GFD Executes Letter of Intent for Minneapolis Based Creative Business Center
20 August 2013 - 12:11AM
OTC Markets
General
Finance and Development, Inc. (OTC Markets: GFDV) announced today
it has
executed a Letter of Intent to co-own and be a major tenant in a
creative
business center in Minneapolis, Minnesota.
The
agreement dated August 16, 2013 is between 861 Hennepin, LLC, The
Ackerberg
Group and General Finance and Development, Inc.
The
three main components of the agreement include:
- GFD subsidiary Corporate Art
Force, LLC locating its
operations in the building
- GFD investing in the building
and holding an equity
position
- GFD investing in other
business ventures that will occupy
space in the building
The building will be redeveloped to provide
approximately
40,000 square feet of usable space.
The final agreement between the parties is to
be completed
within 90 days of the Letter of Intent.
More information regarding the creative
business center will
be forthcoming over the next several weeks.
About General
Finance and
Development:
General Finance and
Development,
Inc. provides capital and business development services to small
and medium
size companies. Capital is provided to qualified companies by
equity and/or
strategic loan agreements. Business development services include
business
planning, organization and management development. GFD also
pursues
merger/acquisitions and joint venture projects.
The foregoing
material may contain forward-looking statements. We caution that
such
statements may be subject to uncertainties and that actual results
could differ
materially from the fore-going statements. Readers accordingly
should not place
undue reliance on these forward-looking statements which do not
reflect
anticipated or unanticipated events or circumstances occurring
after the date
of these forward-looking statements. More information regarding
General Finance
and Development including financial statements and reports is
available at the
company?s website www.genfd.com and www.otcmarkets.com.
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