Diversified Equities Proceeds to Close Hotel Purchase.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 1, 2002 The Directors of Diversified Equities International, Inc. (Pink Sheets:DVEI), hereby announce that further to the finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of a purchase agreement for a hotel and pub complex (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. , Diversified Equities has signed a Commitment Letter to receive a medium term loan in order complete the envisaged purchase. Later this month, Diversified Equities will close the ongoing private placement for its Secured Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. and, upon completion of the property acquisition, continue to seek additional high yielding, quality assets in Canada. Diversified has already forwarded an amount in excess of US$ 1.4 million towards closing the purchase of the property; the medium term loan will be for a total amount of US$ 1.275 million. The property is currently valued in excess of US$ 5 million with ample room for upgrades with minimum capital input. The property is in a vibrant real estate segment of the Canadian economy. In 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 , property values have surged in recent months and the outlook remains healthy. The management of Diversified Equities is committed to seeking attractive commercial properties which possess growth potential either by the overall development of its locations (e.g. Surrey) or by internal expansion. 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 are 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 |
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