RANCHO SANTA MARGARITA, CA, Oct. 11, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Power Americas Resource Group Ltd. (the “Company” or “PARG”) (OTCMarkets: PARG), a publicly traded, fully reporting emerging growth company, is pleased to that it has recently acquired various assets relating to 3D/4D printing technology for use in the home construction industry. Additionally, the Company has appointed new officers and directors with the sole goal of rapidly implementing its new business model.
On September 9, 2022, the Company acquired specific assets relating to 3D/4D printing from an individual. A few days later, Mark Croskery was appointed as the Company’s new Chief Executive Officer, Chief Financial Officer, Treasurer, and Director. Mr. Croskery has a wealth of experience in the financial industry while other recent appointments to the Company’s board or management have successfully developed other cutting-edge technologies.
“This news marks the beginning of a new chapter for the Company, and we are extremely excited that we were able to complete this acquisition, as we believe we are on the cusp of a truly revolutionary moment in an industry that has been relatively static for decades. New 3D/4D printing technology and emerging techniques present unlimited growth potential in the home construction industry. Early adoption and implementation of this exciting technology should propel the Company’s anticipated growth to the next level. The acquisition of these assets should enable us to build our own 3D/4D printer for use in the construction industry,” stated Mr. Croskery, the Company’s CEO.
“Our goal is to develop our own printer which will enable us to build homes about 70% faster and at a much lower cost than through traditional home construction methods. We are in a position to direct our own future, we believe with hard work and dedication to this exciting technology, we can leave a meaningful and lasting footprint on the construction industry,” concluded Croskery.
For additional information regarding the Company’s acquisition of the aforementioned technology and information about the Company’s newly appointed officers and directors, please see our Supplemental Information filed on the OTC Disclosure & News Service on September 13, 2022 and our Current Report on Form 8-K filed with the Securities & Exchange Commission on September 15, 2022.
Power Americas Resource Group Ltd. (PARG) has developed a 3D/4D printing technology for use in the construction industry, which will cut the time and cost of building housing. We print “green” homes without using hard chemicals utilizing our proprietary printing methods, proprietary concrete, and our intimate knowledge of large-scale 3D and 4D printing processes. Our printer is a large-format portal COP-printer with enhanced performance for printing elements of buildings, structures on foundations with an area of 12 x 100 m and a height up to 12 m. The printer can be expanded to include a high-pressure washer and a supply station for synchronized concrete mixes. We will employ the newest and most revolutionary 3D/4D printing methods, including the use of new materials, like graphene concrete additives, antibacterial coatings, micro-fittings, and new construction technologies allowing us to make housing faster, better, more durable, and more affordable even for developing countries. We plan to focus on “low hanging fruits” where we have top level relationships with decision makers, with most focus on North and Latin/Central America. We will initially focus only on securing contracts with approximately 25 to 75 homes to print as we seek to validate our business model. Our vision is to create affordable, green housing by and through the implementation of our 3D/4D printing model and process into the construction industry.
SAFE HARBOR FORWARD LOOKING STATEMENTS:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
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