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

To: Ryan Yu who wrote (238)	4/22/1998 1:47:00 PM
From: BILL JAMES	Read Replies (1) \| Respond to of 716

[ Business \| US Market \| Industry \| IPO \| S&P \| International \| PRNews \| BizWire \| Finance Home ] Wednesday April 22, 12:33 pm Eastern Time Company Press Release SOURCE: Peacock Financial Corporation Peacock Financial Corporation and Hawthorne Group, Ltd. Announce the Execution of a Binding Contract SAN JACINTO VALLEY, Calif., April 22 /PRNewswire/ -- Peacock Financial Corporation (OTC Bulletin Board: PFCK - news) and Hawthorne Group, Ltd. jointly announced today the execution of a binding contract to provide financial guarantees for the developer of a 600-acre residential community known as Duck Creek, near Dallas, Texas. A financial guarantee in the amount of $1,000,000 will be provided by Sargonne International REIT, a real estate investment fund managed by Hawthorne Group, Ltd., Peacock's new capital partner and major shareholder. Peacock Financial Corporation will, in turn, receive a 45% equity participation in the project and will receive a project overview fee from the construction financing during development. Steve Peacock, president of Peacock Financial Corporation, stated that the property will be subdivided into approximately 1,000 lots and a 50-acre campground with a clubhouse and swimming pool. Construction is expected to commence in the early fall of this year. According to Mr. Peacock, ''A professional development team for the project is already in place including legal, engineering, construction, sales and marketing, and permanent financing for the purchasers of the lots. The property is located 41 miles east of Dallas and 1.5 miles from Lake Tawakini, a popular fresh water fishing and recreational lake. The property itself contains rolling hills, trees and 14 smaller fishing lakes.'' 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 1O-KSB and Form 1O-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