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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Dec 5 9:30 AM EST
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To: barbara sperino who wrote (7343)7/22/1998 4:58:00 PM
From: Too_Bad_PRWT  Read Replies (8) of 43774
 
Subject:
FOR YOUR INFORMATION
Date:
Wed, 22 Jul 1998 14:09:31 -0600
From:
bis <bis@belize.gov.bz>
To:


PRESS RELEASE

It has come to the notice of the Ministry of Home Affairs and Housing that a certain foreign company by the name of 'PAN AMERICAN BAN CORPORATION' is advertising on the internet that it is in the process of conducting mortgage banking in Belize through its wholly-owned subsidiary "Affordable Housing Group Ltd". A press release from the company further states that it has already received some six thousand mortgage applications from Belizean citizens and that the Government of Belize has guaranteed these mortgages.

The Ministry of Home Affairs and Housing wishes to inform the public that the Government of Belize is in no way associated with this company nor has it given the company any mortgage guarantees. While the Government of Belize welcomes foreign investment, it will give its official approval to an investment project only after it has satisfied itself of the viability and genuineness of the project.

The Ministry is not aware of any mortgage applications being processed by this company nor of any licence having been issued to the company by the Central Bank of Belize to conduct mortgage banking.

Members of the public are therefore advised to exercise due prudence and diligence before making any investment with this company.


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