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Capital Financial Global Completes Merger With Affiliated Funding Corporation, Invoice Factoring and Commercial Finance Business
SALT LAKE CITY, March 22, 2019 (GLOBE NEWSWIRE) -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully completed a merger with Affiliated Funding Corporation (“AFC”), an invoice factoring and commercial finance business.
The result of the transaction is that AFC has merged with and into CFGX, and CFGX is now the surviving entity.
“We thank the guys from Affiliated for working so fast to get this done and we welcome them to our team,” said Paul Edward Norat, CEO of Capital Financial Global. “As I’ve pointed out before, this merger is a huge development for us because it comes with an existing credit facility to fund loans with, software and infrastructure to handle growth, and two seasoned professionals to join us.”
“We love the synergy that will result from our merger and feel like we just started something big,” said Ronald N. Hyatt, former CEO of Affiliated Funding Corporation. “Now it’s time to roll up our shirt-sleeves and get to work.”
The merger consideration was composed of a combination of restricted preferred stock and new debt. The Company does not have any plans for a reverse-split in connection with the merger.
It is anticipated that commercial finance, including invoice factoring, will form an informal business segment that will supplement CFGX’s existing real estate and life settlement backed funding pursuits.
The Company plans to release an updated plan of operations in the weeks to come. Disclosures can be found on the Company’s website and its online disclosure portal at:
https://www.capfiglobal.com/
https://www.otcmarkets.com/stock/CFGX/disclosure
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Capital Financial Global in Talks to Acquire Affiliated Funding Corporation, Invoice Factoring and Commercial Finance Business
SALT LAKE CITY, UT–(February 25, 2019) – Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has executed a letter of intent to acquire all of the outstanding stock of Affiliated Funding Corporation (“AFC”), an invoice factoring and commercial finance business.
The result of the transaction will be that AFC will merge with and into CFGX, and CFGX will be the surviving entity on the closing of the Merger. The closing of the Merger is subject to the execution of a final Agreement and Plan of Merger, and the satisfaction of certain conditions, including approval by all of the AFC Stockholders.
“This merger comes with an existing credit facility to fund loans with, software and infrastructure to handle growth, and two seasoned professionals to join CFGX and execute our combined business objectives,” said Paul Edward Norat, CEO of Capital Financial Global. “AFC’s management team have been in the industry since 1993, and we’ll get the benefit of more than 15 years of AFC’s profitable history, along with their existing client book and revenue stream. I couldn’t be more pleased with the forward momentum that this will give us.”
“After engaging in several rounds of informal discussions, we feel that joining forces with CFGX will enable us to accomplish much more over the long-term,” said Ronald N. Hyatt, CEO of Affiliated Funding Corporation. “This will be a true case of synergistic alignment that will make us both much better together than we could have been apart. We can’t wait to close the merger and get to work as part of CFGX’s management team.”
The letter of intent calls for the purchase price to be paid in the form of a combination of restricted preferred stock and new debt.
It is anticipated that commercial finance, including invoice factoring, will form an informal business segment that will supplement CFGX’s existing real estate and life settlement backed funding pursuits.
The Company plans to release an updated plan of operations in the weeks to come. Disclosures can be found on the Company’s website and its online disclosure portal at:
https://www.capfiglobal.com/
https://www.otcmarkets.com/stock/CFGX/disclosure
******************************** Capital Financial Global Announces Letter of Intent for Possible Life Settlement Transaction
SALT LAKE CITY, UT–(March 24, 2017) – Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has signed a Letter of Intent to enter into a possible arrangement involving the potential acquisition of cash flows derived from the death benefit payouts from various portfolios of senior life settlement policies.
“This marks a clear path to our going-forward business model,” said Paul Edward Norat, CEO of Capital Financial Global, Inc. “We expect big things to come as a result of this agreement. We plan to fundamentally change how the life settlement industry accesses the capital markets.”
The completion of the foregoing transactions are subject to the negotiation of complex, multi-party definitive agreements; the satisfactory review by each party of the business and financial condition of other parties; each party’s analysis of the ability of each other party to perform its commercial obligations; the accuracy of representations and warranties and the satisfaction of conditions that will be included in the definitive agreements; compliance with regulatory matters; the approval of certain legal matters; and various other matters not currently identified. Our ability to participate as proposed in these transactions is dependent on our ability to obtain third party credit enhancements to support debt offerings; our ability to obtain the necessary funding that we will be obligated to provide; our ability to recruit and retain experienced financial and insurance executives to become a credible participant and manage our contractual obligations; our ability to prepare updated financial statements, obtain audits, and prepare regulatory filings; the registration of our common stock under the Securities Exchange Act of 1934 and meet ongoing periodic reporting obligations; the development of a viable trading market in our securities; and other factors. Many of the foregoing are outside our control or influence. We cannot assure that the necessary definitive agreements will be negotiated and signed, that we will be able to perform our contractual obligations, or that, if we do, we will derive revenues therefrom.More definitive details will be released as the various components of the Letter of Intent become solidified.
A copy of the Letter of Intent can be review here: LOI Details
The Company plans to release an updated plan of operations in the weeks to come.
Disclosures can be found on the Company’s website: Company filings and its online disclosure portal at: OTC Markets