HOUSTON, Jan. 31, 2005 (PRIMEZONE) -- CortDev, Inc. (Pink Sheets:CDVJ), a real estate development company, today announced that the multi-million dollar joint residential development project with Norfolk, Virginia-based development company, Zanahary Group Inc., is on schedule. Preliminary field inspection by the Army Corp. of Engineers has indicated that the land is free of wetlands and there is a possibility that an additional three units can be constructed. This is a positive development for both CortDev Inc. and Zanahary Group Inc. that will increase the revenue and profits of this development project. In addition, the survey and subdivision plan are near completion by a local engineering firm. These documents will be submitted to the Local Planning Office for re-zoning and variance approval on February 8.
About Zanahary Group Inc.
Zanahary Group Inc. owns a Class A contractor license -- classification building, in the State of Commonwealth of Virginia. It has been in operation since 1997 and has completed numerous construction projects, notably with the U.S. Government. For additional information contact CEO Ade Okusaga at 757-461-2692.
For more information please contact CEO Andrea Cortellazzi at 514-288-9699.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.