Ashby Corp.: Update from Hans J. Schutte, Chairman and CEO.Business Editors SCOTTSDALE, Ariz.--(BUSINESS WIRE)--April 26, 2004 Ashby Corp. Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AHBY) has made tremendous progress in moving our business plan forward. As our project is attracting increased attention, the company has made several accomplishments and is near completion of the first phase of the project. The company is developing a world-class state-of-the-art film, television, and music recording facility and movie theme park. Establishing itself as the premier entertainment facility in the entire Caribbean basin, the complex is situated at a 3,500-acre "decommissioned" U.S. Air Force base in Freeport Grand Bahama Island. There are many additional aspects to this project, which include a 130-room five-star resort hotel, a water park, a Bahamian Village where native artisans can display and sell their products, theme restaurant, merchandising and concession outlets and studio tours. Hans Schutte, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "With this project and the studios in place, there will be a whole new realm of possibilities for producers and production companies in the industry. I am pleased with our progress to date, in our efforts to provide a world-class production/film studio theme park. Furthermore, we have the full support of the Bahamian government which is evidenced by the signing of a Heads of Agreement Heads of Agreement A non-binding document outlining the main issues relevant to a tentative partnership agreement. Notes: It is the draft used by lawyers when drawing up the contract. It serves as a guideline for both parties before any documents are legalized. with our subsidiary, Gold Rock Creek Enterprises, Ltd., leading to a $70 million investment for the development of this world-class project." The company has also retained Crosscheck cross·check tr.v. cross·checked, cross·check·ing, cross·checks 1. To verify by comparing with parallel or supplementary data. 2. Capital for investor relations Investor relations The process by which the corporation communicates with its investors. services and to develop awareness and support within the financial community. Crosscheck Capital is a leading investor and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm servicing the needs of micro and small-cap publicly traded companies. About Ashby Corp. Ltd. Ashby Corp. Ltd. is a leading company in the financing of creative entertainment projects. Ashby distinguishes itself by creating meaningful differentiation in high-quality family entertainment for an ever-changing world. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Ashby Corp. Ltd. has little or no control. |
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