Commonwealth American Financial Group Announces Closing Date for Land Development Acquisition.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Commonwealth American Financial Group, Inc. (Pink Sheets:CWFG) announced today that the closing date for the acquisition for a 56 acre parcel of land in North Central Florida North Central Florida is a region of the U.S. state of Florida. It comprises the north-central part of the state and encompasses Alachua, Bradford, Columbia, Gilchrist, Hamilton, Lafayette, Madison, Marion, Putnam, Suwannee and Union counties. is 10th February 2006. Commonwealth American Financial has previously executed signed contracts to acquire 56 acres of land in North Central Florida with the Sellers. The 56 acre parcel of land will be developed and sub divided into equal sized lots and will be sold to prospective purchasers or builders. The closing is dependant on Adj. 1. dependant on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant upon, dependent on, dependent upon, depending on, contingent Commonwealth receiving satisfactory title, appraisals and other legal obligations necessary to ensure that closing can take place. The 56 acre property is located in a very high growth area of North Central Florida. Prices in the region have steadily increased due to fantastic growth in the Florida real estate market. The company expects to make a very high return on investment. Ms. Ryals, President 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. , said: "We look forward to the closing date of this development. I have visited the site several times and I am confident that we can develop and produce very attractive building lots for sale. The market in Florida continues to offer these types of opportunities for the corporation and its shareholders. The property is situated in a very attractive neighborhood and the relative price comparables offer us both equity in the property, and high yield returns once development is completed." 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 opportunities. 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.cwfgroup.net and trades under the symbol (Pink Sheets:CWFG). 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 manage growth, acquisitions of technology, equipment, or human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. , 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. |
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