ParaFin Negotiating to Monetize US$1.6 Billion ING Bank N.V. Bearer Bonds
LOS ANGELES, April 27, 2012 (GLOBE NEWSWIRE) -- ParaFin Corporation (Pink Sheets:PFNO): ParaFin Corporation owns 800 Series FF ING Bank N.V. 5.5% June 16, 2010 €1,000,000 Bearer Bonds issued June 16, 2000.
To finance acquisitions and hydrocarbon exploration in the U.S.A., representatives of ParaFin Corporation, have been actively negotiating with financial institutions to monetize the 800 Series FF ING BANK N.V. 5.5% June 16, 2010 €1,000,000 Bearer Bonds. The value of the 800 Series FF ING Bank N.V. Bearer Bonds owned by ParaFin is in excess of US$1.6 Billion. The first admission by ING Bank N.V. that ING Bank N.V. issued Series FF June 16, 2010 Bearer Bonds in June, 2000 was received in a letter from the attorneys for ING Bank N.V. to Attorneys for ParaFin.
About ParaFin Corporation
ParaFin Corporation, a Development Stage company, has engaged in the acquisition and exploration of Oil and Gas properties since it was founded in Colorado in 1978. It is now a Nevada Corporation and has made quarterly or 10-QSB and annual or 10-KSB filings every year since 1979.
Outstanding Float: 4,680,280,671
Disclaimer
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
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