MaxLife Fund Corp. and Capital Growth Planning Inc., form "MaxLife-CGP" Partners LLC., a California based operation. "MaxLife-CGP" expects to build initial portfolios with approximately $25M to $100M dollars in face value of which the Joint Venture anticipates total transactions to exceed 1
Billion dollars in face throughout 2008.
CALIFORNIA, Feb. 25 /PRNewswire-FirstCall/ - MaxLife Fund Corp. (OTC:MXFD). MaxLife Fund Corp. ("MaxLife") and Capital Growth Planning, Inc. ("CGP"), are pleased to announce that they have entered into a joint venture, with each company having an equal interest. "MaxLife-CGP", will acquire life settlement insurance policies for its own inventory, and for resale purposes to institutional buyers.
MaxLife and CGP are working together to fund the new joint venture. It is anticipated that the joint venture will be funded by institutional and private funds. The funding will enable "MaxLife-CGP" to execute its business plan of building initial portfolios of approximately $25M to $100M in face value for resale. Throughout 2008, "MaxLife-CGP's" goal is to develop life settlement policy transactions exceeding $1 billion in total face value. "MaxLife-CGP" will manage all phases of policy acquisitions, settlement and sourcing, back-office support, portfolio building structures and resale strategies.
"We are pleased to partner with a company such as Capital Growth Planning Inc., which has over 35 years experience in the insurance industry. Capital Growth Planning Inc. has exclusive and new innovative products for the fast growing life settlement market. As the life settlement market becomes one of the fastest growing sectors, we expect MaxLife Fund Corp. to expand its operations and create value for our shareholders," stated Mr. Bennett Kurtz, MaxLife Fund Corp., CEO.
Mr. Douglas W. Miller, the CEO of "CGP" quoted, "Capital Growth Planning is extremely excited to be expanding its life settlement purchase/resale strategies through its Joint Venture with MaxLife. A considerable amount of resources and time have been spent toward developing these purchase strategies and the relationships necessary to transact business in this space. Over the last two years, "CGP", has settled and resold, and/or brokered the sale of over 55 policies totaling over $40M in life insurance policy face. "MaxLife-CGP" allows "MaxLife" and "CGP" to coordinate their respective strengths to make this Joint Venture a successful revenue enterprise for both firms."
About Capital Growth Planning, Inc.: Capital Growth Planning, Inc., "CGP", was formed in 1969 as a diversified financial services corporation. "CGP" is the parent company of eight wholly-owned subsidiaries that collectively have designed multiple financial products and programs ("Financial Structures") to take advantage of the significant revenue opportunities to be realized in the life settlement market, the life insurance market, and the broker-dealer securities and advisory markets. Over the last several years, "CGP" has primarily focused in developing and implementing comprehensive structured life settlement brokerage, principal protected investment and securities programs, and premium finance life insurance products. February 1, 2008, "CGP" filed a Provisional Patent Application to protect its proprietary protection "Life Insurance Backed Collateral" investment structure, otherwise known as LIBAC(SM). Other financial services include advanced tax reduction planning and retirement planning. "CGP's" primary role is managing its subsidiary companies, while developing, promoting and marketing its highly specialized, exclusive, and/or proprietary insurance and financial products through joint ventures, wholesale distribution, and/or syndication. "CGP" primarily focuses on products and services that are innovative, structurally sophisticated, and conducive to specific market niches that currently have little or no product/service representation. "CGP's" executive management team has over 250 years combined experience and the average employment of its executives is 23 years.
About MaxLife Fund Corp.: MaxLife Fund Corp. is concentrating on 3 major components of the fast growing Life Settlement sector; to invest in policies for our own inventory, to trade policies in the open market and to build a large portfolio by demand for institutional buyers. MaxLife Fund Corp. is positioning itself to grow with the industry and expand its operation to become one of the leaders in the Life Settlement sector.
Cautionary Statement Pursuant to Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Expressions of future goals and similar expressions reflecting
something other than historical fact are intended to identify
forward-looking statements, but are not the exclusive means of identifying
such statements. These forward-looking statements involve a number of risks
and uncertainties. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks and
uncertainties. The Company undertakes no obligations to revise or update
any forward-looking statements in order to reflect events or circumstances
that may arise after the date of this news release.
For further information contact:
MaxLife Fund Corp.
|SOURCE MaxLife Fund Corp.|
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