Global Equity Corporation

June 07, 2007 14:58 ET

Global Equity Corporation: Purchase of Banff Rocky Mountain Units

TORONTO, ONTARIO--(Marketwire - June 7, 2007) - Global Equity Corporation announces that it has purchased 280 units (the "Units") representing 1.2% and now owns 1,280 Units representing 5.6% of the outstanding Units of Banff Rocky Mountain Resort Limited Partnership (the "Partnership"). Together with Units of the Partnership held by Phoenix Capital Inc., a party, which may be considered to be a joint actor, the parties hold 4,065 or 17.7% of the outstanding Units. The 280 units were acquired privately for cash for $225 per unit for a total consideration of $63,000. The units were acquired for investment purposes. Global Equity Corporation may increase its interest in the Partnership in the future. This news release is not an admission that Global Equity Corporation is a joint actor with Phoenix Capital Inc.

Global Equity Corporation is a wholly owned subsidiary of PICO Holdings Inc. of La Jolla, California.

Contact Information

  • Global Equity Corporation
    Jim Hamilton
    (416) 861-1940