Empyrean Holdings, Inc. Announces Groundbreaking in Wisconsin.HOUSTON -- Empyrean Holdings Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EPYH), a national real estate holding company, announced today that together with its business partner, United Construction Group (UCG UCG United Church of God UCG Underground Coal Gasification UCG University College Galway UCG Unified Communications Group (Microsoft) UCG Universal Command Guide for Operating Systems (Guy Lotgering book) ), it has broken ground on its project in Kewaskum, Wisconsin Kewaskum is a village located mostly within Washington County, Wisconsin. The population was 3,274 at the 2000 census. The village is located mostly within the Town of Kewaskum. On May 21, 2003, the village annexed a portion of land in the Town of Auburn in Fond du Lac County. . Kewaskum is one of the fastest growing communities in Wisconsin, and this project is the largest real estate development plan in the area. The plan contains over $50 million of mixed retail, commercial and residential construction. Several of the residential sites are already under construction and site engineers have now begun initial earthmoving to prepare the mall site for construction which is estimated to begin within three months. Pictures and diagrams of the construction will be posted on Empyrean's website in the coming weeks. 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. Robert L. Lee stated, "We are very excited about this project due to the economic impact on the area, the amount of interest that has been received from potential tenants, and our forecasted profit potential. The mixed-use plan assists us to mitigate risk and allows us to enhance the location in such a way that it is significantly improving a very beautiful area of the state that receives a tremendous amount of tourism. We expect to see double-digit returns on this investment over the next several years." Note: "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. " Statement Under 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: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
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