First Colombia Gold Corp Announces $4.6m Asset Acquisition
23 July 2014 - 6:03AM
First Colombia Gold, Corp. (OTCQB:FCGD) is pleased to announce that
the company has acquired $4.6 million in hard assets from
Kentucky-based SWO & ISM, LLC., Hein Oil, Co., Inc. and Hein
Oil Well Services, LLC., after a series of acquisitions finalized
on Monday, July 21, 2014. This represents 100% of the total assets
acquired through this acquisition.
A brief summary of this acquisition includes land, leases,
vehicles, equipment and bonds that total $4.6m in hard assets.
Newly appointed president Clarence Parks stated, "In addition to
the assets acquired, I am pleased to announce that we have also
acquired a 19.5% equity interest in these three companies, and that
will provide a substantial boost in revenue, not only from
production of oil from these companies, but from the services that
they provide." Mr. Parks continued, "We have the personnel to
offer these services into the market. By retaining existing
personnel, we now have the instant ability to put these acquired
assets to work. We intend to roll out a menu of services,
including acidizing, cement work, completion, drilling, and a host
of other services that will provide cash flow and an opportunity
for multiple revenue streams for the company."
CEO, Dr. Robert Gates, stated, "The land leases attained through
this agreement also include a wealth of oil reserves that remain
untapped. We fully expect, according to the latest survey,
that there could be nearly $200 million in proven oil reserves that
these leases could yield. This is an incredible asset to the
company. Additionally, we intend to do an aggressive leasing
program to extend our acquired acreage and the number of reserves
held by the company."
Dr. Gates continued, "These are very exciting times for our
company and shareholders. This acquisition brings a wealth of
future opportunity and growth for our company. This could not have
been accomplished without the great corporate team that we have
assembled."
About First Colombia Gold
First Colombia Gold Corp. is a capital 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.
Our current activity focus is on precious metal exploration in
Montana in addition to planned initial activities of our energy
division.
Investor Inquiries: David Kugelman, Investor Relations Phone:
(404) 856-9157 / (866) 692-6847 Website:
www.firstcolombiagold.com Email:
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. There is no assurance that the
Company's due diligence on the potential acquisition of oil and gas
assets will be favorable nor that definitive terms can be
negotiated. Information in this release includes representations
form the private companies referred to which has not been
independently verified by the company. A downturn in oil prices
would affect the potential profitability of the proposed
acquisition negatively.
CONTACT: First Colombia Gold
David Kugelman, 404-856-9157
Investor Relations
866-692-6847
www.firstcolombiagold.com
info@firstcolombiagold.com
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