MEMPHIS, Tenn., May 19, 2021 /PRNewswire/ -- ATWEC Technologies, Inc. (OTC Markets: 'ATWT'), a US-based technology company specializing in vehicle technologies, today announced that MVP3 Studios & Partners, LLC has officially closed on its purchase of the Lightman Property, in Memphis, TN. Terms of the deal were not disclosed.
ATWT recently became a fully vested partner of MVP3 in April, and the new company revealed extensive plans to develop a multi-use center with recording studio, television network, office space, restaurants, and art gallery, all located near downtown Memphis.
The Lightman Property will now be the home to the MVP3 Studios, future ATWEC Center plans with a future development of a hotel, the 80,000 square foot building sits on twenty acres of prime real estate. The partners have worked for several months on closing the deal, and the resulting success serves as a milestone in the continued growth of ATWT.
Darnell Stitts, ATWEC's President and CEO, was optimistic about MVP3's detailed expansion plans. "We look forward to this breakthrough new venture in our hometown, and plan to showcase entertainment, film production, and other cultural events - hopefully up and running before the end of the year. We anticipate this will bring job opportunities, youth programs, and increased tourism for the city."
MVP3 has entered into preliminary agreements with Linkous Construction Group and ANF Architects to begin the remodel process immediately, with the goal of opening Phase 1 of the project by July 1, 2021.
MVP3 CEO Marie Pizano expanded on the group's plans, indicating that the grand opening would include a ribbon-cutting and walk-of-fame ceremony. "Now that we have closed, we will be working overtime to get open, and get the community on board. Our opening festivities will include specialty dining, musical concert, fireworks, and several celebrity guests. It will certainly be a special night."
The partnership plans to open five auditorium theaters, to feature blockbuster films and concessions. Other opportunities will include membership clubs, ticketed events, naming rights and prime rental space for local businesses.
Phase 2 of the project is set to begin after the opening, which will enable the remodel of six sound stages for film and music production, café, gift shop, museum, bookstore, and other retail stores by late 2021. The group also announced that the Worsham Hotel Group is slated to begin plans to build a new hotel adjacent to the MVP3 studios next year.
ATWT Director Stuart Barton was excited about the Company's initial real estate purchase. "The Company continues to make great strides in 2021. We are now set to close on both of our acquisitions and have a plan to raise substantial capital prior to year-end. With this first foray into real estate development, ATWT is accumulating assets while bringing new opportunities to the Memphis community:"
Shareholders and other investors can find the disclosure related to the Company's partnership with MVP3, the closing of the Lightman Property, and the group's detailed property development plans, along with the other latest ATWT developments, on the OTC Markets website, as well as the Company's website, www.atwec.com. Information regarding the MVP3 projects can be found on their temporary website, www.mvp3studios.com.
About ATWEC Technologies, Inc. (OTC PINK: ATWT):
ATWEC Technologies, Inc. is a child safety and security technology company, headquartered in Memphis, TN, in business since 1979. ATWT has developed three unique child safety devices which protect children while they are being transported, both to and from schools, events, and homes, and gives parents and administrators 'peace of mind'. ATWT has been issued patent number 7,646,288, B2 for its KV-3 system by the US patent office, and its business model is associated with legislation designed to mandate these systems for school and other vehicles, on a state-by-state basis. The KV-3 and the Kiddie Alert™ backup systems are currently being sold to customers across the globe. The Company recently announced their new "state of the art" KV-4 platform which uses RFID technology and their new cloud-based system to easily track children on vehicles to and from home. The Company also recently announced its KV-X product which used ultra-violet rays to sanitize a bus or van from bacteria and pathogens. The Company trades on the OTC Markets under the symbol "ATWT", and the Company's website is www.atwec.com.
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ATWEC Technologies, Inc.
Darnell Stitts, President and CEO
SOURCE ATWEC Technologies, Inc.