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Tuesday March 3, 12:07 pm Eastern Time
Company Press Release
SOURCE: Peacock Financial Corporation
Peacock Financial Corporation Signs Binding Contract with Gillman Investment Trust and First Atlantic
Fund, Ltd.
SAN JACINTO VALLEY, Calif., March 3 /PRNewswire/ -- Peacock Financial Corporation (OTC Bulletin Board: PFCK - news) announced today it has signed a binding contract
with Gillman Investment Trust and First Atlantic Fund, Ltd. (''FAF''), an international investment fund managed by Peacock's nww capital partner, Hawthorne Group, Ltd., for the
development of a 6,500-acre resort and natural resource project near Vail, Colorado.
Peacock's participation will consist of fee income and an equity position in the development as Project Oversite Manager for First Atlantic Fund, Ltd. Under the contract, FAF will
provide a $55 million Letter of Credit to guarantee a development loan and, in turn, FAF and Peacock will share equally a forty-five percent (45%) interest in the project.
According to Steve Peacock, president of Peacock Financial Corporation, the project known as The Vail Valley Resource Company includes vast natural resources such as timber,
water and precious metals, as well as a proposed ski resort, an existing town and approximately 2,500 acres to be master planned for residential and commercial development,
The Hawthorne Group, Ltd., currently in escrow to be a major shareholder in Peacock, manages various international investment funds with total assets in excess of $13 billion and is
headquartered in Nassau, Bahamas. Mr. Peacock is quoted as saying, ''This project represents a substantial asset to the Company and further confirms Hawthorne's stated plan to
include Peacock in its real estate investments both domestically and internationally.''
Peacock Financial Corporation is a master developer with a twenty-year background in master planning, various forms of housing and inner-city redevelopment projects. 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 Gillman Investment Trust and FAF. 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.
For further information, please contact the company's president, Steven Peacock, at 909/487-8911.
SOURCE: Peacock Financial Corporation
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