FOR IMMEDIATE RELEASE
DECEMBER 9, 2022
Subj: MEMORANDUM RECISSION
For the purposes of this Memorandum and making certain immediate
changes to the Memorandum issued on February 28, 2022, “The Making of Urban
Ground Resort,” I am rescinding the February 28, 2022, Memorandum effective
immediately to address changes in the development and operations of Urban
Ground Resort & Residence for the reasons outlined below.
Urban Ground Resort & Residence began as Urban Ground Bar
& Grill and the idea for Urban Ground Bar & Grill were to fill a void
in the Los Angeles urban and black gay demographic. Beginning sometime in 2012
many of the Los Angeles area gay establishments that catered to the gay black
urban experience were closed for various reasons and as of this date, to our
knowledge, there remains no major dedicated or regional space for the black gay
urban experience in Los Angeles, California.
Urban Ground Resort & Residence is now a proposed luxurious
Vegas styled gay resort and private residence open to guest 18 years of age and
older to experience the amenities, services, and attractions of a premier
resort destination featuring premium showcase events, live entertainment, a
shopping promenade, an entertainment district, a man-made beach, a cineplex, a
redlight district, bars, restaurants, nightclubs, hotels, resorts, and more.
Plus a private residential gay community for up to 36k residents making us a
premier gay destination.
On December 5, 2022, Urban Ground Resort, LLC, to Village Resorts
Hospitality Group, LLC, parent Company to Urban Ground Resort, LLC, amended and
modified their proposal for Urban Ground Resort & Residence. Per Urban
Ground Resort, LLC, request and amended proposal, Village Resorts Hospitality
Group, LLC, now rescinds their Memorandum issued on February 28, 2022, “The
Making of Urban Ground Resort,” in its entirety hereby approving and adopting
Urban Ground Resort, LLC, Amended Proposal dated December 5, 2022.
For your reference the following changes apply:
The Memorandum issued by Village Resorts Hospitality Group, LLC, on
February 28, 2022, is now considered NULL and VOID in its entirety.
The provisions of this Memorandum are not for the benefit of any
investor, creditor or other person to whom any debts, liabilities or
obligations are owed by, or who otherwise has any claim against, the Company or
any Member, and no investor, creditor or other person shall obtain any rights
under this section or by reason of this section or shall be able to make “any”
claim in respect of any debts, liabilities or obligations against the Company
or any Member shall cause a takeover, hostile or otherwise.
The provisions of this Memorandum are not for the benefit of any
investor, creditor or other person including investors, members, board of
directors, employees, affiliates, or otherwise. No person shall cause a hostile
takeover, meaning any transaction (or one or more related or unrelated
transactions) pursuant to which any “person” (as such term is used in herein
within this offering) is or becomes the “beneficial owner” (as defined herein
within this offering), directly or indirectly, of securities of the company
representing or acquiring more or total ownership or the total voting power
represented by the company including any outstanding voting securities without
regard to whether the managing member or board has approved such
acquisition(s).
Urban Ground Resort, LLC, to include Village Resorts Hospitality
Group, LLC, is a legally registered California Limited Liability Company and
not a race based or social movement organization. Our operations are guided by
the rules, laws, and regulations set forth and are legal, binding, and
forthright.
Urban Ground Resort & Residence is a Village Resorts
Hospitality Group, LLC, property. All rights reserved. All images and concepts
are the property of Urban Ground Resort, LLC, and Village Resorts Hospitality
Group, LLC, and are subject to copyright.
Thank you for your interest in Urban Ground Resort &
Residence, a premier gay destination.
FROM TIME TO TIME, AT OUR SOLE DISCRETION VILLAGE RESORTS HOSPITALITY GROUP, LLC, RESERVES THE RIGHT TO IMPLEMENT, MODIFY, CANCEL, OR CHANGE ANY AGREEMENT AS NECESSARY.
OLIVER B. MITCHELL III
PRESIDENT/CEO
VILLAGE RESORTS HOSPITALITY GROUP, LLC.