A Small Las Vegas-based healthcare company announced that its wholly-owned subsidiary, Sinacori Builders, has successfully closed on a 0.98-acre property located in Charlotte, North Carolina for $5,100,000.
The property had been appraised at a value of $7,700,000, thus representing a creation of $2,600,000 in equity. CAVU Resources Inc. (OTC-PNK:CAVR), with a market cap of around $20 Million, owns this subsidiary, which is currently partnered with Smith Street Ventures, and investment group, is conducting interviews with experienced and qualified commercial builders capable of constructing a 37-storey luxury residential, transit-oriented high-rise building.
Traders seemed to be excited on the news, as share traded up to an early morning high of $0.0147/share (+5%) following the announcement. This move is a continuation of price appreciation that this stock has been riding over the course of the last few months.