DALLAS,
May 7, 2013 /PRNewswire/
-- South American Properties, Inc. (OTCPK: THCB), announced
its first real estate project under its new name and since
controlling interest was sold to LIG Assets, Inc. (OTCPK:
LIGA). A filing with FINRA was recently approved
to change the name of Texas Hill Country Barbecue, Inc. to South
American Properties, Inc. The newly formed
entity plans to acquire and develop real estate properties, and
other income generating assets located in South America with a more specific focus on
the country of Peru.
South American Properties plans to build a full service
luxury marina called Colan Marina near the port of Paita in
northern Peru.
Colan Marina will be a planned full service marina and lake with
150 slips, dry dock facilities, maintenance and fuel service and
full 24-hour security. The marina will be a
man-made construction to be created by excavation of a salt flat
bordering the emerald bay beach on the west and 100-foot cliffs on
the east. A canal 24-meters wide and 200-meters
long will connect the marina from the Pacific
Ocean.
Land has been purchased surrounding the lake portion as
well as on top of the cliffs overlooking the marina
location. Plans call for a small draw bridge
that will allow traffic along the beach when boats are not
entering. A rock jetty will be constructed to
calm any waves allowing a smooth entry into the canal and
marina. The marina will be land locked and
secure from weather and with 24-hour security.
It will be connected to electric and water
services. Future plans also include a marina
club, bar and small hotel, as well as apartments and condos for
sale and rent.
Peru has limited docking,
slips and marinas along its 1500-mile coast and
beaches. The Colan Marina will be located 10
kilometers from Paita, Peru, a
port city. Last year, Terminales Potruarios
Euroandinos Paita (Port of Paita) issued US$110 million of senior secured notes and plans
to use the note proceeds to dredge the port, build a mooring point,
buy cranes, purchase other handling equipment, and partially fund
reserves.
In a report from Fitch Ratings in May last year and
article titled "Peru's Paita port
has regional advantages," it stated that "activities at the port
are likely to benefit from ongoing infrastructure developments in
the region."
Colan is the gateway to the beaches of the north of
Mancora, Punta Sal and Tumbes where there are excellent surfing,
swimming and fishing, and is a day-and-one-half sail to
Ecuador. It is
also the gateway to the famous Galapagos Islands a two-to-three-day
sail from Colan. Piura is the closest main city of northern
Peru and is 30 miles away with
commercial airport facilities and immigration officials to receive
international flights. It is a
one-hour-and-twenty-minute flight from Lima, Peru.
LIG Assets (OTCPK: LIGA) expects to discuss how this
acquisition will benefit LIGA shareholders in the near future and
its overall strategy in more detail.
About South American Properties, Inc.
South American Properties, Inc., formerly Texas Hills
Barbecue, Inc., is a Nevada Corp. based in Dallas, Texas that plans to acquire and
develop real estate properties, and other income generating assets
located in South America with a
more specific focus on the country of Peru. The Company
believes significant opportunities exist in the countries of
South America, and it plans to
leverage its close relationships with contacts in the region.
trades on the pink sheets under the ticker symbol
"THCB".
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on
residential and commercial real estate. Through our Strategic
Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors,
and InterContinental Real Estate Partners, LIG Assets will expand
its focus on multifamily, retail, hotel, and office properties with
valuations between $3 and $100
million. LIG Assets, Inc. trades on the pink sheets under
the ticker symbol "LIGA". For additional information, please visit
LIG Assets corporate website:
www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements.
The words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings and disclosures at
www.OTCMarkets.com.
Contact Information:
South American Properties, Inc.
(214)
760-1000
SAPropIR@roadrunner.com
SOURCE LIG Assets, Inc.
