FORT LAUDERDALE, FL /PRNewswire-FirstCall/ -- New Bastion Development, Inc. ("New Bastion") (OTC Pink Sheets: NWBA); a real estate company that was formed for the purpose of exploiting local real estate opportunities in the Panama City Beach/Marianna, Florida area,(top left photo) announced that it had entered into an agreement with a local timber company to purchase a 757 acre tract of land just east of Hwy. 231 in Jackson County, Florida.The transaction is subject to a short due diligence period and is scheduled to close in 60 days.
"We believe that Jackson County, Florida offers our company a tremendous opportunity," stated Elliot Bellen, CEO of New Bastion.
"Its magnificent beauty and proximity to the beautiful, white, sandy, Gulf coast beaches of Northwest Florida coupled with the imminent opening of the
new Panama City international airport in May 2010 should create tremendous demand in the region for decades to come.
"New Bastion intends to be a major participant in this growth, and we feel that this property will provide us with excellent development opportunities."
CONTACT: Michael Queen, +1-302-998-8824, for New BastionWeb Site: http://www.newbastiondevelopment.com/
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