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

To: gLondahl who wrote (134)	3/25/1998 1:13:00 PM
From: BILL JAMES	Read Replies (1) \| Respond to of 716

[ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] Wednesday March 25, 12:53 pm Eastern Time Company Press Release SOURCE: Peacock Financial Corporation Peacock Financial Corporation Announces Restructuring of Financial Commitment SAN JACINTO VALLEY, Calif., March 25 /PRNewswire/ -- Peacock Financial Corporation (OTC Bulletin Board: PFCK - news) announced today it has restructured its financing commitment with the Hawthorne Group, Ltd., Peacock's financial partner, whereby the initial $10 million loan commitment will come into the company as equity. According to Wendell Clemons, managing partner of Hawthorne, an international investment fund manager, the decision to convert the $10 million to equity was made in recognition of Peacock's expanding role within Hawthorne's global network of funds, and to assist Peacock in qualifying for and obtaining approval for a listing on Nasdaq. Steven R. Peacock, president of Peacock Financial Corporation, is quoted as saying, "This equity infusion by the Hawthorne Group, Ltd., coupled with the Company's contractual involvement in the 6,500-acre Colorado resort development and the Philippine housing project, reconfirms my position regarding current shareholder value at $6 to $8 per share as I previously stated in the Company's press release dated March 12, 1998." Peacock Financial Corporation is a master developer with 20 years of experience 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 1O-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 More Quotes and News: Peacock Financial Corp (OTC BB:PFCK - news) Related News Categories: banking, real estate Help