Black Castle Developments CEO Issues Corporate Update

FRESNO, Calif., June 14, 2011 /PRNewswire/ -- Black Castle Developments, Inc. (PinkSheets: BDVI) ("BCD"), a company involved in the purchase of non-performing notes and bank-owned, income-producing commercial real estate, issued today a letter to shareholders and interested investors from CEO and Founder Jeff Holroyd.

As CEO of BCD, I am pleased to provide you with a progress report on the Company. First, let me say thank you for your continued support of Black Castle Developments. As an investor in BCD, I hope you share in my excitement and commitment to acquire real estate that is extremely discounted and yields substantial income. The U.S. real estate market remains extremely attractive. BCD's expertise in managing income-producing properties, identifying undervalued properties ripe for acquisition and turning bank-owned assets into new revenue streams is the foundation of BCD's business model and future success.  

Since becoming a publicly traded company, our team has worked diligently to move the Company to Current Information.  The company believes it has met all Pink Sheet's legal and accounting requirements necessary to move up from Limited Information to Current Information status and anticipates the updated status to occur on the OTC Markets website shortly. The Current Information category is based on meeting more stringent levels of disclosure and transparency required by Pink Sheets. With the added visibility and liquidity that the Current Information tier brings, our company expects to gain greater transparency, including audited financial statements, for the benefit of our shareholders, and enhance our ability to secure capital to fund future acquisitions. We are closing in on the process, and will update shareholders accordingly.

About Black Castle Developments, Inc.

Black Castle Developments, Inc. is focused on the direct acquisition of non-performing notes (NPNs) and the development, operation and management of income-producing commercial and residential distressed properties. The Company was founded by executives with over 20 years of experience in commercial real estate finance, origination, negotiation, and transaction execution. Profiling hundreds of NPNs daily in the $1 trillion U.S. loan marketplace, Black Castle Development's financial deal makers are capitalizing on the unprecedented and opportunistic U.S. real estate market. For more information, visit www.blackcastledevelopments.com.

Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact:
Jeff Holroyd, CEO
Black Castle Developments
559-435-2300
[email protected]
www.BlackCastleDevelopments.com
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SOURCE Black Castle Developments, Inc.