Diversified Equities International, Inc. Closes Hotel Purchase.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 18, 2002 The Directors of Diversified Equities International Inc. (Pink Sheets:DVEI) hereby announce that the acquisition of the hotel and pub property (the "Property") in Surrey, British Columbia Surrey is a Canadian city in the province of British Columbia that lies within the Metro Vancouver district, and geographically at the centre of the larger region known as the Lower Mainland of BC. It is the province's second-largest city by population after the city of Vancouver. has been completed. This news release is further to an announcement made on October 1, 2002. The acquisition was made possible after the conclusion of a short term loan for C$2 Million, a loan which will be paid down from the proceeds of an ongoing private placement of convertible debt. The Directors and the management of Diversified Equities are now working towards a detailed property enhancement plan, which will be disclosed shortly. In addition to upgrading the existing property, the Directors are seeking other similar acquisitions in a segment of the British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography market, which promises both value and yield. Cautionary Statement: This press release contains certain statements, which are deemed "forward-looking" by their very nature. It is important to emphasize that all forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contain possible developments in the future which may never materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. or materialize only in part. With respect to forward looking statements and with respect to other usual due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. benchmarks, investors and advised to obtain qualified, independent advice prior to investing in shares of the Company or trading such shares in the public markets. On Behalf of the Board of Directors Director and Corporate Secretary Francoise R. Otto Otto, Austrian archduke Otto: see Hapsburg, Otto von. |
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