Press Release
August 1, 2001
LAGUNA BEACH, CA -- Senior Care Industries Inc. (OTCBB:SENC) yesterday announced that The Bauer Partnership, an
investment-banking firm based in London, is assisting Senior Care with a private equity offering and anticipates
raising up to $10 million.
Funds raised will be used to acquire land for development, assist with the financing needed to complete development
of the Baja California properties that Senior Care purchased from Tri-National Development Corp. (OTCBB:TNAV) in
April of this year, as well as for general corporate purposes.
As part of the offering, company management has just completed a two-week trip with the Bauer organization to major
European financial centers, meeting with private banks, investment bankers and fund managers to introduce them
to Senior Care and its strategic plans for growth.
This funding, when combined with other financing that Senior Care has already identified, will allow the company
to complete construction of its Baja California properties, among others. The homes that Senior Care will build
in Baja will be restricted to seniors and will all be equipped with Senior Care's ``smart home'' technology for
direct alert in the event of a medical emergency.
Bob Coberly, a Senior Care vice president in charge of development, said, ``The Rosarito area project, south of
San Diego, is being built for seniors who want to have affordable housing in an area where the cost of living is
more in line with retirement income.''
The projects are within a one-hour drive of San Diego and provide an alternative attraction to Palm Springs, Phoenix
and Las Vegas. Where those desert communities are only viable six months of the year, due to extreme heat during
the summer months, Baja California offers a year-round climate that averages 75 degrees Fahrenheit.
Additionally, Baja California offers the amenities available from its oceanfront location including fishing, sailing,
swimming, surfing, other water sports, oceanfront golf and a competitive advantage other inland desert communities
cannot provide.
``The Baja projects are an integral part of Senior Care's plan to meet the demand for senior housing by building
5,000 homes, townhouses and condominiums,'' Coberly asserted.
Senior Care invests in, manages and develops senior housing with an emphasis on independent living. In the future,
Senior Care may acquire assisted living centers for seniors. Coberly also said that Senior Care is actively seeking
land for development or existing large apartment complexes that can be converted to senior housing.
For more information, readers may contact Tom Gavin at Investor Relations Network at 909/279-8884 or tom@irnonline.com.
This news release contains forward-looking statements, including statements containing the words ``believes,''
``intends'' and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance, actions or achievements of the company to be materially
different from any future results, performance, actions or achievements expressed or implied by such forward-looking
statements. Such factors may include the results of the company's continuing investigation of the matters described
in this news release, timing issues and actions by administrative and enforcement officials.
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Contact:
Investor Relations Network
Tom Gavin, 909/279-8884
tom@irnonline.com