Beacon Redevelopment Industrial Corporation Confirms No Need of Funding Through the Sale of its Equities
2008年8月18日 - 10:02PM
PRニュース・ワイアー (英語)
NORTH HUNTINGDON, Pa., Aug 18 /PRNewswire-FirstCall/ -- Beacon
Redevelopment Industrial Corporation (OTC:BCND) today announced it
has received several inquiries from its shareholders regarding the
sale of equities to fund the company's recent acquisitions and the
company has elected to elaborate. The company receives no less than
three to four unsolicited offers a week to finance its operations
(from major investors and investment bankers) with certain
instruments such as convertible debentures, regulation 504
exemptions and other detrimental financing options, executive
management always and continually will reject these unfavorable
methods of financing for any and all of its financing needs. The
company will continue to rely on traditional methods of financing
i.e. bank financing, owner financing or company funds, as it is the
company's belief that if their acquisitions can not stand on their
own merits and utilize traditional sources of financing in any
market conditions, it is not a project that they should get
involved with. The company's recent three acquisitions
(Westmoreland Glass factory and Multiple Parcels of land totaling
259.5 acres) have been funded through a combination of seller
financing and cash investments by the company's principles. The
investments by the company's principles are interest free and
secured by restricted stock for two years. "The company will not
and never will under any circumstances submit to any type of death
spiral financing; it is the intent of our company to build a viable
and profitable company on the merits of its acquisitions/projects,"
said Mr. Adam Merek, President. Mr. Marek also added that, "The
principles are seasoned real estate investors/developers and
builders, not stock salesman. When management took over this public
company they reviewed the entire history and decided that we can
increase shareholder value even though it was a calculated risk
regarding the past management and its history. The principle's
advisors recommended a reverse split and all of the principles
agreed if we have to hurt the shareholders we have no interest and
will never have that interest. The principles all agreed that
regardless of past management we will deal with it and restore
shareholder value with a real and viable business. We evaluated it
and decided to go with it and chose a course of action. We feel
good about where we are at this point and more importantly we have
only begun to enhance shareholder value. To date we have at least
regained a sustained bid and are bringing real assets and real hope
of potential returns for shareholders investments, with much more
to come." About Beacon Redevelopment Industrial Corporation: Beacon
specializes in acquiring undervalued properties that offer the
potential for above average return on investment along with
multiple assets and development ability at distressed prices, the
properties must offer recyclable/salvageable materials along with
the potential for redevelopment and or desirable development
potential; the company also seeks along with the above for
mentioned, properties that have the possibility for governmental
grants, tax rebates or deferments as part of their criteria for
acquisition. Please visit the company's website at
http://www.beaconredevelopment.com/ for all the latest information
and updates. This press release contains certain forward-looking
statements. All forward-looking statements in this press release
are based on information available to the company as of the date
hereof, and the company undertakes no obligation to update
forward-looking statements to reflect events or circumstances
occurring after the date of this press release. DATASOURCE: Beacon
Redevelopment Industrial Corporation CONTACT: Adam Marek for Beacon
Redevelopment Industrial Corporation, +1-724-871-7458 Web site:
http://www.beaconredevelopment.com/
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