Cardiff International, Inc. (OTCBB:CDIF) (OTC Pink: CDIF) (PINKSHEETS: CDIF) announced today, CDIF has entered into its third LOI (Letter of Intent) to acquire 30 acres of land in Salmon, Idaho, zoned both residential and commercial.
The property consist of 23.5 acres zoned MDR (Medium Density Residential) with 12 lots already platted and 48 lots zoned HDR (High Density Residential) with an additional 4 acres of dedicated river front property zoned for recreation on the Salmon River, Idaho's premier whitewater rafting river, and 2.5 acres zoned for commercial use. Current plans call for a Storage Facilities and RV park. All land has close proximity to Salmon, Idaho -- the city; and adjacent to the Frank Church Wilderness Park the largest wilderness park in the lower 48 states.
Cardiff's CEO Kathy Roberton announced, "I am thrilled we are in negotiations with two of the city's leading real estate developers to acquire this property. We believe this will be a viable and vibrant residential community in one of the hottest locations for year round living as well as families seeking a second home for vacation and recreation use."
Cardiff's (CDIF) Letter of Intent: "CDIF has a very comprehensive due diligence process and each Letter of Intent gives us the ability to evaluate from an internal perspective whether or not the proposed acquisition is a good investment for CDIF Shareholders."
CDIF is in the final stages of a required 2 year audit as a result of CDIF changing auditors. We anticipate filing the K's and Q's within the next two weeks.
About CDIF: CDIF is newly emerging as a holding company who adopted a new business model known as "Collaborative Commonwealth™" a new form of governance enabling businesses to take advantage of the power of a public Company. Targeting the acquisition of undervalued, niche companies with high growth potential, income-producing commercial real estate properties and high return investments, all designed to pay a dividend to our shareholders.
FORWARD LOOKING STATEMENT This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. These risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
Cardiff International, Inc.
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SOURCE: Cardiff International, Inc.