Benzinga | Mar 1, 2021 08:03AM EST

SG Blocks Highlights Completion Of Sublease For COVID-19 Vaccination Site To Cook County, Illinois; Financial Terms Not Disclosed

Transaction will generate the seed capital for Clarity Mobile Ventures

SG Blocks, Inc. (NASDAQ:SGBX) ("SG Blocks" or the "Company"), a leading designer, innovator and fabricator of container-based structures, announced today that the Company, SG Blocks, via its partnership with Chicago Airport Testing LLC, successfully completed a sub-lease for COVID-19 vaccinations with Cook County for the former K-Mart site in Des Plaines, Illinois, a suburb outside of Chicago.

"We were happy to support the leadership team at Cook County in transitioning the space to a COVID-19 vaccination site. Our Chicago Airport Testing was not fully utilizing the entire building footprint, so using our massive space to aid in the process of vaccinating folks to fight the spread of COVID-19 made complete sense," Paul Galvin, Chairman and CEO of SG Blocks noted.

With approximately 200,00 square feet of indoor and outdoor testing space, the facility will soon be used by Cook County for a mass vaccination program to combat the spread of COVID-19. Chicago Airport Testing will transition to a new laboratory site, with further details coming soon. The Chicago program will also expand to include remote collection units. Clarity Mobile Ventures will be able to seed its operations from the proceeds in a non-dilutive fashion.

About SG Blocks, Inc.

Founded in 2007, SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers to design and provide safe, durable and environmentally friendly structures. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel(tm), the structural core and shell of an SG Blocks building, and then is customized to client specifications. It has an exclusive ESR number, which was granted by the International Code Council and ensures its ability to meet and exceed all international building codes. Clients have included various retail clients, several branches of the U.S. military, and most recently, advances into the travel and healthcare space with hospitals and airports. For more information, visit www.sgblocks.com.