Kali (OTC: KALY) this morning said it was awarded a contract with Harbormaster Development through which Kali will manage the development and ongoing operations of a $10 million Caribbean marina in Puerto Rico. Per the agreement, Kali will receive a management fee of $1 million for the development phase of the project, along with various performance incentives that could lead to more revenue. The agreement also includes an equity participation option for Kali. The overall term of the contract is five years, with the services agreement transitioning to operational management at the end of the development phase. The project is scheduled to start in 2017 and continue into 2018.
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About Kali Inc.
Kali Inc.’s goal as a company in the marine services industry is to grow through opening new markets and acquiring other providers that can complement its existing services. In an industry where there is no clear leader, Kali believes there is opportunity to build a comprehensive marine lifestyle services company that services the needs of an expanding market. To learn more about Kali, visit the company’s website at: www.wavemarineservices.com
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