SALT LAKE CITY, June 13, 2012 /PRNewswire/ -- Capital Financial Global, Inc. (PINKSHEETS: CFGX), announced today it has engaged Toronto based investment banking firm IBK Capital Corp to raise up to $3,000,000 in a private placement for units and warrants in its distressed St. Louis Mine.
"We are very excited to have the pleasure of working with IBK Capital Corp. because they have an impressive track record that we can trust in raising funds for projects very similar to our [St. Louis] gold mine," said Mr. Paul Norat, CEO of Capital Financial Global, Inc.
"For the sake of investors who might be newly following our Company, I'd like to clarify why we are talking about mining projects. We are not a mining company, we are an asset-backed finance company. As we execute our core business plan of originating, buying, and selling asset-backed loans, we know that we will end up having to foreclose on some of the assets that serve as the collateral. In the case of the St. Louis Mine, we acquired a non-performing loan in 2011 in a package deal, and thus, we ended up with the mine attached to it. We now have the luxury of bringing the mine back into production and having it as a long-term value producing asset on our balance sheet," explained Mr. Norat. "Now that we have IBK Capital on board to help us raise the first $3,000,000, we feel our shareholders will be in a much better position, as a result."
For more information about IBK Capital Corp., please visit their website at: http://www.ibkcapital.com/ .
The St. Louis mine is comprised of 85.5 acres near Searchlight, Nevada, containing five patented lode mining claims. For more information about the mine please visit our "Investor Center" at http://www.capfiglobal.com/investor-center/projects .
For additional information, please contact our Investor Relations department toll free at 888-801-9715 or by emailing [email protected].
About Capital Financial Global, Inc.
Capital Financial Global, Inc. (OTC:CFGX) is a specialty finance company that provides 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.
Unlike traditional banking models, CFGX helps organizations obtain 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. We are the preferred alternative to traditional bank financing.
Our Business Model
We make money by charging loan fees, making interest rate spreads on loans we hold, and by buying & selling loans in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also make money 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 within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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.