BLUEFIELDS, Nicaragua, Oct. 22, 2012 (GLOBE NEWSWIRE) -- Accredited Business Consolidators Corp. (OTCQB:ACDU) tentatively agreed to purchase land on the Bay of Bluefields, Nicaragua. The land can be viewed at ACDU's Bluefields Project website http://www.bluefields.accreditedbiz.com . The Bay of Bluefields provides direct access to the El Bluff/Bluefields Port and the Caribbean Ocean.
Many imports to Nicaragua arrive at El Bluff and are taken on smaller boats to the El Rama Port for transportation by ground vehicle to Managua. Many of these boats pass near the Accredited property as they travel to the Escondido River.
Over the next two months, the Company will finalize its financing and the formation of a Nicaraguan corporation to hold the property and further develop its plans. The Company will not issue any additional shares in connection with this transaction. Rather, the property acquisition will be financed through a banking lender, by the seller, or through a warehouse line of credit from My Pleasure Ltd., United Kingdom, the majority owner of AccreditedBiz. Any debt incurred as a result of the transaction will be long term in nature and at standard commercial interest rates.
The Company has not announced the financial terms of this acquisition until non-compete clauses are entered into by certain affiliates. At that time, the Company will make additional disclosures.
The Company believes that Nicaragua presents a politically stable environment for business that is achieving growth in its development sector. The present administration has not engaged in practices that harm business or investment and has treated foreign capital on fair terms. The government in Nicaragua reduced corruption and helped enabled an environment that we believe will continue to achieve growth of both imports and exports for the country and the El Bluff/Bluefields Region. For the long term, we believe that the value of our land development in the Bay of Bluefields will be assisted as the Nicaragua improves ground transportation to Bluefields and near the land. As relations between Nicaragua and the investment community improve as a result of the continued stable and pro-business environment in the country, additional opportunities will present themselves. AccreditedBiz hopes to be on the ground floor of these developments.
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.
Accredited Business Consolidators Corp. is a diversified holding company focused on undervalued projects. The Company's authorized common shares are 450,000,000. 436,399,566 shares are outstanding of which 70,546,600 are restricted.
This is not an offer to sell securities. Statements made are forward-looking subject to risks and uncertainties. Statements included are made as of the date hereof, and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.