SOURCE: Parafin Corporation
LOS ANGELES, CA--(Marketwire - Sep 26, 2012) - ParaFin Corporation (PINKSHEETS: PFNO) (ISIN: US69912M4006) -- The Resource Development Group, Inc. has confirmed to ParaFin "That the investment for the first phase of the project totals EUR 25 million with a portion of this amount being covered by subsidies from the European Union and local governments.
"A heated spring with medicinal waters is on the property which has existed for over 800 years and is known throughout Turkey for its therapeutic properties. The mineral water, that is very rich in bicarbonate, chlorine, sodium and carbon dioxide, flows out the ground at temperatures between 39 and 45 degrees Celsius direct into the spa town. The water is used for medicinal drinking and baths and helps in the rehabilitation of rheumatism, and psychic exhaustion as well as muscle, nerve and joint disorders.
"The Resource Development Group, Inc. is planning to build a training camp for soccer clubs and a hotel complex on the property. The investment here totals EUR 25 million. Tourism in the region received a big boost in 2010/2011 because of large successful sporting events and an additional investment of US $ 300 million."
ParaFin has recently negotiated an Agreement to acquire a fully diluted 25% interest in Resource Development Group, Inc.
The website of Resource Development Group, Inc. is www.resource-development-group.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the Company's Form 10-KSB and Annual and Quarterly filings with www.Pinksheets.com and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
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