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(BSNS WIRE) James Monroe Capital Doubles Resort Developments James Monroe Capital Doubles Resort Developments
Business Editors
CHICAGO--(BUSINESS WIRE)--June 9, 2006-- James Monroe Capital Corporation (Pink Sheets:JMCP), recently reported that it now has two resort development projects in Costa Rica. Rainforest Beach(TM) Resort and Casino on the East coast, and a timeshare resort on the West. The company is pleased to announce that its letter of intent to develop a beachfront property in Guanacoste was accepted in writing by the owner of the project, to partner with James Monroe Capital by providing the land, while the company provides planning and timeshare marketing, which should net the company $5,000,000. The deal is subject to inspection, which is to be done around June 21. There are still negotiations taking place regarding details of the final contract. James Monroe Capital will use someone else's land, 98% financing, and low-cost local labor to highly leverage its assets with very little capital. This second resort will feature timeshare, which allows the developers to sell the same condo 50 times, one week at a time, for substantially higher profits. The company has experienced timeshare management and real estate developers to supervise the project, which was spearheaded by Dr. Vinton J. Lewis. Lewis is also known for inventing the kiosk for the city of Minneapolis, originally selling McGruff the Crime Dog to the Lions Club, and popularizing the idea of a financial advisor while VP of IDS (now American Express Financial Advisors). James Monroe Capital CEO Chris McGovern commented, "The two resorts will be different from each other, but the timeshare resort will be a quicker profit center. We can also use the two of them to help add stability to the company. We also hope, in the future, to have the resorts profit from each other, sharing ideas for long-term success and earnings."
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Equitable Mining Corp. Finalizing Joint Venture Financing Friday June 9, 7:00 am ET
TORONTO, June 9 /PRNewswire-FirstCall/ - Equitable Mining Corp. (Trading as symbol EQBM.PK & E5W.F Frankfurt) intends to finalize its joint venture financing in Switzerland next week. "Our CEO will be travelling to Zurich, Switzerland for a series of presentations to Swiss banks and brokers," said Jim Adams, company Director. In Switzerland, most major Swiss banks act as prime brokers on the Frankfurt Exchange.
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In additional news, Equitable Mining Corp. has been told by Chinese government officials that its precious metals mining project in Dalian meets its environmental standards as it is non-intrusive and will not contribute any pollutants. The mining project extracts precious metals from existing mining tailings.
At this point in time, the company reports that all of its projects in China, Ontario and South America are on track and it is waiting for final due diligence documents.
About Equitable Mining Corporation
(Pink Sheets: EQBM and Frankfurt Exchange: E5W)
Equitable Mining Corporation is a rapidly expanding company focused on acquiring, exploring, developing and extracting mineral rights worldwide. Projects include the Bonanza Property in Canada's high-yield Red Lake Gold Camp, an acquisition in progress in Colombia, a memorandum of understanding for a precious metals mine in China, and ongoing acquisition programs in mineral-rich areas of North America, South America and Australasia. The company is leveraging its deep industry expertise and extensive contacts to recruit mining industry veterans and expand its search for quality gold and other precious metals-bearing properties in the Americas and Australasia. For more information visit www.equitablelifeinvestments.com.
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