AVENTURA, Fla., Nov. 18, 2020 (GLOBE NEWSWIRE) — Crosswind Renewable Energy Corp. dba Community Redevelopment (OTC Pink: CWNR) (“Community Redevelopment” or “the Company”), a community oriented real estate redeveloper targeting economic growth and opportunity zones in secondary and tertiary markets, today announced that on November 16, 2020 it filed its quarterly report for the quarter ended September 30, 2020 on OTCMarkets.com. The quarterly report is available in the “Disclosure” section of Community Redevelopment’s OTC Markets webpage at https://www.otcmarkets.com/stock/CWNR/disclosure.
On July 6, 2020, the Company acquired the assets and liabilities of RCK Development LLC in a merger agreement. The Company intends to a Form 10 with the SEC in order to become a full reporting company and to file a request with FINRA to change the name of the company to Community Redevelopment, Inc. As part of this effort the Company has engaged an independent auditor and PCOAB registered accounting firm, M. S. Madhava Rao, to conduct an audit of its Consolidated Financial Statements for the fiscal years ending December 31, 2018 and 2019.
About Community Redevelopment
Community Redevelopment, Inc. operates as a community oriented real estate redeveloper targeting economic growth and opportunity zones in secondary and tertiary value added markets. The Company is primarily focused on opportunity zones in an effort to bring commerce and affordable housing to underserved areas. Community Redevelopment plans to provide numerous opportunities to improve low income neighborhoods for residential, commercial, and industrial opportunities through government incentives, long term partnerships and agreements. Our mission is to rebuild depressed communities, change the direction of youth and improve the quality of life in those communities, and provide our investors with an opportunity to profit. We intend to accomplish this by focusing on partnerships between the public and private sector to generate both business interest and business activity in low income neighborhoods that have gone unnoticed by the development community at large, while repairing and amending relationships in these underserved communities.
Community Redevelopment, Inc. is not an opportunity zone fund, or a real estate investment trust. Community Redevelopment, Inc. is a real estate developer offering potential investors an opportunity to participate in the process of investing in real estate projects that could improve the quality of life for residents of low income neighborhoods, via a publicly traded company. The Company intends to work with other real estate developers, as well as local and state government agencies to complete its projects in these communities.
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current expectations regarding future events, including its ability to raise sufficient capital, as well as the Company’s plans for real estate development, the Company’s regulatory environment, and the Company’s overall business strategy. Forward-looking statements involve risks and uncertainties. Such risks and uncertainties include, among other things, assumptions regarding the funding necessary for the Company’s future development plans, local zoning laws, access to capital, changes to government regulation, unexpected adverse events or safety issues, the timing and ability of the Company to raise additional funding as needed for continued operations, and the impact of the COVID-19 pandemic on general economic, regulatory and political conditions. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. For further discussion of these and other risks, see the Company’s filings with OTC Markets on OTCMarkets.com. The Company undertakes no obligation to update or revise the information contained in this announcement, whether as a result of new information, future events or circumstances or otherwise.
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