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Beneficial Holdings, Inc. Enters Purchase Agreement for Oceanfront Land in El Transito, Nicaragua(January 11, 2012)
MANAGUA, NICARAGUA -- (Marketwire) -- 01/11/12 -- Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), which manages the sportsbook.cr and bet.cr by Beneficial live dealer casinos and sportsbooks, a hotel, and gaming parlors in Nicaragua, today announced that it entered into a purchase agreement to buy an oceanfront property in El Transito, Nicaragua.
The property will be developed as a boutique hotel with fourteen rooms including a separate onsite building as a slot parlor.
The purchase will be an all stock transaction with the seller receiving 400,000,000 restricted shares at closing and an additional 400,000,000 shares upon the start of construction. The closing is scheduled to occur in March of 2012 so the company may complete all due diligence and a title search of the property. The value of this transaction will be $640,000.00.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is an international hotel & casino holding company, specializing in acquiring undervalued gaming & resort assets. The Company owns a hotel in Managua, a bar and casino also in Managua, a slot parlor in Masaya, Nicaragua with other properties either under development or in various negotiation stages.
This release does not constitute an offer of securities for sale. It contains 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. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update statements to reflect future occurrences.
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