SPZI

JP 3E Holdings, Inc. Receives $23 Million, Purchasing Kokomo, Indiana Harmony Villas Project & Adds Rocky H. Singh to its Team

JP 3E Holdings, Inc., formerly Spooz Inc., receives $18,000,000 from the city of Kokomo, IN and the state of Indiana to fund the Harmony Villas Project. Rocky H. Singh, as a newly added Director, will manage the Harmony Villas Project and will add an additional $5,000,000 for the project

CLEARWATER, Fla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC: SPZI), receives $18,000,000 from the city of Kokomo, IN and the state of Indiana to fund the Harmony Villas Project. Rocky H. Singh, as a newly added Director, will manage the Harmony Villas Project and will be adding an additional $5,000,000 by investment into JP 3E Holding Inc. for the project.

JP3E purchased the 23 acres of land for the project. All permits and required paperwork were filed and approved, ready to break ground in the near term.

The Harmony Villas Project is strategically located directly across the street from the city and the state approved $3.2 Billion Kokomo Project by Stellantis N.V. and Samsung SDI that’s part of the StarPlus Energy joint venture. On Oct 11, 2023, Governor Eric J. Holcomb announced that Stellantis and Samsung SDI will significantly expand their electric vehicle battery manufacturing operations in Indiana. This will be the second StarPlus Energy gigafactory in Kokomo. Construction has already commenced on the first StarPlus Energy gigafactory. The total investment for both StarPlus Energy plant facilities will exceed $6.3 billion (€5.5 billion) and create 2,800 new jobs. This positions Harmony Villas at the ideal location to offer accommodations to the influx of workers and their families.

JP3E partners with the city of Kokomo and the state of Indiana, assuming responsibility for the Harmony Villas Project. This project will contain a new mixture of residential and commercial buildings to Kokomo, IN. The JP3E Harmony Villas Project in Kokomo, IN development is 23 Acres that will have 500 apartments, 42 townhouses, 40 retails mixed usage and 100 keys of 4 stars brand hotel accommodations with an estimated $112,000,000 Capital Expenditures (CAPEX). The company successfully secured $23,000,000 cash as GP and LP capital. Upon completion of development, JP3E expects the development to be valued at $192,000,000 with $14,000,000 Net Income annually. JP3E plans to break ground in the first week of March 2024 and expects to offer 21 townhomes by June 2024 for sale to the growing local community, facilitating the influx of Samsung factory workers and families.