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.
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.
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Capital Financial Global, Inc.
SOURCE Capital Financial Global, Inc.