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Capital Financial Global To Provide $1 Million Secured Credit Facility To Gold Rush Refiners
|By PR Newswire
|March 26, 2014 06:00 AM EDT
SALT LAKE CITY, March 26, 2014 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has signed a letter of intent to provide a $1 million revolving secured credit facility to Gold Rush Refiners, LLC, a distressed Georgia based gold and precious metals refinery. The facility will be offered exclusively for the purpose of acquiring gold and precious metals inventory and will be secured by both the inventory itself, and a senior position on the refinery.
"Now that we own more than $5 million of debt in Gold Rush Refiners, we want to make sure they regain profitability and have the cash flow to make the debt payments," said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. "This revolving credit facility will give them the ability to increase their buying capacity and let them resume purchasing the gold and precious metals inventory that feeds their entire refining operation. Putting this facility in place will give us the ability to structure a loan workout schedule that will be mutually beneficial."
The credit facility will be funded using a syndicated loan participation with Capital Financial Global as the lead lender.
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.
Our Market Positioning & Differentiation
Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.
Our Revenue Model
We seek revenue from loan fees, interest rate spreads on loans we hold, and margins on loans sold in whole or in part to institutional investors, hedge funds, or other secondary market participants. We also seek revenue by charging loan servicing fees and by selling distressed assets that we acquire for our own investment or through some type of foreclosure.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information please contact:
Capital Financial Global, Inc.
Email: [email protected]
Facebook: "Capital Financial Global, Inc. Ticker: CFGX"
SOURCE Capital Financial Global, Inc.
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