Omega Commercial Finance Corp (fka OCFN)

[J_Ehrat]

Omega Commercial Finance Corporation Strengthens Balance Sheet With $3-Million Cash Investment

"Management Sold Its Commons Stock for $0.10 per Share"

MIAMI BEACH, FL--(Marketwired - Oct 7, 2013) - Omega Commercial Finance Corporation (OTCQB: OCFN), a publicly traded financial holding company, is pleased to announce the closing of a $3 Million equity investment through the direct placement of its common stock to three private investors on September 13, 2013.

The 30 million shares purchased at $0.10 per share illustrated the shares were valued and purchased at a premium based on the market's closing price at the time of the purchase. This transaction was facilitated through OCFN's Direct Public Offering, which provides for the direct sale of these registered shares to investors pursuant to the company's S-1 registration statement that became effective on January 30, 2013.

Considering this is new cash "bodes well" for third-quarter results, specifically by strengthening OCFN's balance sheet. Strategically, as a small-cap company with its increased Paid-in-Capital i.e. "cash," OCFN has begun negotiations with additional institutional investors for future equity investments. Jon Cummings IV, President of OCFN, commented, "We are very excited and extremely fortunate to have the support of these private investors along with their investment advisor, who believe in OCFN's long-term future."

To continue its diversified ownership of companies, OCFN intends to use the proceeds from this $3 Million investment to shape its growth strategy stemming from its currently owned minority stake in a full service broker dealer -- VFG Securities Inc. and VFG Advisors Inc. with $170-MM in AUM, and future acquisitions of other comparable financial firms.

With great foresight, OCFN's management implemented its own Direct Public Offering (DPO) strategy, which is similar to an initial public offering (IPO) in that the common stock is sold directly to long-term investors and the proceeds are received by the Company. However, unlike an IPO, a company raises capital both privately and directly from investors without the assistance of retail brokers or placement agents.


http://www.marketwired.com/press-release/omega-commercial-finance-corporation-strengthens-balance-sheet-with-3-million-cash-investment-otcqb-ocfn-1838304.htm