SOURCE: Freedom Energy Holdings, Inc.

Freedom Energy Holdings, Inc.

September 09, 2014 12:49 ET

Sigur Palace, Inc. aka Freedom Energy Holdings Secures South African Multi-Million Dollar Housing Initiative

FORT WAYNE, IN--(Marketwired - Sep 9, 2014) - Freedom Energy Holdings, Inc. (OTC: FDMF): Freedom Energy Holdings Inc., a subsidiary of Sigur Holdings (Pty) Ltd, today announced today that the Company has been awarded 300 hectares or about 750 acres of prime land for development in Estcourt, Kwazulu Natal, South Africa.

Tiny Diswai - Moremi, Chairman of the Board, reports, "Estcourt is located approximately 100 miles northwest of the Coastal Port of Durban, South Africa. The Kwazulu Natal Province has the highest population in the country, the Census'96 figures reveal. The province's population is more than 8.4 million and is the home of the infamous ZULU tribe and the mighty SHAKA ZULU warrior. A very interesting fact is that the major source of water supply is dams/rivers/streams/springs. Only 8.7% of people in the province have access to piped water on-site or in yards. This is part of a major initiative by the South African Government to bring a better and higher standard of living to its people."

The Ephangweni Communal Property Council currently owns the land and has granted Sigur Palace, Inc. aka Freedom Energy Holdings, Inc. a 99 year (free) lease for the future development and is renewable for an additional 99 years. Sigur Palace, Inc. in partnership with Imbabazane Municipality and Ephangweni Communal Property Association will build the infrastructure to support not less than 5,000 homes ranging from single family stand alone residences to multi-family condominiums. Construction will begin in November 2014 and will be handled through a tender process and in house contractors. The cost to build the typical house will range from $25,000 to $40,000 and sold to the public for $60,000 to $90,000. The cost to build the typical Condo unit will range from $10,000 to $18,000 and sold to the public for $25,000 to $45,000 per unit. Additionally, there will be a Golf Estate and Golf Course built to support 2,000 homes with cost ranging from $55,000 to $155,000 and sold to the public for $350,000 to $700,000.

Ms Phindile Strydom, Mayor of Imbabazane Municipality, commented, "We are extremely excited and are in support of this development for our people. This will boost Local Economic Development (LED). The development will create employment and sustainable living for our people. The whole Business plan is in line with the Municipal Integrated Development Plan (IDP). 

Ephangweni Communal Property Association Chairman, Mr Mandla Shandu, added, "We are excited about this partnership as we believe it will foster a great transformation for our community in terms of job creation and ancillary business opportunities it will bring. Working with Silindile and Sigur Capital made the process even more invigorating."

All of the aforementioned information will be verified in the upcoming audit by Malone Bailey and included in the financial statements for the period ending December 31. The previously announced relationship with Dutchess Capital will assist in developmental financing of the project which will be done in phases. In this project, Sigur Palace will also build and own a Hospital with a related medical Clinic and a Police Station to be leased back to the South African government Department of Health and the National Police Agency, providing Sigur Palace with government guaranteed revenues over the term of the lease.

"This relationship with Sigur is developing into an amazing opportunity for the FDMF shareholders. As this project unfolds, and the revenues begin to flow, it is the intention of the new Board of Directors to pass along as much of the revenues as possible to the shareholders in the form of cash dividends as quickly as possible. This along with the value of the assets being brought into the company is a good formula for those willing to be patient. The plans to spin out the technologies and subsidiaries owned up until now into independent companies is coming along and further information regarding the date of declaration will be forth coming soon," concluded Brian Kistler, CEO, FDMF.

Sigur Palace is a residential and commercial Real Estate development and investment holding company focusing on providing Africans with good quality and yet affordable housing, we are also active in the development of the low cost housing under the African National Congress (ANC) led South African Government's Reconstruction and Development Program ( RDP) with special focuses on quantity and productivity, not just to impress our client ( the government) but also to ensure safe and comfortable living for the underprivileged new home owners that are given mercy by the South African government to own houses and have a title deed on their name . We pride ourselves as not being a typical development company -- we strive to provide a product and service of the highest quality and standard. At the same time, we provide our portfolio companies assistance in the areas of strategy, executive team recruiting, operational execution and raising capital. We take a hands-on approach from the very beginning, partnering with talented management to transform their vision into reality.

FORWARD LOOKING STATEMENT - This press release contains certain "forward‐looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward‐looking statements. The Company, through its management, makes forward‐looking public statements concerning it expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in company's public announcements.

Contact Information

  • Contact Information:
    Brian Kistler