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Palomar Enterprises Sets Dividend Date and Details for The BlackHawk Fund
Palomar Enterprises, Inc / Dividend Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Palomar Enterprises Sets Dividend Date and Details for The BlackHawk Fund Thursday December 21, 2:04 pm ET Shareholders of Record Will Receive Shares of The BlackHawk Fund for Each Share of Palomar Held CARLSBAD, Calif., Dec. 21 -- Palomar Enterprises, Inc. (OTC Bulletin Board: PLMA - News), announced today, that the dividend date for shareholders of record will be January 31st, 2007. Under the terms of the dividend, each shareholder of PLMA will receive shares of The BlackHawk Fund (OTC Bulletin Board: BHWF - News). This is the first of several planned dividends that will be paid to shareholders in 2007. Aside from The BlackHawk Fund, our new Real Estate Fund will also be paid out as a dividend later in 2007. In addition to these dividends, we will spin out businesses from each fund which will also have their own dividends paid out to shareholders' stated Palomar Enterprises. 'Our plan is growth of shareholder and Company value through ownership of Palomar Enterprises. We will announce the details regarding our new Real Estate Fund early in January of 2007. We are very excited about the new direction of our business and expect a great deal of growth not only in revenues and profits, but also in acquisition of properties and the growth of our funds during 2007.' About Palomar Enterprises Palomar Enterprises is a Real Estate holding company that focuses on two primary business; real estate development and foreclosures as well as setting up Funds as holding companies for their businesses. Essentially Palomar is a layered company with companies within the Company. Palomar's primary objective is growth of all held companies and shareholder appreciation through ownership of Palomar's common stock which leads ultimately to ownership in all companies under their 'umbrella' through spin-offs. About The BlackHawk Fund The BlackHawk Fund (OTC Bulletin Board: BHWF - News) will be spun off into its own publicly-traded entity and a dividend paid to our shareholders of record. The BlackHawk Fund (http://www.blackhawkfund.com) operates as a Business Development Company, by incubating, developing, and acquiring Portfolio Companies that are synergistic with The Company's business model. The BlackHawk Fund takes a lead role in the financing, development, and management of these Portfolio Companies in return for a majority equity interest in each company. Once the Portfolio Company has succeeded in its business plan, The BlackHawk Fund will assist in the process of taking the Portfolio Company public. This will enable the portfolio company that is spun out to obtain a higher market valuation for the equity position held by The BlackHawk Fund. As mentioned in our November 28th, 2006 news release, a dividend in each one of the portfolio companies will be paid to shareholders. At this time, The BlackHawk Fund has signed a Business Development Agreement with Maximum Impact Television Group. The BlackHawk Fund will receive 100% of the revenue and share in the profits from all media properties produced with Maximum Impact, which had annual sales of $13 million last fiscal year. Maximum Impact Television Group has several media properties and cable television shows that will be acquired and spun off into their own publicly traded entities by The BlackHawk Fund. 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. Contact1@palomarenterprises.com 775-887-0670 www.palomarenterprises.com DGAP 11.01.2007 ----------------------------------------------------------------------
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