NewsBlaze logo
Newsletter logo   Search News     Daily News   
web2.0 logo   win logo
Published:

AARD Signs Letter of Intent for an Additional $10 Million

Completion Brings Up to $30 Million in Project Financing

Across America Real Estate Corp. (OTC BB: AARD) ("Across America"), a 100% finance partner to retail developers and franchisees, announced it has signed two non-binding letters of intent each for $10 Million in funding, which, if both completed, would make up to $30 million in capital available for Across America to deploy to provide 100% financing to its single pad triple net developers and national retailers.

"Across America Real Estate is excited to enter into these two non-binding agreements for an additional $10 million dollars of funding to expand current business operations with the goal of increasing revenues and net profits," said Alex Lagerborg, President and CEO of Across America Real Estate. "This additional capital would be divided in each case into $7 Million Dollars of senior subordinated notes and $3 Million Dollars in convertible preferred stock. The rate of the senior subordinated notes will float over the ten year Treasury Note and the convertible preferred stock will have a conversion price at $3.00 per share, without a provision to reset the price at a lower value per share in the future." Lagerborg continued, "This funding allows us to apply the model we have built and multiply it several times over and would help to support over $25 Million in current construction financing to build small box developments."

This funding, if completed, would provide Across America with Ten Million Dollars of senior subordinated debt from GDBA Investments LLP, which at the present is all subordinated debt and will be recast as Seven Million Dollars in senior subordinate debt, and Three Million Dollars as convertible preferred stock whose terms will mirror the terms and conditions of the new capital and an additional Ten Million Dollars, from an undisclosed source for Seven Million Dollars in senior subordinate debt, with Three Million Dollars as convertible preferred stock. The current Ten Million Dollars of senior debt from Vectra Bank of Colorado would remain in place.

Across America has served national retailers such as Lone Star Steakhouse and Saloon, International House of Pancakes, Checker Auto Parts, Family Dollar Store, Advance Auto Parts, Grease Monkey International, and other single pad, triple net, small box retailers.

About Across America Real Estate Corp.

Based in Denver, Colorado, Across America Real Estate Corp. (OTC BB: AARD) partners with national retailers and their developers to provide 100% financing for rapid retail expansion. The Company operates in the niche that is small pad retail market in the commercial real estate industry. Across America provides guidance and creates financing solutions for increasing retail productivity and profit. Please visit us at our website www.aard.us

The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in AARD's Securities and Exchange Commission filings; completion of due diligence and certain other pre-closing conditions for all incomplete transactions; economic downturns affecting the operations of AARD, its subsidiaries or proposed transactions; the inability to initiate or complete any transaction; adverse financial performance by AARD or any of its subsidiaries; adverse equity market conditions and declines in the value of AARD common stock; and the unavailability of financing to complete management's plans and objectives. The forward-looking statements contained in this press release speak only as of the date hereof and AARD disclaims any intent or obligation to update these forward-looking statements.


Distributed by Market Wire

Tags: ,FinancialServices:Commercial and InvestmentBanking FinancialServices:InvestmentOpinion;FinancialServices:InvestmentServicesandTrading;FinancialServices:VentureCapital;RealEstateandConstruction:CommercialRealEstate;RealEstateandConstruction:ResidentialRealEstate;,CO,DENVER, CO
   _   _

  care2 logo   digg logo   newsfeeder logo   netscape logo  
Is your favorite bookmark site missing? Ask for it.
marker


Sponsor Links:
Writers Wanted
Help NewsBlaze provide daily news, including top stories, Home and Garden, Technology, The Environment and more. NewsBlaze Writer
Relevant Sites:

NewsBlaze 

Copyright © 2004-2008 NewsBlaze LLC
Use of this website is subject to our Terms of Service and Privacy Policy       Support    Press Room