Star8 Corp signs binding Letter of Intent to acquire 100% of Pace Developments St Vincent Inc.

STAR8 CORP. (OTCPK: STRH), has announced that it has signed a Letter of Intent (the “LOI”) to acquire hotel operations in St Vincent and the Grenadines (SVG) operating under the name Pace Developments St. Vincent Inc.

A Globe Newswire posting in Miami dated July 11 said this will be done through a plan of exchange with an expected closing in the current quarter.

Pace Developments St. Vincent Inc. owns 45 acres of land at Peter’s Hope on which a luxury hotel is to be constructed.

The venture, a luxury hotel and casino has a valuation from Colliers of US $48,000,000 from Colliers Construction has already begun on the luxury Black Sands Hotel, which will eventually house 450 rooms, on the 45 acres of land at this site.

“Our Board of Directors is impressed with the vision and strategy behind this development,” said chief executive officer of Star8 Corp, Mario Diez.

“We see an opportunity to invest in a growing market with an inspired project, that will ultimately stimulate the local economy.”

Phase one 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 feature a 5-star luxury hotel, with condos, a casino, a medical spa and its own private marina,” said chief executive officer of Pace Developments St.Vincent Inc., Joseph Romano.

“The finished product is going to be a resort that truly embodies all elements of relaxation and luxury living.”

Star8 Corporation is listed in a google search as a publicly traded multifaceted corporation with synergistic and strategic subsidiaries.

PACE Developments, Canadian investors, broke ground in 2017 for the development of Black Sands Resorts at Peters Hope and promised a completion time frame of 24-30 months.To date none of the buildings comprising the luxury resorts has been completed.