Press Release
Date of Release:
January 15, 2004
World Associates,
Inc. Acquires Line of Credit for Infill Housing Program
Los Angeles, CA: (PR Newswire)
January 15, 2004: World Associates, Inc. (OTC Bulletin Board WAIV), has agreed
to terms for a $250,000 line of credit with a group of four individual investors.
The line of credit will be used to provide part of the funding for Superior Real
Estate, Inc.’s Infill Housing Program. Superior Real Estate is a wholly
owned subsidiary of World Associates, Inc.
Under the terms
of the agreement the Investors will receive 500,000 shares, 10% interest on the
money outstanding, and warrants for purchasing five million shares of stock. The
same Investors are already funding, and are committed to fund, other aspects of
the Infill Housing Program. Superior expects to purchase more land during the
first half of the year that will be prepared for building factory-built homes.
Complete details on Superior’s Infill Housing Program can be found in World’s
public filings and on the Company website (http://www.worldassoc.com).
The first of several homes are listed for sale in the $250,000 to $330,000 range.
World Associates, Inc.,
through its wholly owned subsidiary Superior Real Estate, Inc., is focused on
two primary real estate market segments in California. The first is factory-built
single-family homes that are affordable, but designed to compete with the curb
appeal and quality of site-built homes.
Superior is also engaged
in the land development business, which involves investing in raw land and adding
to its value by having it approved for development by municipalities or counties.
For Further Information
Contact:
Safe
Harbor Notice:
This release contains
"forward-looking statements" as provided in the Securities Act of 1933
and the Securities Exchange Act of 1934. The Company believes that the expectations
reflected in such statements are reasonable, but no assurances can be given that
they will prove correct. The Company remains exposed to risk factors that include:
economic conditions; the availability of sufficient financing when required; the
availability of qualified personnel; regulatory requirements; competition; time
critical deadlines; title issues; liability claims; the inability to get entitlements;
poor conditions for selling the Company’s stock, and others. Statements
made herein are not a guarantee of future corporate or stock performance.
