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CFGX Big news Out >> Capital Financial Global Completes Acquisition of Distressed Refinery Debt
Date : 03/18/2014 @ 6:00AM
Source : PR Newswire (US)
Stock : Capital Financial Global, Inc. (PC) (CFGX)
Quote : 0.0014 0.0 (0.00%) @ 7:59AM


SALT LAKE CITY, March 18, 2014 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully completed the acquisition of $5.1 million dollars of debt in Gold Rush Refiners, LLC, a distressed Georgia based gold and precious metals refinery. The debt was acquired in exchange for $1.7 million dollars' worth of the Company's Series B Preferred Stock.

"Now that we've acquired the debt, our plan is to re-age it and structure a work-out that will allow the refinery to cash flow and get back on its feet," said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. "The folks at Gold Rush Refiners have a great business model and a talented team of professionals. As we work with them to structure a realistic re-payment plan, we believe they will be able to bounce back and regain profitability and competitiveness. The end goal, of course, is to receive the long-term incoming cash flow that the restructured loans will provide us, once they become performing."

Disclosures can be found on the Company's online disclosure portal at: http://www.otcmarkets.com/stock/CFGX/filings

More information about Gold Rush Refiners, LLC can be found by visiting their website at: http://www.goldrushrefiners.com/

About Capital Financial Global, Inc.

Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services to insurance trusts & pension funds, owners of commercial real estate, owners of residential real estate portfolios, and owners of mining & precious metals assets.

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