Press Release: Senior Care Industries Inc.
April 9, 2002
LAGUNA BEACH, CA -- Senior Care Industries Inc. (OTC BB: SENC) Monday announced through its Chief Executive Officer
Mervyn A. Phelan Sr., that it had succeeded in subscribing $2.5 million to its newly formed limited partnership,
Gold Coast Partners, I, L.P. to complete construction of the Plaza Rosarito Shopping Center in Rosarito Beach,
Baja California.
``This is just the beginning,'' Phelan explained, noting that Senior Care has a number of partnership investment
opportunities that are presently being subscribed for property in California, Nevada and Baja California.
``Most of these partnerships are developing housing for our senior citizens. We expect to raise over $40 million
during the next year through these unique investment opportunities that are described on our Web site and in the
video that can be accessed from our Web site, http://www.seniorcareind.com.''
``In the video, I tell investors how our partnership investments include a special liquidity factor not available
in standard limited partnership real estate investments,'' Phelan went on to say.
``What we have is a state-of-the-art investment vehicle for qualified investors. We believe that we are particularly
well placed in a market that grows every day. The need for housing for seniors is growing faster than any other
housing segment.''
About Senior Care Industries
Senior Care Industries is a specialty real estate development firm constructing a focused portfolio of real estate
uniquely designed and located to meet the needs of a growing senior citizen population. The company entitles land
it acquires in order to develop and construct age-restricted residential projects that are on the cutting edge
of design and efficiency.
Senior Care has residential projects for seniors in various stages of development in the fastest growing senior
population centers in southern California, Nevada, New Mexico and Baja California. In addition, Senior Care develops
commercial properties that are ancillary to its senior projects.
Senior Care continues to actively seek land for development or existing large apartment complexes that can be converted
to senior housing.
Forward-Looking Statements: This news release contains certain ``forward-looking'' statements within the meaning
of the Private Securities Litigation Reform Act of 1995, which provides a new ``safe harbor'' for these types of
statements.
To the extent statements in this news release involve, without limitation, product development and introduction
plans, the company's expectations for growth, estimates of future revenues, expenses, profits, cash flow, balance
sheet items, sell-through or backlog, forecasts of demand or market trends for the company's product categories
and for the industries in which the company operates, or any other guidance on future periods, these statements
are forward-looking statements.
Senior Care does not assume any obligation to update forward-looking statements.
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Contact:
Senior Care Industries Inc.
Robert Coberly, 949/376-3125
Investor Relations
Sean Anderson or Karin Case, 813/264-8830