LAS VEGAS, Oct. 14, 2011 /PRNewswire/ -- 1st Global Financial Corporation (OTC: FGBF), a real estate holding and trading company creating strategic partnerships with individual and institutional owners of property portfolios in Ireland, the United Kingdom, Europe, USA and the Caribbean, announced today that its financial backers have provided the Company with proof of funds of one billion euro to purchase real estate from Republic of Ireland National Asset Management Agency (NAMA).
1st Global has already made several offers, with its proof of funds, to purchase commercial real estate assets from NAMA.
1st Global will also be meeting with NAMA's representatives early next week to explore the possible acquisition of additional NAMA assets.
John Banister, President of 1st Global, stated, "1st Global is proud to make this announcement affirming our commitment to participate in the economic revival of the Republic of Ireland. We look forward to making important announcements in the coming fiscal year as our business plan matures and our projects become active in the Republic of Ireland. Our financial backers are looking forward to completing several acquisitions of NAMA assets before the end of this year."
1st Global will announce the assets once they have been acquired from NAMA after following the required regulatory procedures.
About 1st Global Financial Corporation
1st Global Financial Corporation (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.
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