NEW YORK, NY--(Marketwire - April 20, 2012) - Beacon Redevelopment Industrial Corporation (
Mr. Castellano's first order of business will be to evaluate the company's current assets and disposition. Once the evaluation is completed, the company will then proceed via a fast track program to implement a plan of action.
"The company has been sitting dormant on some extremely valuable assets without producing any results, and it is my job to review and determine the proper course of action that will gain significant financial results," said Mr. Castellano, President and Chief Operating Officer.
About Beacon Redevelopment Industrial Corporation:
Beacon through its subsidiaries, controls projects in Pennsylvania and West Virginia that not only includes real estate but also recyclable material, natural gas rights, logging rights, shale mining rights, nearly 1,000 acres of coal rights, and redevelopment rights that include use of the property for a prospective resort and wilderness lodge. The company may consider cording off a section of their West Virginia property for a hunting lodge.
Beacon is a publicly traded company with a current share structure of an authorized share structure of 322,000,000 authorized shares broken down as follows: 5,000,000 preferred shares, 198,583,000 common shares consisting of 175,914,911 free trading shares and 22,668,089 restricted shares.
This press release does not constitute an offer of any securities for sale. This press release contains certain 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 forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.