VANCOUVER, British Columbia, July 9 /PRNewswire-FirstCall/ -- Rancho Santa
Monica Developments Inc. (OTC Bulletin Board: RSDV.OB) "the Company or RSDV"
is pleased to report that it has completed its first tranche of financing.
The Company raised proceeds of $130,000 in its Convertible Debenture [CD
offering]. A further $6,000,000 direction to fund, has now been accepted by
the Company from De Cotiis Group Windsor Holdings Ltd. Nick De Cotiis
President, CEO and a prominent member of the De Cotiis Family, to place funds
in escrow upon completion of this CD offering. The final terms of this
funding are to be negotiated upon completion of the CD offering.
"This should give our shareholders and potential investors valid and
current information to demonstrate that we are headed in the right direction,"
quoted President Graham Alexander.
"The Vancouver, Canada hotel market is poised to tighten and further
strengthen with the new convention center and 2010 Olympics," quoted Nick De
Cotiis, President of De Cotiis Group Windsor Holdings Ltd.
The Company continues with its second financing tranche, which is expected
to close in August 2008 or year end.
Privately owned, De Cotiis Group/Companies and Family have a portfolio of
projects developed and/or underway cumulatively valued in excess of 10 billion
dollars. Mr. Nick De Cotiis has served as a director and officer of numerous
private and public companies and is one of the more significant business
professionals in Vancouver, Canada. De Cotiis Family projects include
Condominium Hi-rise Towers, Hotels, Business Parks, Office and Shopping
Centres.
Graham Alexander has developed the ocean front resort ParaYso Hotel Tulum,
Mexico in 2007 and Elk Mountain Estates, Chilliwack BC, a 32 lot subdivision
on the eastern hillside in 2006. Information can be viewed at its website
www.rsdv.net
Legal Notice Regarding Forward-Looking Statements: The statements in the
press release that relate to the Company's expectations with regard to the
future impact on the Company's results from acquisitions or actions in
development are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements in this document may
also 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. Since this information may contain statements that involve risk and
uncertainties and are subject to change at any time, the company's actual
results may differ materially from expected results.
SOURCE Rancho Santa Monica Developments Inc.