|By Marketwired .||
|January 11, 2013 05:56 PM EST||
TAMPA, FL -- (Marketwire) -- 01/11/13 -- American Community Development Group, Inc. (PINKSHEETS: ACYD)
Effective today, January 11, 2013, the Board of Directors of American Community Development Group, Inc. announces termination of John D. Folger as Director, CEO and President of the Company effective immediately.
An interim CEO and/or President will be appointed by the Board up coming. Until such time, all communications should be directed to David Gray, COO/CFO, [email protected].
About American Community Development Group, Inc.
American Community Development Group, Inc. is a for-profit corporation originally founded to provide advisory support and management guidance to the non-profit community to assist their support of various economically distressed citizens. ACYD believes in the concept of "social entrepreneurship" as stewards of our investors' and our own resources while also creating strong economic returns on the Company's capital.
ACYD, in its capacity as a Holding Company, will acquire regional or national businesses that indicate significant revenue contributions potential. ACYD will acquire assets in local businesses, multi-family, affordable housing and other high occupancy commercial real estate properties. The Company reaffirms its commitment to break new ground as a national provider of affordable housing services by specializing in client residents that have been previously under-served.
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