Rubicon Financial Incorporated Announces $2,000,000 Financing
IRVINE, Calif., Dec 05, 2007 (BUSINESS WIRE) -- Rubicon Financial Incorporated
(RBCF) today announced the closing of a strategic private placement from American
International Industries, Inc. (NasdaqCM: AMIN) for an aggregate of $2,000,000
through the sale and issuance of 1,000,000 shares of Rubicon's restricted common
stock at a purchase price per share of $2.00.
"This strategic investment further augments our ability to implement our business
model and growth as a diversified financial services company," said Rubicon CEO,
Joe Mangiapane. "It is greatly rewarding to see our hard work and effort gain
such recognition, as evidenced by the faith and confidence AMIN has shown in our
business model through this investment."
AMIN invested $1,000,000 in cash and issued 200,000 shares of its restricted
common stock to satisfy the purchase through the execution of a securities
purchase agreement. Cash proceeds from this financing are anticipated to be used
by Rubicon for general working capital and funding of new financial service
divisions. Rubicon currently intends to hold the AMIN shares as an investment.
About Rubicon:
Rubicon Financial Incorporated is a publicly-traded holding company that intends
to acquire private companies in the financial services industry and leverage
their strengths within a holding company structure. Rubicon has located its
headquarters to the Orange County area of Southern California in order to
capitalize on the perceived large and sophisticated customer base located there.
The types of financial services Rubicon intends to offer are those of: insurance,
both personal and commercial; mortgage and real estate services; retail brokerage
services; securities market making; online trading; and investment banking for
small to midsized companies. Each segment of these services will be an individual
licensed entity under the parent holding company of Rubicon. Rubicon currently
has several letters of intent to acquire private companies that it plans to
execute in the near future.
A copy of the securities purchase agreement will be filed as an exhibit to a Form
8-K, which will be available through the SEC's website
