City Ventures Announces Confidential Submission of Draft Registration Statement for Initial Public Offering
City Ventures, Inc., a California homebuilder and developer, announced today that it has confidentially submitted a draft registration statement to the Securities and Exchange Commission for a possible initial public offering of its common stock. The proposed offering is expected to commence after the Securities and Exchange Commission completes its review process, subject to market conditions and other conditions.
City Ventures, Inc. intends to use the net proceeds from the proposed offering to acquire land and for land development, home construction and other related purposes.
This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in City Ventures, Inc.’s filings with the Securities and Exchange Commission. City Ventures, Inc. undertakes no duty to update any forward-looking statements made herein.
City Ventures, Inc.
Chief Financial Officer