First Guardian Financial Corporation to Participate/Joint Venture in Proposed Hotel & Casino Project
Wednesday June 21, 9:01 am ET
NEW YORK--(BUSINESS WIRE)--June 21, 2006--First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced that they have entered into an agreement to participate/joint venture in a 50 acre parcel for development of a hotel/casino project.
The company (FGFC) has agreed to a joint venture that will acquire a 50 acre parcel located in Woodstock, Ontario, Canada. First Guardian Financial Corporation will be the majority partner (controlling 51% or better of the joint venture).
First Guardian Financial Corporation will invest up to $3,000,000.00 (Canadian) for the venture (land acquisition only) and we will rely on the issuance of bonds or traditional financing for the development (construction) of the property.
"This is a fantastic opportunity/deal for our company and we are extremely excited about this particular venture, we are very pleased that this deal was brought to us as it speaks for the creditability and belief in our young company. I would like to thank our executives who traveled to Canada this weekend to bring this deal together." Said Abraham Rosenman President First Guardian Financial Corporation
About First Guardian Financial Corporation:
The company is a Financial Holding Company currently providing Commercial Real Estate Financing & Invests 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 invest and or provide secured short term 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.
Contact:
First Guardian Financial Corporation
Investor Relations, 212-572-4823
Fax: 212-572-6499
ir@guardianfinancialcorp.com
www.guardianfinancialcorp.com
Source: First Guardian Financial Corporation
