Anderson, South Carolina--(Newsfile Corp. - January 9, 2024) - Ideal Group of Companies, Inc. (OTC Pink: JZZID) ("Ideal Group" or the "Company") has appointed David Weintraub as a member of the Board of Directors effective immediately.
David Weintraub is the President of Ideal Group's wholly owned subsidiary Portfolio Partners Inc. Portfolio Partners, Inc. is the parent company of Travel Zen, Inc., which acquires deeds to fractional timeshares in a portfolio of premium resorts concentrated during spring break at the most popular ski resorts in the USA. The company has multiple sources of revenue, including the resale of prime vacation weeks, the resale of the actual deeds, and the sale of ownership points.
David Weintraub is the former CEO of Swifty Car Wash, a company that he successfully took public and then returned to private holding. During his over 30 years of investment banking experience, Mr. Weintraub has personally raised hundreds of millions of dollars in capital, primarily for public companies.
Within the Ideal Group framework, David Weintraub will continue in his role as head of the Portfolio Partners division. Working with Robert Egeland, President of Ideal Group Inc., and the management group, he will actively pursue the Company's timeshare acquisitions and manage the forward strategy for Travel Zen, Inc., as well as the business planning and development of the Company.
Ideal Group CEO Charles Cardona states, "Having David Weintraub join our Board of Directors is an important step in the future of Ideal Group of Companies. His experience in both the vacation rental and corporate public markets will add immediately to our value, and as we scale up the vacation rental and real estate segments. He has proven his ability to add to the bottom line with the acquisitions already slated for Travel Zen, Inc. We are excited to have David Weintraub as a director and part of the executive team."
About Ideal Group of Companies Inc.
Ideal Group of Companies Inc. (idealgroupcorp.com) is a diversified real estate and financing company. Its real estate development division under the brand Eclipse Real Estate Development is engaged in acquiring, developing, and operating multifamily, mixed-use, commercial, and residential real estate, vacation rentals and RV resorts, and housing development projects. Its mortgage brokerage division under Oxygen Mortgage Inc. provides consumer mortgage services and, through Oxygen Commercial, provides financing for commercial projects. Ideal Group Inc.'s wholly owned subsidiary Portfolio Partners, Inc., is the parent company of Travel Zen, Inc., which acquires deeds to fractional timeshares in a portfolio of premium resorts at some of the most popular resorts in the USA. For more information, visit idealgroupcorp.com.
Press Contacts:
Ideal Group of Companies Inc.
Tel. +1-833-433-2599 Ext. 2
Charles Cardona, CEO
ccardona@idealgroupcorp.com
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
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