BioTherapeutics Corp. Announces Acquisition.LARKSPUR Larkspur, city, United States Larkspur, city (1990 pop. 11,070), Marin co., W Calif., a prestigious residential suburb of San Francisco near Mt. Tamalpais; inc. 1908. The region's scenic beauty and excellent beaches attract many visitors. , Calif.--(BUSINESS WIRE)--Nov. 6, 1996--Martin Newman, president and chief executive officer of BioTherapeutics Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : BTEX BTEX Benzene, Toluene, Ethylbenzene, and Xylenes (volatile organic compounds) ), has announced the acquisition of Marin Land and Development Trust. Terms of the agreement state the company paid $8 million for 100% of the Trust and its assets, in a combined stock and cash transaction. The Trust has developed a large residential tract of land in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and is scheduled to build over 2,000 single family homes at the average sales price per home of $225,000. The gross value of the project over 5 years is $450 million and will result in a retained asset of over $45 million. After completion of the second 10-year building phase, retained assets are expected to exceed $120 million. Alexander Myers, president of Marin Land and Development Trust, has stated, "Initial construction for the project will begin within the first quarter of 1997." CONTACT: Gerald Communications Gerald Sterchi, 916/854-4931 email: gerald@softcom.net http://www.geraldsnet.com |
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