ASCK .0053 Going $16,000,000 CASH for $135,000,000 DEAL....Auscrete Corporation CEO, John Sprovieri held meetings with investors in Milan recently to finalize details of a $16 million funding package that will enable their 1,500 home residential construction development in Jamaica to proceed. Acquisition of the financing will be on a long term interest only basis with the principal repayable at the end of the term. Mr. Sprovieri said that the interest rate is very competitive in today’s market for international finance and there is no dilution of the company’s shares.
Mr. Sprovieri added “This financing will enable us to complete the acquisition of the land in Jamaica’s Northwest not far from Montego Bay. We will then set about final site planning and utilities figuration for the home sites in preparation for the systematic building of the homes”.
The company plans to construct a building materials manufacturing plant close by the residential housing estate where they will use their proprietary technology to construct 1,500 affordable homes, valued at approximately $135 million, over the next 5-6 years.
Everything I say is in my opinion, do your own DD and make your decision wisely! Don't spend more then you can afford to lose!
