1st Global Financial Corporation Enters Into Definitive Agreement to Purchase Its First Acquisition in Europe Utilizing the Line of Credit

LAS VEGAS, Nov. 29, 2011 /PRNewswire/ -- 1st Global Financial Corporation (OTC: FGBF) is pleased to announce that It has entered into a definitive agreement to acquire its first asset in SW2, London, UK. This currently occupied (tenanted) property is being purchased directly from a UK bank.  

This acquisition will provide FGBF with a yield of 13% return on investment year to year from the current rental income being generated.  The Company has presented other offers to purchase properties that meet 1st Global's criteria and has good expectations of having several of these offers accepted.  The Company is also expecting to close several of those purchases before year-end.

1st Global Financial Corporation's President, Johnny Bannister, said, "We are now bringing to a conclusion the process of making offers on properties that we have identified as bringing significant benefits to our shares holders. We are waiting for developments on certain substantial offers we have made between $1 million and $230 million values.  If any of those offers are accepted we will attempt to close them also before the end of the year."

About 1st Global Financial Corp OTC FGBF is creating strategic partnerships with individual and institutional owners of property portfolios in Ireland, the United Kingdom, Europe, USA and the Caribbean to finance the acquisition of those portfolios. 1st Global Financial Corporation has selected a range of properties including hotels, commercial retail and office, and leisure developments to provide a comprehensive income generation to facilitate growth in the Corporation.

1st Global intends to present to the investment community at all levels an opportunity to participate in solid property asset acquisition with steady income projection. The Corporation plans to issue a series of asset backed bonds in this financial year and has begun the confidential negotiations with book-runners and institutional investment managers in Europe, China, and the Middle East to facilitate that intention.

Safe Harbor Statement: This update includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as 1st Global Financial Corporation or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

1st Global Financial Corporation
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SOURCE 1st Global Financial Corporation