ParaFin Corporation's Partner, Resource Development Group, Inc., Confirms EUR 25 Million Cost for Spa Project in Eastern Turk...
September 26 2012 - 11:15AM
Marketwired
ParaFin Corporation (PINKSHEETS: PFNO) (ISIN:
US69912M4006)
-- The
Resource Development Group, Inc. has confirmed to
ParaFin "That the investment for the first phase of the project
totals EUR 25 million with a portion of this amount being covered
by subsidies from the European Union and local governments.
"A heated spring with medicinal waters is on the property which
has existed for over 800 years and is known throughout Turkey for
its therapeutic properties. The mineral water, that is very rich in
bicarbonate, chlorine, sodium and carbon dioxide, flows out the
ground at temperatures between 39 and 45 degrees Celsius direct
into the spa town. The water is used for medicinal drinking and
baths and helps in the rehabilitation of rheumatism, and psychic
exhaustion as well as muscle, nerve and joint disorders.
"The Resource Development Group, Inc. is
planning to build a training camp for soccer clubs and a hotel
complex on the property. The investment here totals EUR 25 million.
Tourism in the region received a big boost in 2010/2011 because of
large successful sporting events and an additional investment of US
$ 300 million."
ParaFin has recently negotiated an Agreement to acquire a fully
diluted 25% interest in Resource Development Group, Inc.
The website of Resource Development Group, Inc. is
www.resource-development-group.com
ParaFin Corporation
Disclaimer Certain statements in this news
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of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
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www.Pinksheets.com and other filings with the United States
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http://www.sec.gov/). The company undertakes no obligation to
publicly update or revise any statements in this release, whether
as a result of new information, future events or otherwise.
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ParaFin Corporation 5190 Neil Road, Suite 430 Reno, Nevada USA
89502 e-Mail: ceo@parafincorp.com Web: parafincorp.com (213)
985-3136
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