Mississauga, Ontario – July 15, 2013 – Crown Alliance Capital Limited (OTCBB: CACL) a senior life insurance settlements company is pleased to announce the signing of an Letter of Intent with a investment group for the purchase of up to $5 million US of 10% Secured Convertible Debentures to be used for the purchase of life settlement policies. The initial commitment of the Purchaser is a minimum of $150,000 to be paid into the company on or before August 1, 2013 (upon approval of the Debenture Form). This investment in our Secured Convertible Debenture will allow Crown to purchase the senior life insurance policies that are currently under review.
According to President and CEO Lorraine Fusco, “Crown Alliance strives for excellence in combining a thorough due diligence process with a strong belief in transparency, providing a solid framework for profitable and stable returns. We believe that with this injection of capital we are well on our way to having a balanced, profitable portfolio under management. “
Crown Alliance has already acquired multiple life settlement policies and is completing the due diligence on a larger portfolio. The expertise found within their management team provides for a solid and stable return on each acquired policy because of the Company’s rigid guidelines for choosing life settlement policies.
The Company continues to review life settlement policies through a variety of brokers based in the United States. The objective is to acquire as large a pool as possible so from an actuarial standpoint the probability of more consistent maturities increases. Upon acquisition, the Company holds the policies until maturity.
Safe Harbor Statement: Certain statements and information included in this release constitute “forward-looking statements” as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, estimates and expectations is contained in the Company’s SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
Crown Alliance Capital Announces Signing of Letter