NEW JERSEY, June 16 /PRNewswire-FirstCall/ - MaxLife Fund Corp. (OTC:MXFD), is pleased to announce that they have declared the first quarterly dividend to shareholders of its outstanding preferred shares. The dividend declared is for $0.0625 per preferred share and is cumulative and paid quarterly. Each preferred share was sold at $25 per share and was purchased via the unit offering from MaxLife Fund Corp.
The dividend is payable August 31, 2008, to preferred shareholders of record on August 6, 2008. The ex-dividend date will be August 4, 2008.
"We have prepared a unit offering that enables investors and shareholders to participate in the fast growth industry of life settlements. The dividend yields 10% per annum and gives investors the attractive yield they desire. We believe this funding will strengthen the equity base and enables MaxLife to execute on its business plan," stated Mr. Bennett Kurtz, President and CEO of MaxLife Fund Corp.
About MaxLife Fund Corp.: MaxLife Fund Corp. is concentrating on 3 major components of the fast growing Life Settlement sector; (1) to invest in policies for our own inventory, (2) to trade policies in the open market and (3) 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.
|SOURCE MaxLife Fund Corp.|
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