NEW YORK, April 24, 2012 /PRNewswire/ -- Distressed Asset Acquisition Group (daaginc.com) today announced that it has entered into negotiations to acquire a large demolition/salvage and redevelopment project with an overall budget and completed project value of $16,000,000.

The project will consist of demolishing, salvaging materials and the construction of either a light industrial office warehouse facility or storage units.

About Distressed Asset Acquisition Group, Inc.

We are a buyer of distressed assets primarily real estate however the company will consider other sectors. The Company is also a hard money lender for commercial and residential real estate. The Company also will consider lending to small businesses. The company believes that their strategy of hard money lending works well in conjunction with acquiring distressed assets, you can visit the company's website at www.daaginc.com or follow us on Facebook. Distressed Asset Acquisition Group is a majority owned private entity with a publicly traded company, A Clean Slate, Inc. (DRWN.PK), as a minority shareholder. 

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

www.daaginc.com

SOURCE Distressed Asset Acquisition Group, Inc.