ST. PETERSBURG, Fla.,
May 16, 2012 /PRNewswire/
-- American Community Development Group, Inc. (the "Company")
(OTC Pinksheets: ACYD.PK) is pleased to announce that it has
received a funding commitment of up to $1
million from a private equity fund that can be drawn for
working capital and acquisitions over the next year.
The Company has recently drawn $50,000 in the first installment to secure legal,
accounting and short term working capital requirements.
The priority for the use of proceeds is to expand revenue and
cash flow. These funds are earmarked for the completion of
commercial real estate acquisitions that will add increased
capacity for its transitional housing programs and the continued
evolution of several business development projects. There are also
corporate acquisitions, previously announced, that are being
finalized.
This financing is an integral part of the accelerated efforts of
the company to complete its audits, complete all legal and other
requirements in order to qualify for a QX listing.
The Company is also in separate negotiations for additional
capitalization that is acquisition and merger specific for those
larger projects contemplated.
As the Company moves forward to current status on Pinksheets,
there will be announcements regarding additional relationships that
have been under development and negotiation.
Management is also taking steps to better understand the trading
of its stock in the market. The Company will initiate a
regular review of the DTC, shareholder and NOBO lists and arrange
to have those analyzed by competent advisors and or securities
attorneys to understand the narrow trading stock range despite
purchase or sale demand and volume. The Company recently instructed
its transfer agent, Cleartrust LLC, to discontinue providing share
structure info to callers representing themselves as shareholders
as we have been advised that this open access to share structure is
a tool that might be used by professional shorters.
Since 2008, American Community Development Group, Inc. (ACYD)
has been a socially responsible public company that specializes in
profitable real estate investments by acquiring distressed property
and then using these properties as transitional housing centers for
501c3 nonprofit clients. The Company generates increased profitable
rental income by housing clients that are sponsored into such
programs as drug and alcohol rehabilitation, ex-offenders,
homeless, HUD, government assistance and veterans.
We also create and sponsor job creation programs for the
nonprofit community and are currently focused on the Florida West
Coast. We have positively affected thousands of lives including,
but not limited to, Florida. Our
expansion plans include other regional and national
affiliations.
Mission Statement - Rebuilding America, One Life at a Time!
Safe Harbor for Forward-Looking Statements: Except for
historical information contained herein, the statements in this
press release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Reform Act
of 1995. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the company's actual
results in future periods to differ materially from forecasted
results. These risks and uncertainties include, among other things,
product price volatility, product demand, market competition, risk
inherent in the company's domestic and international operations,
imprecision in estimating product reserves and the company's
ability to replace and expand its holdings.
SOURCE American Community Development Group, Inc.