Business Services Industry
Strategy Announces Deal Expected to Earn $30 Million Over Seven Years
Business Wire, Dec 8, 2005
TORONTO -- Strategy International Insurance Group, Inc. (OTCBB:SGYI), through its subsidiaries is a provider of specialty lines of insurance, reinsurance and structured risk underwriting focusing on credit risk and credit enhancement, announced today that its subsidiary, Strategy Investments LLC, has agreed to finance three developments by Shell Vacations LLC.
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Strategy Investments and Shell Vacations have entered into an agreement where Shell will provide financing for three separate acquisition and development projects. These projects include the Vino Bello Resort in Napa, California; certain Strata Lots and other property at the Mountainside Lodge in Whistles, British Columbia, Canada; and certain condominium units at the Ilikai in Honolulu, Hawaii. Strategy Investments will provide funding totaling $27.5 million for the three projects. Strategy Investments will earn interest and participate in the profits of the three projects expected to yield revenue of approximately $30 million for Strategy Investments over the next seven years.
Napa Valley is home to California's premier wine region. The Vino Bello Resort in Napa Valley is set upon one of the most desirable locations for vacation development. The resort will be designed with an old world, Tuscan/Italian theme that ensures the natural feel of the Napa region.
Mountainside Lodge is situated in the center of Whistler Village and about a 2-minute walk to both the Whistler Mountain Gondola and the Blackcomb Gondola. All hotel suites will be equipped with well-appointed kitchens, fireplace, jet tubs and many have private saunas. The city is a key site for the Vancouver 2010 Winter Olympics.
The Ilikai project is a real estate conversion in Waikiki, Hawaii which consists of units on the main beach area of Honolulu. The resort has been the backdrop for several major television shows and home to a long list of presidents, celebrities and dignitaries.
Commenting on this announcement, Stephen Stonhill, Chairman of Strategy International Insurance Group, Inc., stated, "We are excited to partner with Shell Vacations on these projects. Understanding the booming vacation industry, we believe that financing these three projects will prove to be a lucrative investment for both parties."
About Shell Vacations LLC
Shell Vacations is one of the nation's largest independent vacation ownership operators with over 2,000 employees serving more than 100,000 owners/members at 22 resorts located from Hawaii to Eastern Canada. The company is also franchising its club systems and has announced two franchise resorts in the past several months. Please visit Shell Vacations website at http://www.shellvacationsclub.com
About Strategy International Insurance Group, Inc.
Strategy International Insurance Group, Inc., (http://www.sgyi.com) a Texas corporation is a publicly traded holding company for a group of financial service companies that are located throughout the world. Strategy Holding Company Limited, a wholly-owned subsidiary is the parent company for a group of insurance related organizations whose operating subsidiaries include Strategy Insurance Limited of Barbados, Strategy Insurance (Canada) Limited and Strategy Underwriting Agency Limited. Strategy Holding Company Limited owns all of the insurance operations of which the key operating insurance company is Strategy Insurance Limited. Strategy Insurance Limited was incorporated in Barbados on December 23, 2003 and was granted a license under the Barbados Exempt Insurance Act on March 25, 2004. Strategy Insurance Limited is Strategy International Insurance Group, Inc.'s key operating insurance company.
Forward-Looking Statement
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward-Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements may be identified by words including "anticipate," "await," "envision," "foresee," "aim at," "believe," "intends," "estimates" including without limitation, those relating to the company's future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward-Looking Statements. Readers are directed to the company's filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations.
Strategy International Insurance Group, Inc. (OTC Bulletin Board:SGYI)
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