI Pointe Group®
Headquartered in Irvine, California, TRI Pointe Group, Inc. (NYSE: TPH) is a family of premium, regional homebuilders that designs, builds, and sells homes in major U.S. markets. As one of the top 10 largest public homebuilding companies based on revenue in the United States, TRI Pointe Group combines the resources, operational sophistication, and leadership of a national organization with the regional insights, community ties, and agility of local homebuilders.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company's business, research, product development, and marketing and distribution plans and strategies.