SOURCE: Global Boatworks Holdings, LLC

November 29, 2016 08:00 ET

Global Boatworks Nears Completion of Flagship Luxuria Class Vessel

Vessel to add over $1M in Asset Value with Sales Price Expected at $1.5M; $1,000-1500 per day as a Rental

POMPANO BEACH, FL--(Marketwired - Nov 29, 2016) - Global Boatworks Holdings (OTC PINK: GBBT) announced the following update today:

Construction of the Luxuria

The "Luxuria" is currently under construction at the Lauderdale Marine Center in Fort Lauderdale, FL. The total square footage of the complete vessel will be 1966 feet. The hull as well as both floors are framed out. As of our latest production schedule, completion dates for individual milestones are as follows:

Interior doors and hardware completion by end of first week in December. Cabinets and electrical work to be completed by the end of the third week of December. Decks and railing first week in January, 2017. Flooring, glass and tile work to be complete by mid-January.

Engines for the Luxuria will be installed last which is slated to occur 25 January, 2017.

Completion and Documentation is expected to occur on or before 26th January, 2017.

Sales and Rentals of the Luxuria Class Vessels

Sales price of the Luxuria class luxury floating vessels will be in the $1.5 million range. The units are expected to rent for $1,000-1,500 per night. Each vessel will have 1,600 square feet of air-conditioned luxury living space and amenities which is far greater than comparable hotel rooms, which rent for the same price in the local area. Rates will be higher for special event occasions and holidays as well as a higher rate for the winter months.

Bob Rowe, CEO of Global Boatworks, stated, "We are pleased to be on track for completion of our first Luxuria class luxury living vessel by late January."

Rowe continued, "The Luxuria will enable us to add over one million dollars in asset value and at the same time, we expect it to be more than just an asset on the books; it will be an income producer. The sale of the Miss Leah in Boston will enable us to get a running start on construction of the second Luxuria class vessel."

The Luxuria is the first of two flagship and showcase vessels to be constructed in South Florida. The Luxuria class vessels feature: Floor-to-ceiling windows; a chef-quality kitchen; two bedrooms with a spacious master suite; spa-like bathrooms; big-screen TV; two large decks; and two outboard engines. These will be docked in the exclusive marinas in South Florida and offered for sale and short-term rentals for vacationers, business travelers, and special events.

Sale of the Miss Leah

Additionally, the Company has a contract for sale of the "Miss Leah" in Boston, MA. Proceeds from the sale, if executed, will be used to reduce short-term debt and reinvested into the Company to provide additional capital for construction the second Luxuria class luxury floating vessel.

About the Miss Leah

The Miss Leah is a two-story, private townhouse, updated with top-of-the-line amenities and features. Located right in the heart of Quincy's most desirable community, Marina Bay. The Miss Leah has a view across the Boston Harbor and amazing views of the city of Boston. The Boardwalk is full of restaurants, and nightlife and is only a 10-15 minute drive from downtown Boston. The Miss Leah is right off the boardwalk at the docks, which makes for a very convenient location as the Shuttle to 'T' right nearby for easy travel to & from Boston.

The Miss Leah features:

  • Private floating two-story condo quality town home
  • Richly appointed interior
  • 2 Bedrooms, 2 Bathrooms
  • Sleeps 4-5 Guests
  • Granite and stainless steel kitchen
  • Crown molding

The Miss Leah has been extensively reviewed and has received 5 out of 5 stars in 38 of 48 reviews and 4 stars in 5 reviews.

Link for information, reviews and photos of the Miss Leah.

About Global Boatworks:

Global Boatworks Holdings, LLC ("the Company") is a multifaceted boat-building and vacation-rental company that operates out of Pompano Beach, Florida. The Company has previously built a highly successful rental houseboat in Boston, and currently has designed a state-of-the-art luxury floating home that will launch in the South Florida market.

Safe Harbor:

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company which continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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