THE VINCENTIAN PDF 15/07/2022

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FRIDAY, JULY

15, 2022

VOLUME 116, No.28

Gov’t gave no directive Page 3

www.thevincentian.com

Primus verdict today

Wake: a difference

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EC$1.50

Tribute to Ras Oba

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Luta for New York

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BLACK SANDS PROJECT IN ÂNEW HANDSÊ?

PM AWAITING DETAILS WORD BROKE HERE EARLIER THIS week that yet again, it appeared that ownership of a significant portion of prime land in St. Vincent and the Grenadines was about to move from the hands of one set of foreign investors to another. The indication was that the Blank Sands Resort Project, that began as an undertaking of PACE Developments St. Vincent Inc., but has shown no sign of progress beyond the shells for twelve villas, was being taken over by Star8 Corp. Star8 Corporation (OTCPK: STRH), headquartered in Miami, Florida, is described as ‘a publicly-traded company with expertise in technology and eCommerce-driven solutions’. In a release carried on a number of international news agencies (e.g. finance.yahoo.com, globalnewswire.com) on Monday, Star8 Corp said that it “has signed a Letter of Intent (the “LOI”) to acquire Black Sands Resort operating under the name Pace Developments St. Vincent Inc. through a plan of exchange with an expected closing in the current quarter”. However, in quick response to the ‘development’, Prime Minister Dr. Ralph Gonsalves moved to bring some clarity to the situation. He said on radio that he was awaiting information on the details of what had been carried by the international news agencies. He explained, though, as if to give perspective to the ‘takeover’, that what he was assured of was that with respect to the Black Sands project, “ a company has an Alien Land Holding Licence with conditions attached to that licence. “ He went on further to say that while one company can take over another, “..the operational company may well be the same company which has the alien landholding licence.” In its release, Star8 Corp said in addition, that Pace Developments St. Vincent Inc. owned 45 acres of land at

Breaking ground in January 2017 for the construction of the EC$60 million Villa/Hotel Development Project – the Black Sand Resort. The party included Prime Minister Dr. Ralph Gonsalves (2nfd from right) and Joseph Romano, Chief Executive Officer of Pace Developments St. Vincent Inc. (centre) Peter’s Hope in St. Vincent and the Grenadines and that The twelve “…construction has unfinished villas already begun on the – the only luxury Black Sands construction for Hotel, which will which Pace eventually house 450 could take some rooms, on the 45 acres responsibility. of land at this site.” Continue on page 3


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