Subj: Peacock Financial Announces Investment in 1st Miracle Group
Date: 3/1/00 7:48:52 AM Pacific Standard Time
SAN JACINTO, Calif.--(BUSINESS WIRE)--March 1, 2000--Peacock Financial Corp. (OTCBB:PFCK), a publicly owned investment holding company, announced today that it has made an strategic investment in the Canadian-based movie production company 1st Miracle Group Inc. (OTCBB:MVEE).
"I am pleased to announce that Peacock Financial has entered into an investment agreement with 1st Miracle," states Steven R. Peacock, president and CEO of Peacock Financial. "The financial component is a bridge loan package totaling $300,000. We are also submitting a proposal to provide technical assistance, through our DOTCOM Ventures subsidiary. Peacock Financial will help 1st Miracle to establish a new digital entertainment division, which will develop the first effective e-commerce and Internet marketing presence in the movie business."
"To date, Hollywood has not fully understood the power of e-commerce and the Internet, but we think that it will very soon and we want to be well positioned to capitalize on it," said Tony Cataldo CEO and chairman of 1st Miracle Group.
This relationship represents a continuation of Peacock Financial's strategy of actively investing in and developing entertainment related enterprises that the company believes offer exceptional value to its shareholders in the medium to long-term. It also demonstrates Peacock's ability to identify opportunities where it can provide assistance to developing companies.
Peacock adds, "We believe that 1st Miracle offers a unique opportunity within the entertainment industry for several reasons. The company has several completed movies valued at $50 million ready for distribution and plans to complete five more films this year. This is all very exciting."
1st Miracle Group Inc. is an independent and diversified movie production company led by CEO and Chairman Anthony Cataldo. On Feb. 16, 1st Miracle Group announced a corporate restructuring plan with K-9 Protection Inc. Once these steps are completed, the company expects to become eligible for listing on the NASDAQ market based on its audited net worth and revenue figures.
Peacock Financial Corporation is a venture capital fund that supplies significant managerial assistance to selected portfolio companies, assisting in their efforts to become successful, fully reporting companies, listed on various exchanges. Peacock takes a significant equity position and provides the Portfolio Company with management expertise and the funding necessary to successfully develop the company, and execute its business plan. Peacock is registered with the SEC as a Business Development Corporation under the Investment Company Act of 1940 and currently holds investments in professional sports and the Internet, including Solutions Media Inc. and the San Diego Soccer Development Corp. (Pink Sheets:SDSD). The Company is also active in land development in and around the San Jacinto Valley, in western Riverside County, Calif.
Peacock's goal is to invest in and develop promising companies, and as they mature, take them public through either an initial public offering (IPO) or a reverse merger with an existing public shell. Peacock's strategy is to remain a minority shareholder after the portfolio companies have become publicly traded. Peacock typically dividends "spin-off" shares to its shareholders. This way, PFCK shareholders can have access to shares in promising companies before they ever go public.
Safe-harbor statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. This information is not a recommendation to buy or sell securities of PFCK. Merger Communications (Merger) is a media relations firm employed by PFCK. Merger and PFCK believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. Merger Communications, its officers, directors and employees own 130,000 shares of PFCK common stock. Merger typically has a long position in the securities of the companies in which it distributes information, and Merger may be buying or selling securities in the course of its regular business. For more information on Merger's services, visit mergerusa.com.
CONTACT:
Merger Communications, Houston
Investor Relations: David Drake, 713/572-2560 Ext. 100
E-mail: ddrake@mergerusa.com
or
Media Inquiries: Theresa Rasmussen, 713/572-2560 Ext. 111
E-mail: trasmussen@mergerusa.com
or
Stock Enterprises (PFCK Investor Relations)
Jim Stock, 702/614-0003
Company Website: peacockfinancial.com
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