|By PR Newswire||
|July 30, 2014 06:07 AM EDT||
SALT LAKE CITY, July 30, 2014 /PRNewswire/ -- Capital Financial Global, Inc. (OTC Pink: CFGX), announced today that it has successfully acquired a ten-year stream of gold ore concentrates in an off-take agreement with mining company Noble Metal Kings.
The agreement calls for a minimum of 100 kilograms (3,215 troy ounces) per month, at 80% purity, with a price of 85% of spot, spanning a period of 10 years.
"We expect this transaction to provide us with a ten-year income stream," said Mr. Paul Edward Norat, CEO of Capital Financial Global, Inc. "As we generate revenue through selling the gold material, we'll solidify the vertical through-put we need in the distribution chain to start financing ore-related projects, which is a market in which we believe we can effectively compete."
The acquired gold material is expected to be delivered and sold to Quantum Refiners, LLC, in Atlanta, Georgia, which owes upwards of $5.1 million dollars to Capital Financial Global, Inc.
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.
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SOURCE Capital Financial Global, Inc.