Building works to resume at Aheloy Resort

Building works to resume at "Aheloy Resort"

Construction permits and documentation is in order for
building P,N and M

Preparation process is well underway and all necessary
arrangements are made with the construction
supervisor, architect and investor control teams

Signed "Letter of Intent" for the execution of
finishing works at "Aheloy Resort" with the preferred
construction company - San Marko LTD. We expect to
enter into a final agreement soon.

San Marko believes in the development and sees
opportunity to profit by owning units in "Aheloy
Resort". BSP Agreed on partial interception payment to
the contractor with apartments in building "N" at a
price of EUR 500 per sq. m without VAT.

BSP considers selling at a preference price 30
additional units at a price of EUR 500 per sq. m
without VAT in order to provoke initial interest
towards the development using Real Estate network
connection of the construction Company

Prior to opening additional 50 units are projected to
be sold to Clients

"Aheloy Resort" is scheduled to partially open(P,N and
M) and operate for the full 2017 summer season

Please see attached document for full report

For more information please contact:
Torbjørn Myhre, CEO Black Sea Property AS
Tel:+47 95257235
E-mail:tm@fenixsecurities.no