SALT LAKE CITY, Dec. 3, 2013 /PRNewswire/ -- Capital
Financial Global, Inc. (OTC Pink: CFGX), announced today that it
has signed a Letter of Intent to acquire a stockpile of ore
containing gold and other precious metals for the purchase price of
$25 million dollars, or approximately
70% of the value of the estimated unrecovered gold in the acquired
material.
The purchase is subject to CFGX's completion of a due diligence
sampling and assay of the material to confirm gold recoverability
in agreed amounts. Capital Financial Global will seek a buyer
for the gold prior to formalizing the purchase.
"Our Mining & Precious Metals division has been working on
developing a way to finance ore for mine owners," said Mr.
Paul Edward Norat, CEO of Capital
Financial Global, Inc. "This transaction will allow us to test our
ore liquidation channels, which is essential if we are going to do
lending based on ore as the collateral. This will be a big step
toward our goal to be able to monetize mines, ore, dore bars, and
other precious metal products in their various stages of the
production cycle."
About Capital Financial Global, Inc.
Capital Financial Global, Inc. (CFGX) is a specialty finance
company that offers asset-backed financing and loan advisory
services to insurance trusts & pension funds, owners of
commercial real estate, owners of residential real estate
portfolios, and owners of mining & precious metals assets.
Our Market Positioning & Differentiation
Unlike traditional banking models, CFGX offers organizations
needed liquidity by using an asset-backed approach rather than a
traditional credit approach to originating new loans, buying and
selling existing loans, and converting distressed collateral into
cash or trade-able form.
Our Revenue Model
We seek revenue from loan fees, interest rate spreads on loans
we hold, and margins on loans sold in whole or in part to
institutional investors, hedge funds, or other secondary market
participants. We also seek revenue by charging loan servicing
fees and by selling distressed assets that we acquire for our own
investment or through some type of foreclosure.
Forward-looking statements:
Statements in this press release relating to plans, strategies,
economic performance and trends, projections of results of specific
activities or investments, and other statements that are not
descriptions of historical facts may be forward-looking statements.
Forward-looking information is inherently subject to risks and
uncertainties, and actual results could differ materially from
those currently anticipated due to a number of factors, which
include but are not limited to, risk factors inherent in doing
business. Forward-looking statements may be identified by terms
such as "may," "will," "should," "could," "expects," "plans,"
"intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential," or "continue," or similar terms or the
negative of these terms. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. The company has no obligation to update these
forward-looking statements.
For more information please contact:
Capital Financial Global, Inc.
Investor Relations
Tel: 888-801-9715
Email: ir@capfiglobal.com
www.capfiglobal.com
Twitter: @CFGX
Facebook: "Capital Financial Global, Inc. Ticker: CFGX"
SOURCE Capital Financial Global, Inc.