MIAMI, April 2, 2009 (GLOBE NEWSWIRE) -- Omega Commercial Finance Corporation (OTCBB:OCFN) is pleased to announce that their new media presentation for The Los Corales Resort, a 298 unit high-rise hotel/condominium beachfront resort is now available.
As previously announced, Omega has signed a Definitive Agreement to acquire 100% ownership of 3.9 acres of beachfront property including the development of the project located in Puerto Penasco, Mexico.
Puerto Penasco is a majestic beach resort community located at the base of the Sea of Cortez in Mexico (Gulf of California), and can be found in the same geographical region as Cabo San Lucas. The Mexican city is a short 3 hr. drive from the Phoenix/Tucson, AZ area and is ideal for people living in southwest areas of the U.S. who are looking for a quick vacation destination without the hassles of flights and long travel itineraries.
To view the media presentation, please visit:
http://www.smallcapvoice.com/ocfn/los-corales/.
Chris Crane of BBB Developments Mexico S de RL de CV, stated, "We are very excited to be partnered with Omega in getting this project underway. With over 2 years of hard work, it is nice to finally see the implementation of the project turn towards the start of development. All pre-construction and environmental resolutions have been completed and passed by Mexican government officials. With the new additions of our Condo/Hotel package, as well as, our recently added concessions, we foresee a project that can dominate our competition in its geographical location. Los Corales has truly turned into an "affordable paradise."
Jon S. Cummings IV, CEO, stated, "We are extremely excited about the opportunities that this latest acquisition offers our core business operations. I am glad that our shareholders and investors can now see and visualize this project first hand via this media presentation. We also look forward to continuing our focus of accumulating assets to our real estate portfolio."
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Omega Commercial Finance Corp.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Omega Commercial Finance Corp. filings with the Securities and Exchange Commission.