SG Blocks Providing Modular Buildings in New Mexico

“SG ECHO to Commence Manufacturing in Q4 2020”

NEW YORK--(BUSINESS WIRE)--SG Blocks, Inc. (NASDAQ: SGBX), and its manufacturing subsidiary, SG ECHO, have executed a $2.9 million contract to deliver seven (7) modular buildings in New Mexico. The building units will be manufactured in SG ECHO’s Durant, Oklahoma factory, commencing in Q4 2020, and are projected to be substantially completed in Q4 2020 and installed on site in New Mexico in Q1 2021.

“High quality and speed to market are the key components of modular construction, in this instance, we are pleased to be helping a community to achieve its goals on time and on budget,” said Paul Galvin, Chairman and CEO of SG Blocks.

To learn more about SG Blocks visit sgblocks.com.

About SG Blocks, Inc.

SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. 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™, the structural core and shell of an SG Blocks building, and then customized to client specifications. For more information, visit www.sgblocks.com.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding seven modular buildings being substantially completed in Q4 2020 and installed on site in New Mexico in Q1 2021. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to build and deliver the seven modular buildings as planned, the Company’s ability to position SG Blocks for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.