First Colombia Announces Plans To Acquire Oil And Gas Assets
13 June 2014 - 12:00AM
Business Wire
First Colombia Gold (OTCQB: FCGD) is pleased to announce
plans to acquire oil and gas assets as part of its expansion. The
goal of management is to become a Natural Resource company focused
on building shareholder value in Energy, Mining and Land
opportunities.
The recent appointment of Dr. Robert Gates as CEO and Director
of First Colombia brings over forty years of experience in mergers,
acquisitions, and the energy sectors. Mr. Gates was previously
retained by the company as a consultant to advise the board on long
term strategic development, building on the company’s work the past
years which resulted in a recommendation to the Board of Directors
to transform the company into a Natural Resource company. We plan
to announce our initial acquisition of oil and gas assets sometime
in the third quarter.
President and CEO, Robert Gates, commented, “Our current plans
call for First Colombia to acquire a pipeline of oil and gas
projects, which we believe have solid potential for building
shareholder value. Since concluding our recent business evaluation
and receiving Board of Directors approval we plan to hit the ground
running to meet 2014 objectives.”
Energy Division
Our business strategy is to acquire energy interests via a
“roll-up” strategy targeting potential and producing wells and
distribution that can be improved utilizing modern technology and
capital infusion for expanding or re-initiating production. This
initiative represents a key near and medium term strategic
objective for the company.
First Colombia has been conducting due diligence in the
alternative energy sector in Southeastern Europe which is promising
due to approaching grid parity, EEC mandates for alternative energy
usage combined with government direct revenue support programs.
Our key 2014 objectives include:
- The acquisition of one to three US oil
and gas projects or businesses in 2014, with a key objective of
initiating cash flow in the near term.
- Completing the evaluation of European
alternative energy projects by the fall of 2014, with a decision on
an initial project made by that time.
Mining Division
First Colombia has retained an experienced VP of Mining to
evaluate current and future planned activities for our mining
activities in light of our revised business strategy. Our current
focus is on precious metal exploration and acquisition in Montana.
We are currently conducting due diligence on industrial mineral
opportunities with near term cash flow potential in Europe.
Management will consider strategic partnerships or spin-offs, as
well as additional acquisitions, subject to our revised criteria
for near to medium term cash flow and growth in assets.
Our key 2014 objectives include:
- Conducting initial evaluation and site
work at the Nile Mine Gold and Silver Project
- Revise mining division business model
to focus on more advanced projects
- Acquire additional mineral property
interests
International Division
First Colombia has significant international experience and has
identified projects of merit that fit within the criteria of the
company’s revised business strategy. As a Natural Resource company
First Colombia will have expanded flexibility to consider projects
that meet the criteria of developing near to medium term growing
cash flow and growth in assets. These include energy, alternative
energy, mining, and development projects.
Our key 2014 objectives include:
- Completing due diligence of government
guaranteed alternative energy projects
- Initiating, subject to favorable due
diligence, projects subject to favorable internal rates of
return.
About First Colombia Gold
First Colombia Gold Corp. is a Natural Resources company focused
on acquiring, developing and advancing natural resource, energy,
and real estate projects in Europe, North America, and South
America. Our business model is to acquire undervalued assets
combining potential for building assets values and cash flow
through leverage to improved operational efficiencies and
development
Investor Inquiries:David Kugelman, Investor RelationsPhone:
(404) 856-9157 / (866) 692-6847Website:
www.firstcolombiagold.comEmail: info@firstcolombiagold.com
Disclaimer
This release contains forward-looking statements that are based
on beliefs of First Colombia Gold Corp. management and reflect
First Colombia Gold Corp.'s current expectations as contemplated
under section 27A of the Securities Act of 1933, as amended, and
section 21E of the Securities and Exchange Act of 1934, as amended.
When we use in this release, the words "estimate," "project,"
"believe," "anticipate," "intend," "expect," "plan," "predict,"
"may," "should," "will," "can," the negative of these words, or
such other variations thereon, or comparable terminology, are all
intended to identify forward looking statements. Such statements
reflect the current views of First Colombia Gold Corp. with respect
to future events based on currently available information and are
subject to numerous assumptions, risks and uncertainties, including
but not limited to, risks and uncertainties pertaining to
development of mining properties, changes in economic conditions
and other risks, uncertainties and factors, which may cause the
actual results, performance, or achievement expressed or implied by
such forward looking statements to differ materially from the
forward looking statements. The information contained in this press
release is historical in nature, has not been updated, and is
current only to the date shown in this press release. This
information may no longer be accurate and therefore you should not
rely on the information contained in this press release. To the
extent permitted by law, First Colombia Gold Corp. and its
employees, agents and consultants exclude all liability for any
loss or damage arising from the use of, or reliance on, any such
information, whether or not caused by any negligent act or
omission. This press release incorporates by reference the
Company's filings with the SEC including 10k, 10Q, 8K reports and
other filings. Investors are encouraged to review all filings.
There is no assurance First Colombia Gold Corp. will identify
projects of merit or if it will have sufficient financing to
implement its business plan.
For First Colombia GoldInvestor Inquiries:David Kugelman,
Investor Relations(404) 856-9157 / (866)
692-6847www.firstcolombiagold.cominfo@firstcolombiagold.com
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