KALY - Kali Inc Announces $10 Million Caribbean Marina Development Project
December 07 2016 - 8:22AM
InvestorsHub NewsWire
December 7, 2016 - InvestorsHub NewsWire
Kali, Inc. (KALY)
today announced a contract with Harbormaster Development to manage
the development of a new Caribbean marina. The project is
currently slated for a specific property in Puerto Rico.
Harbormaster Development has contracted Kali to manage an estimated
$10 million development project and to subsequently manage the
ongoing marina operation. The contract guarantees a $1
million management fee to Kali for the development phase of the
project with various performance incentives that could lead to more
revenue. The overall term of the contract is five years with
the services agreement transitioning from project management to
operational management at the end of the development phase.
The agreement between Harbormaster and Kali includes an equity
participation option for Kali. The development phase of the
project is anticipated to start in 2017 and continue into 2018.
KALY’s $56 Billion Market Opportunity
Earlier this year, Kali announced its entry into the $5 billion
fragmented and underserved marina management market sector with the
acquisition of Wave Marine & Yacht Services as the first
acquisition in a comprehensive roll-up strategy. Since Kali’s
initial entry into the marina management sector, the Company has
subsequently announced expanding into additional market sectors
complimentary to marina management. Between the marina
management sector and the complimentary sectors, Kali’s total
market sector opportunity encompasses over $56 billion.
SEE KALY’s STRATEGIC OVERVIEW AND MARKET EXPANSION
UPDATES
CapRock Research Initiates Independent Analyst Coverage On
Company Roll-Up
The Company also last week announced engaging CapRock Research to
initiate independent analyst coverage with a first research report
that is expected to include near and long-term stock price target
recommendations anticipated to be published within the next two
weeks. Industry analysis indicates that no dominant player
currently exists in the marina management market.
With no dominant player, KALY management considered engaging
analyst coverage as an important step in communicating the value of
KALY’s efforts within an industry as of yet receiving little
attention.
Last year, in regard to yet another marina related initiative in
Puerto Rico, Ingrid C Colberg-Rodríguez, executive director of the
Puerto Rico Ports Authority (PRPA), said "Puerto Rico is going to
be the premier destination in the Caribbean for maintenance, repair
and overhaul services of luxury vessels, while further fostering
the growth of the service and tourism industries on the island”
(Boat International).
Puerto Rico’s overall commitment to economic growth and the related
incentives, some of which are particularly attractive for the
purposes of marina development, have put Puerto Rico on top of
Harbormaster Development’s list of locations to build or update
marinas in the Caribbean. Accordingly, the contract with Kali is
anticipated to start in Puerto Rico and potentially expand within
Puerto Rico or to other properties outside of Puerto Rico.
The actual location of Harbormaster’s first Caribbean project maybe
outside of Puerto Rico depending on conditions and factors outside
of Harbormaster’s control.
Learn more about KALY:
wavemarineservices.com
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and as such, may involve risks and
uncertainties. These forward looking statements relate to, amongst
other things, current expectation of the business environment in
which the company operates, potential future performance,
projections of future performance and the perceived opportunities
in the market. The company's actual performance, results and
achievements may differ materially from the expressed or implied in
such forward-looking statements as a result of a wide range of
factors.
CONTACT:
Kali, Inc.
941.444.6994
management@wavemarineservices.com
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