BUCHAREST, Romania, July 16, 2015 /PRNewswire/ -- Artex Corp. (OTCQB: ARXQ) today announced that it has acquired an agricultural project in Romania (a country member of the European Union and the North Atlantic Treaty Organization).
The property consists of 4,223 acres on the meeting point of the Danube Delta and the Black Sea, an area that is highly fertile and that will host a wide array of developments in the near future.
As part of the project the company owns a 25 km (15 miles) long dam. The dam was built around two decades ago at a construction cost that would today likely reach 20,000,000 euros for something of this magnitude.
Other important assets that are part of the acquisition, apart from the land itself, are water reed plants and several large buildings.
The company will update investors shortly about the specifics of the assets as well as well as its plans for them.
"We are pleased with the acquisition of this flagship project in one of the most exciting regions of Europe and look forward to developing it into a profitable, green project that will create ripples across the shores of the Black Sea," stated Radu Cosmin Monda, CEO of Artex Corp.
About Artex Corp
Artex Corp. operates in the agricultural, aquaculture and tourism industries in Europe. The company's flagship property is located at the junction of the Danube Delta and the Black Sea and encompasses a wide variety of currently revenue-producing and future revenue-producing businesses.
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by Artex Corp may not proceed as contemplated, and by all other matters and assumptions specified in Artex's filings with the Securities and Exchange Commission, especially those risks and other matters described under "Risk Factors" within Artex's Form 10-Q filed with the Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. Artex does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.
SOURCE Artex Corp.