Commonwealth American Financial Announces Final Joint Venture Negotiations.ST. PETERSBURG, Fla. -- Commonwealth American Financial Group, Inc. (Pink Sheets:CWMF) announces that it is partnering with two demolition and environmental rehabilitation contractors to bid on rehabilitation work in the New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , Biloxi Hurricane affected areas. The Joint Venture negotiations are being finalized between Hawkesbury River Funding of Texas, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Commonwealth American Financial, and two existing corporations from the Texas and Kentucky regions. Both companies have extensive experience with demolition and environmental rehabilitation, and have existing materials and equipment established in the affected areas. While the mission of Commonwealth American Financial Group, Inc. is to invest in land development projects either as developer, joint venture partner, or lender and create mezzanine financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the opportunities, the opportunities that are presenting themselves are such that companies like Architects, engineering companies, and debris removal companies need partners to fund their work which will be paid by either FEMA FEMA, n.pr See Federal Emergency Management Agency. or private insurance carriers. Damian Guthrie, president of Commonwealth American Financial Group, Inc. said: "Whilst it is early days in the clean up effort much work is yet to be carried out in the regions affected. Commonwealth American Financial is looking to establish a satellite office in the next few weeks in the New Orleans area to utilize as our communication point for contract negotiations and project management offices to enhance our presence." The company will also grow by acquiring subsidiaries in related fields such as construction, real estate brokerage-appraisal-management, in Florida, Texas and Louisiana. The Company has established a website http://www.cwmf.net and trades under the symbol (Pink Sheets:CWMF). FORWARD-LOOKING STATEMENTS: This information includes forward-looking statements made pursuant to the 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. provisions 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 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to mange mange (mānj), contagious skin disease of domestic and wild animals. The several types of mange, including follicular and sarcoptic mange, are caused by various minute parasitic mites that burrow into skin, hair follicles, or sweat glands. growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this issue. |
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