Press Release
Date of Release:
March 7, 2006
World Associates,
Inc. Puts Another Property In New Mexico Under Contract
Los Angeles, California (PR
Newswire) March 8, 2006: World Associates, Inc. (“World”,
PINK SHEETS: WAIV) announced that its offer to purchase 9,550 acres of land in Tierra
Amarilla, New Mexico was accepted. The transaction is structured as an option and
it gives World the right to purchase the property at any time during 2006. In January
2006 World put a 4,743-acre parcel of land under contract that is adjacent to the
new property. That transaction is currently set to close at the end of March.
The
two properties will contain 14,293 acres, or more than 22 square miles of rolling
hills covered in juniper, pinion pine and pasture. The land is home to a varied wildlife
population that includes elk, mountain lions, mule deer, bears, bald eagles, badgers,
wild turkeys and more. The Chama River, designated as a Wild and Scenic River, flows
inside El Vado State Park directly across the street from the combined property.
The area is known for world-class fly fishing, white water rafting and other year
round activities.
World’s preliminary plan for the property envisions a large common
open space and wildlife preserve that will provide an amenity for homeowners scattered
throughout the common land on ranch properties of various sizes. The project is expected
to preserve the area’s rural character. The design for the ranch’s infrastructure
and homes will be based on sustainable design principles. Those principles provide
benefits that include resource and energy efficiency, healthier living environments,
and ecologically and socially sensitive land use. This approach over time will foster
independence making the community a haven as well as a home.
World created a New
Mexico limited liability company named Yellow Hills LLC to contain both properties
in the event the purchases are finalized. Further news on the project can be expected
shortly.
Investors should note this
press release contains "forward-looking statements" within
the meaning of the Securities Act of 1933, as amended. Although World believes that
the expectations reflected in such statements are reasonable, no assurances can be
given that they will prove correct or without a material difference from what was
indicated. The company remains exposed to risk factors that include: economic conditions;
the availability of financing for development; the necessity to meet critical deadlines;
title or mineral rights issues; and, the inability to obtain entitlements or approvals
for the project and other factors.
For more information:
http://www.worldassoc.com/
info@worldassoc.com
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