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Wednesday February 18, 3:28 pm Eastern Time
Company Press Release
SOURCE: Peacock Financial Corporation
Peacock Financial Corporation Announces Shareholder Approval of Debt Financing
SAN JACINTO VALLEY, Calif., Feb. 18 /PRNewswire/ -- Peacock Financial Corporation (OTC Bulletin Board: PFCK - news) announced today it has received shareholder
approval of a $50 million debt financing for real estate acquisition and development arranged by the Hawthorne Group, Ltd., an international fund management firm headquartered in
Nassau, Bahamas.
Under the terms of the binding contract, Hawthorne will receive a 50% interest in Peacock Financial Corporation in the form of new shares to be held for long-term investment purposes.
All necessary documents and approvals are currently in escrow and, according to Steve Peacock, president of Peacock Financial Corporation, the initial funding of $10 million is
expected in the near future.
Mr. Peacock is quoted as saying ''We are very excited, not only about the opportunities that already exist for the Company here in Southern California, but also the role that Peacock
can play on a global basis as part of the Hawthorne Group, Ltd. team.
Peacock Financial Corporation is a master developer with substantial assets throughout Southern California controlled as the managing partner of various joint ventures and limited
partnerships. The Company's most recent developments are near the Eastside Reservoir, a $3 billion recreational lake currently under construction by The Metropolitan Water District of
Southern California in central Riverside County.
The information contained in this news release contains certain forward- looking statements that involve risks and uncertainties, such as the statements of the Company's plan, objectives,
intentions and, in particular, its expectation of getting funded by Hawthorne Group, Ltd. The Company's actual results could differ materially from those indicated by such statements as a
result of various factors, many of which are outside control of the Company, including those discussed in the Company's Form 10-KSB and Form 10-QSB on file with the SEC.
SOURCE: Peacock Financial Corporation
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