First Guardian Financial Corporation FGFC) today announced that it is holding negotiations to acquire a majority
stake in a privately held residential mortgage lending company located
in the northeastern part of the United States.
The company believes that entry into the residential mortgage
lending area will increase revenues significantly company wide, while
increasing visibility of the company's other products and services.
"With the required due diligence involved in any acquisition, we
will not yet name the company until we review all of the company's
assets and financial information and we have executed a definitive
acquisition agreement, however we do wish to inform our shareholders
of this potential acquisition, given the potential impact on the
company's business going forward," stated, Abraham Rosenman President
First Guardian Financial Corporation. "We anticipate the due diligence
will be completed within the next thirty days, if all information
compiled meets the company's criteria then a definitive agreement
would be entered into immediately."
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing
Commercial Real Estate Financing & Investments for its own portfolio
in small to mid sized businesses. Its primary goal is to provide short
term financing within the commercial real estate market and
investments/financing to businesses either in the start up stage or
growth stage throughout the United States.
This press release does not constitute an offer of any securities
for sale. This press release contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ, including, without
limitation, the company's limited operating history and history of
losses, the inability to successfully obtain further funding, the
inability to raise capital on terms acceptable to the company, the
inability to compete effectively in the marketplace, the inability to
complete the proposed acquisition and such other risks that could
cause the actual results to differ materially from those contained in
the company's projections or forward-looking statements. All
forward-looking statements in this press release are based on
information available to the company as of the date hereof, and the
company undertakes no obligation to update forward-looking statements
to reflect events or circumstances occurring after the date of this
press release.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE MERGER/ACQUISITION
SOURCE: First Guardian Financial Corporation
CONTACT INFORMATION:
First Guardian Financial Corporation
Investor Relations, 212-572-4823
Fax: 212-572-6499
ir@guardianfinancialcorp.com
www.guardianfinancialcorp.com
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