CyberAmerica Corp. makes announcement.SALT LAKE CITY--(BUSINESS WIRE)--June 25, 1996--CyberAmerica Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CYAA)(BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :CYA CYA Cover your ass. See Defensive medicine. ), through 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. , has signed a three year option to purchase approximately 47,000 acres of land from Chournos Land and Livestock. The land is located in Box Elder County, Utah Box Elder County is a county located in the U.S. state of Utah. It lies on the north end of the Great Salt Lake, covering a large area north to the Idaho border and west to the Nevada border. . If CyberAmerica chooses to exercise their option, they will have the option of purchasing the property for approximately $1.8 million. This option also includes all oil, gas and mineral rights, including any existing rights of development or leases. If CyberAmerica exercises their option, this will increase their real estate holdings to more than 48,000 acres of land, 270,000 square feet of office and retail space in Salt Lake City, and 1.3 million square feet of industrial real estate across the country. CyberAmerica believes that with the Olympics coming to Salt Lake City in 2002, the potential for appreciation of this property will be immense. CyberAmerica has considered the possibility of subdividing the land and selling it. CyberAmerica is a diversified public company specializing in the development of cyber products, financial consulting and real estate investments. CONTACT: CyberAmerica Corp., Salt Lake City Matthew Crocker, 800/745-6467 E-mail: canton@cybermalls.net |
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