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Capital Financial Global To Acquire $25MM Gold Ore Stockpile, Extending Distribution For Ore Financing Activities
Capital Financial Global To Acquire $25MM Gold Ore Stockpile, Extending Distribution For Ore Financing Activities.
About this update from Capital Financial Global, Inc.
[{"type":"text","content":"\n\n\n\nCapital Financial Global To Acquire $25MM Gold Ore Stockpile, Extending Distribution For Ore Financing Activities\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\nCapital Financial Global To Acquire $25MM Gold Ore Stockpile, Extending Distribution For Ore Financing Activities\nPR Newswire\nSALT LAKE CITY, Dec. 3, 2013\n\n\n\nSALT LAKE CITY, Dec. 3, 2013 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has signed a Letter of Intent to acquire a stockpile of ore containing gold and other precious metals for the purchase price of $25 million dollars, or approximately 70% of the value of the estimated unrecovered gold in the acquired material.  \n\nThe purchase is subject to CFGX's completion of a due diligence sampling and assay of the material to confirm gold recoverability in agreed amounts.  Capital Financial Global will seek a buyer for the gold prior to formalizing the purchase.\n\n\"Our Mining & Precious Metals division has been working on developing a way to finance ore for mine owners,\" said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. \"This transaction will allow us to test our ore liquidation channels, which is essential if we are going to do lending based on ore as the collateral. This will be a big step toward our goal to be able to monetize mines, ore, dore bars, and other precious metal products in their various stages of the production cycle.\"\n\nAbout Capital Financial Global, Inc.\n\nCapital 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.\n\nOur Market Positioning & Differentiation\n\nUnlike 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 co...