SARASOTA, Fla., Aug 9, 1999 (BUSINESS WIRE via COMTEX) -- DRG, Inc.,
d/b/a Diversified Resources Group, Inc., (Nasdaq OTC BB:DRGI), a
Sarasota, Florida based company, announced today that it has finalized
an Agreement with Ocean Golf Group for the sell of the Golf Course and
Destination Hotel property tracts within the Company's Falls River Real
Estate Development.
The Agreement calls for Ocean Golf Group to construct an 18 Hole
Championship Level Public Fee Golf Course, and a 200+ room Luxury
Destination Hotel on the property. Under the Agreement, Ocean Golf
Group will pay DRGI $2,000,000 for the property.
The Championship Golf Course is being designed by Robbins & Associates,
the nationally acclaimed golf course design company out of Cary, North
Carolina.
Falls River is currently designed for 1600 units, a commercial center,
a neighborhood shopping center, an office complex, an 18 Hole
Championship Golf Course, and a 200+ room Luxury Destination Hotel.
Homes in the Falls River development will sell for $200,000 to $400,
000.
This press release shall not constitute an offer to sell securities
under an exemption from registration pursuant to Regulation D, Rule 504
of the Securities and Exchange Commission. Statements regarding the
company's expectations about new and exciting products, future
financial performance and other forward looking statements are subject
to various risks and uncertainties, including, without limitation,
demand and acceptance of new and exciting products, technological
advances and product obsolescence, competitive factors and the
availability of capital to finance growth.
Log on to www.diversified-resources.com
Copyright (C) 1999 Business Wire. All rights reserved.
CONTACT: Diversified Resources Group, Inc., Sarasota
Carl Smith, III, 941/923-1949
www.diversified-resources.com |
