Angel Acquisition Corp.
Palomar Enterprises, Inc: Palomar Enterprises Receives $1,350,000 Financing
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Palomar Enterprises Receives $1,350,000 Financing
CARLSBAD, Calif., May 15 /PRNewswire-FirstCall/ — Palomar Enterprises,
Inc. ( OTC Bulletin Board: PLMA) announces the funding of $1,350,000
pursuant to 6% Secured, Convertible Notes and Stock Purchase Warrants. In
connection with this Stock Purchase Agreement, The Company and the
Investors entered into an Intellectual Rights Agreement, an Intellectual
Property Security Agreement and a Security Agreement.
To date, The Company has received $900,000 and will receive an additional $
450,000 upon the effectiveness of their SB-2 Registration. This financing
will allow The Company to expand and grow at a much faster rate than
previous quarters. The Company plans to invest the majority of proceeds in
real estate assets that will enhance the valuation of The Company. The real
estate assets purchased will be improved and re-sold at higher prices or
held for income and appreciation, depending on the market conditions.
Palomar Enterprises is a licensed Real Estate Brokerage Firm, specializing
in Southern California coastal properties. The Company’s agents generate
commission revenue from the purchase and sale of listed properties. The
Company plans to increase its marketing efforts with the proceeds from
financing, to capture more market share and increase revenues in this
division.
From time to time, the Company may issue news releases that contain
‘forward- looking statements’ within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, and is subject to the safe harbor created by those sections. This
material may contain statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks
and uncertainties. For those statements, the Company claims the protection
of the safe harbor for forward-looking statement provisions contained in
the Private Securities Litigation Reform Act of 1995 and any amendments
thereto. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, goals,
assumptions, or future events or performance are not statements of
historical fact and may be ‘forward-looking statements.’ ‘Forward-looking
statements’ are based upon expectations, estimates and projections at the
time the statements are made that involve a number of risks and
uncertainties that could cause actual results or events to differ
materially from those anticipated.
(775) 887-0670
contact1@palomarenterprises.com
www.palomarenterprises.com
Subject Codes: I/MFN, N/DJIN, N/DJN, N/DJWB, N/CAC, N/CNW, N/DJPN, N/DJWI,
N/FNC, N/PRL, N/TPCT, M/FCL, M/NND, M/TPX, P/TAP, R/NME, R/NV, R/US, R/USW
Company Codes: PLMA
Contact:
Email: palomargroup@web.de
(c)DGAP 17.05.2006
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Language: English
Issuer: Palomar Enterprises, Inc
1802 North Carson Street Suite #212-7105
NV 89701 Carson City Vereinigte Staaten von Amerika
Phone: 001(775) 887-0670
Fax: 001(775) 887-0738
email: palomargroup@web.de
WWW: www.palomarenterprises.com
ISIN: US6975224071
WKN: A0ER1J
indices:
Listed: Freiverkehr in Berlin-Bremen
End of News DGAP News-Service
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