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Friday, June 05, 2009 7:42:52 PM
PALM BEACH GARDENS, FL, Jun 02, 2009 (MARKETWIRE via COMTEX) -- Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline station/convenience store consolidator, is pleased to announce its intention to spinoff Pioneer Realty Group, Inc., its wholly owned subsidiary, to its shareholders of record on June 10, 2009. Shareholders of record on such date will receive a pro rata distribution of one share in Pioneer Realty Group, Inc. for every fourteen shares they own of PCAI as of June 10, 2009. Fractional shares will not be issued, as they will be rounded up to equal a whole share.
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