Agreement to Dispose of Investment in Dallas Wheel

RNS Number : 2518N

Challenger Acquisitions Limited

16 January 2019

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

For Immediate Release

                                                                                                                                    16 January 2019

Challenger Acquisitions Limited

("Challenger" or the "Company")

Agreement to Dispose of Investment in Dallas Wheel Project

Challenger Acquisitions Limited (LSE: CHAL) announces that it has it has signed an agreement with the developers of the wheel project in Dallas, Texas ("the Developers") to sell its US$300,000 investment in this project back to the Developers.  This is in line with the Company's strategy to seek out a project that can utilise the public company platform.

Highlights

·     Challenger has received US$27,000 in interest (one year of interest at 9%)

·     Challenger will receive US$50,000 per month commencing 31 January 2019 for six months

·     Challenger will receive interest with each monthly payment (9% on balance)

·     Until the full US$300,000 has been received, Challenger retains all legal rights from the original promissory note

Mark Gustafson, Challenger's Chief Executive Officer, stated, "This transaction helps maintain the ongoing viability of our Company as we continue the search for a suitable project with a view to garnering near-term shareholder value."

This announcement contains inside information.

**ENDS**

For more information visit www.challengeracquisitions.com or enquire to:

Challenger Acquisitions Limited
Mark Gustafson	[phone]
St Brides Partners Ltd (PR)
Lottie Wadham/Cosima Akerman	[phone]

 

END

 

 

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