December 10, 2010 at 10:31 AM EST
Arrow Planning Debt Retirement
Arrow Resources Development, Inc. (OTCBB: ARWD) stated today that they are currently in negotiation with new funding sources to retire its current debt and fund its future plans for expansion during the first quarter of 2011. Arrow’s CEO Peter Frugone said “After working our way through very difficult financial times, the Company is prepared to execute on its plan in full.”
About Arrow Resources Development, Inc.
Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market. Its initial relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation and farming operations in Indonesia. Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH's joint venture partner, PT Tiga Daun (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming in Indonesia. Arrow's agreements entitle the Company to 10% of all gross revenue generated by all their partners' plantation/farming including any and all sales of natural resources and derivative products.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
For more information about the company, please visit their website at www.arrowrd.com
Peter Frugone, 212-262-2300
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