Anderson, South Carolina--(Newsfile Corp. - February 6, 2024) - Ideal Group of Companies, Inc. (OTC Pink: IDGR) ("Ideal Group" or the "Company") has appointed Robert Egeland as Vice Chairman of the Company and began trading under its new symbol, IDGR on the OTC Pink Sheets. The symbol change is effective as of the trade date February 1, 2024.
Robert Egeland is a Board Director and serves President of Ideal Group's wholly owned subsidiary, Oxygen Mortgage Inc., which provides full-service mortgage brokerage services for consumers including adjustable and fixed rate loans, FHA, VA, and jumbo loans, as well as reverse mortgage financing. Over his lengthy career in real estate and finance that stems over 30 years, Mr. Egeland has owned and operated multiple mortgage brokerage, title, and real estate financing companies. These include Enterprise Mortgage's three Chicago locations and operations in Scottsdale, Arizona. In all, Robert Egeland has been responsible for over 28,000 mortgages across a variety of medium to large scale mortgage financing companies at the regional and national level. He is the founder and developer of Oxygen Mortgage Inc.
Within the Ideal Group framework, Robert Egeland will continue in his role as head of the real estate development division under Eclipse Real Estate Development brand, as well as the President of Oxygen Mortgage's brokerage division. He will work with the management team and board to oversee the operations of the real estate divisions, financial planning, and strategic growth of the Company.
Mr. Egeland's immediate focus will be the business planning and strategic development of the Company, including the acquisition and launch of several planned real estate development projects in South Carolina.
Robert Egeland stated, "I'm proud to take on the Company's Vice Chairman position as we build out our executive management group. There is a tremendous amount of momentum, and we are growing our team at both the executive and management levels. There is a lot of planning and strategic execution required to realize our inaugural real estate projects in South Carolina that are underway. I'm excited to be part of the new initiatives and company direction."
Ideal Group CEO and Chairman Charles Cardona states, "Robert Egeland's experience in the mortgage and real estate business in invaluable to the Company. I welcome him in his added role as Vice Chairman. His knowledge and practical, hands-on involvement will be a huge asset to the Company as we undergo the next stage of major expansion."
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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