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Microcap & Penny Stocks : PFCK Gets $50 million cash infusion -- Ignore unavailable to you. Want to Upgrade?

To: LPasko who wrote (11)	2/23/1998 5:43:00 PM
From: BILL JAMES	Respond to of 716

[ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] Monday February 23, 2:31 pm Eastern Time Company Press Release SOURCE: Peacock Financial Corporation Peacock Financial Corporation Announces Joint Venture with Sargonne International Real Estate Investment Trust SAN JACINTO VALLEY, Calif., Feb. 23 /PRNewswire/ -- Peacock Financial Corporation (OTC Bulletin Board: PFCK - news) announced today it has signed a Letter of Intent to form a joint venture with Sargonne International Real Estate Investment Trust, an investment fund managed by Peacock's current capital partner, Hawthorne Group, Ltd. Under the terms of the Letter of Intent, Sargonne will commit no less than $40 million and Peacock will receive an equity position in the joint venture for its role as overseer of the real estate assets to be purchased and/or developed internationally. Steven Peacock, president of Peacock Financial Corporation, stated that the joint venture relationship with Sargonne was anticipated as part of the unfolding of Peacock's expanding role as the real estate management arm of the Hawthorne Group, Ltd., an international fund management firm headquartered in Nassau, Bahamas. Sargonne International Real Estate Investment Trust was formed by Hawthorne Group, Ltd. for the purpose of investing in United States real estate and international properties including defaulted debt and other securities. According to Mr. Peacock, the joint venture has major contracts in negotiation with several foreign countries to provide housing and other facilities. 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 Hawthorne Group, Ltd. and Sargonne International REIT. 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 More Quotes and News: Peacock Financial Corp (OTC BB:PFCK - news) Related News Categories: banking, real estate