DND Technologies has served notice that it intends to exercise its option to acquire an interest in Corrib Poprad, the first phase of a three phase condominium development project in Poprad, Slovakia
NEW YORK, Oct. 23, 2012 /PRNewswire-iReach/ -- DND Technologies, a diversified holding company that acquires, invests in, and partners with next generation start-ups and established businesses to bring new or improved products to market today announced that it has served notice that it intends to exercise its option to acquire an interest in Corrib Poprad, a three phase condominium development project in Poprad, Slovakia.
Before construction began, DND Technologies ("DNDT") reached an agreement with the owner of Corrib Tower, (http://corrib.sk/eng/index.php), that gave DNDT the option to acquire an interest in the project anytime before the before the first phase of the project reached 50% sales. Sales are currently approaching 40% as the first phase is nearing completion. The project is being financed by VUB Bank, a.s., which has also created a facility for financing apartment purchasers with up to 95% of the apartment value.
Poprad, the most populous city of "Spiš" region, the third largest town in eastern Slovakia, has been rated by Aa1.sk of Moody's as the most promising city in Slovakia. Poprad is Located at the foot of the High Tatras Mountains, the Alpine mountain range straddling Slovakia and Poland, and offers a wide range of year-round recreation activities, including ski resorts, the Aquacity waterpark, an ice stadium among other amenities. The Tatra National Park gets more than 4 million visitors a year from Slovakia, the Czech Republic, Poland and Germany, and is very popular with Russians.
DNDT's notice to exercise the option has been acknowledged and accepted by Corrib Poprad. Details of the final agreement are being worked out and will be announced shortly. Further information about DNDT's updated operational structure, investment strategy, and a brief mention of some of its planned investments may be found in the "About Us" section of DNDT's website at www.dndtechnologies.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.
Media Contact: Jonathan Peters DND Technologies, 800-341-8940, firstname.lastname@example.org
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