MIAMI, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Crosswind Renewable Energy Corp. dba Community Redevelopment (OTC Pink: CWNR) ("the Company"), a community oriented real estate redeveloper targeting economic growth and opportunity zones in secondary and tertiary markets announced today that it has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission to register its common stock under the Securities Exchange Act of 1934. The filing includes audited financial statements for the years ended December 31, 2018 and December 2019. The audit of the financial statements was completed by M.S. Madhava Rao, a PCAOB member firm.
The Company’s voluntary filing of the Form 10 will make it subject to the periodic reporting requirements of the Securities Exchange Act of 1934, which requires the filing of annual, quarterly and current report filings. Additionally, the filing will enable the Company’s management to move forward with its application to OTC Markets in order to uplist to the OTCQB market tier.
“By filing a Form 10 Registration Statement with the U.S. Securities and Exchange Commission, we are letting our shareholders know that we plan to focus on our efforts on becoming more transparent in our day-to-day operations and reporting,” said Charles Arnold, CEO of Crosswind Renewable Energy Corp. “We believe our company’s results will speak for themselves. By becoming an SEC reporting company, we not only demonstrate our continued commitment to transparency and communication, but provide a valuable means of insight for our shareholders.”
This announcement follows the Company’s update issued on November 18 and forms an integral part of its ongoing effort to establish next generation investor transparency and communication.
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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