Cryptosx announced FirstShot Centers, LLC (“FirstShot”) has received formal approval from CEZA (“Cagayan Economic Zone Authority”) for security token offering and listing on Cryptosx.
FirstShot intends to raise up to US$100M from investors in the North America, Europe and Asia to acquire, repurpose and operate undervalued retail shopping centers across the US. Every FirstShot center or store will be reformatted as an entertainment hub specifically targeted for the firearm, ammunition and outdoor sporting industry and communities. Centers will be themed destination offering a state-of-the-art shooting range, outdoor sporting and adventure retail stores and unique experiences.
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COVID have dealt the world economy a startling blow with shopping malls, big box stores and superstores lie empty across America. With purchase prices at a fraction of replacement costs, FirstShot mandate is to bring a reimagined retail landscape to vacant and distressed shopping malls. Each center can house a variety of national tenants that have been identified.
FirstShot will evaluate potential property and run analytics, determining if this is a viable opportunity for purchase and repurposing. Each property is acquired with a build out revenue-generating strategy that will result in cash-flow distributions to investors, creating appreciable value-add.
FirstShot Founder and CEO Brian Lovig has a long and successful career in commercial real estate as well long-standing relationships and passion with the firearm and commercial real estate communities. By relying on the insights built up over 30 years by the FirstShot Centers management team, the Company will implement a strategy to generate positive ROI for FS Token Holders.
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FirstShot will leverage Cryptosx STO platform to list and provide secondary trading to international accredited investors. “We are absolutely thrilled to have FirstShot joining our stable of security tokens. Real estate is an industry that is particularly suitable for tokenization and FirstShot ingenuity with the firearm and shooting communities makes it a pioneer and first mover”. Cryptosx founder Philip Tam.
Cryptosx will handle primary issuance and secondary trading of FirstShot non-US or International Investors whilst Securitize will be responsible for FirstShot US investors.
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