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MANAGUA, Nicaragua, April 2, 2013 (GLOBE NEWSWIRE) -- Accredited Business Consolidators Corp. (OTCQB:ACDU) announced today that it completed the purchase of 134 acres of land on the Bahia de Bluefields (Bay of Bluefields).
Accredited Business Consolidators paid $9,842 per acre, for a total purchase price of $1,325,000. The present owner financed the property pursuant to a ten year mortgage note at 6.75% interest per annum with no interest accruing until the third year. If the mortgage is refinanced or paid within two years, the interest will be waived. The purchase of the land closed on April 1, 2013.
The land is now owned directly by Accredited Business Consolidators Corp.
The land is located on the Bay of Bluefields. The Bay of Bluefields provides direct access to the El Bluff/Bluefields Port and the Caribbean Ocean. Many imports to Nicaragua arrive at El Bluff and are taken on smaller boats to the El Rama Port for transportation by ground vehicle to Managua. Many of these boats pass near the AccreditedBiz property as they travel to the Escondido River.
More information about the property can be learned from the following internet sites:
Nicaragua is a stable Republic in Central America. It has not experienced adverse business conditions under the current administration. On the contrary, its economy is expending with international investment. The Company expects its prospective plans for development of the land to comply with all regulations of the Nicaraguan government.
The Company will not issue any additional shares in connection with this transaction. The asset and mortgage debt will appear on Accredited Business Consolidators Corp.'s Second Quarter 2013 10-Q report with the Securities and Exchange Commission.
Accredited Business Consolidators Corp. is a diversified holding company focused on undervalued projects. The Company's authorized common shares are 450,000,000. 436,399,566 common shares are outstanding of which 70,546,600 are restricted. There are 500,000,000 preferred shares, all of which are restricted and owned by My Pleasure Ltd., of the United Kingdom.