Andros Isle Acquires Bahama Beachfront
BAHAMAS, June 8, 2006. Andros Isle Development Corp proudly announced that its Bahamian Division, Andros Isle Development Ltd., signed a "Letter of Intent" to acquire a 198-acre parcel of beachfront property in North Andros Island in the Commonwealth of the Bahamas.
The parcel is located just south of Morgan's Bluff on the eastern coast of North Andros.
The company has cancelled its Development Agreement with the Campbell/Storr family and plans to move forward with its planned luxury, resort development on this new parcel.
This move gives Andros Isle Development Corp. a 99% ownership stake in the development property as opposed to the 40% stake the company had in the Campbell/Storr Development Agreement.
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