SALT LAKE CITY, June 30, 2014 /PRNewswire/ — Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has executed a letter of intent to purchase gold ore concentrates from Noble Metal Kings in an off-take agreement. Definitive documents outlining the details are expected to be entered into within the coming weeks.
The letter of intent states that “Seller agrees to sell and Buyer agrees to buy a minimum of 100 kilograms (3,215 troy ounces) per month, up to as much as Seller can deliver,” with 80% purity, at 85% of spot, for 10 years.
“This transaction is important to us for several reasons,” said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. “Not only will we generate revenue through selling the gold material, but we’ll solidify the vertical through-put in the distribution chain needed to start financing ore related transactions for others—which as I’ve said, is where we believe the bigger business opportunity exists.”
The gold material is expected to be delivered to Quantum Refiners, LLC, in Atlanta, Georgia, which purchased the operations of Gold Rush Refiners, LLC, and assumed the $5.1 million note now owed to Capital Financial Global, Inc.
The Company is seeking to purchase gold ore material with the intent to re-sell it to market participants in the distribution chain, extending its ore distribution and off-take financing capabilities.
Disclosures can be found on the Company’s online disclosure portal at: http://www.otcmarkets.com/stock/CFGX/filings
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.