First Colombia Gold Signs $4.8m PSA for Eleven Convenience Stores
NASHVILLE, TN--(Marketwired - Nov 19, 2015) - First Colombia Gold Corp. (OTC PINK: FCGD) announced today that the company has signed the purchase and sale agreement to acquire 11 convenience stores in Alabama. The company is now in a position to close individually on each of the convenience stores. The closings, beginning in December of this year, will roll out on a schedule, concluding by the end of the quarter. These convenience stores will be branded "Norfleet Markets" and are the first in a planned expansion that will include many more stores in the coming year.
The PSA, signed by Enterprise Partners, a subsidiary of First Colombia Gold, includes real estate, physical inventory, merchandise and supplies for all eleven convenience stores.
Mr. Pete Iodice, president of Enterprise Partners stated, "With these stores, we are launching the Norfleet Markets brand and plan to solidify the company's position in the C-Store arena. Our goal is to make Norfleet Markets a brand that is instantly recognizable across the United States."
Mr. Iodice has been involved in the development and operations of convenience stores, travel centers, and quick serve restaurants for over twenty-five years, overseeing as many as fifteen stores and over seventy-five employees. Later, Mr. Iodice managed a group of nine convenience stores and two 24-hour truck stops, later forming and operating a wholesale fuel distribution business as a direct distributor for most major gasoline brands, selling over fifty million gallons per year.
This announcement comes on the heels of the company's previous press releases stating the company's focus on fuel distribution through a recently acquired fuel terminal located in North Carolina. Jason Castenir, CEO of First Colombia Gold, stated, "This fuel terminal, alongside the company's partnership with Singa Energy, allows the company to expand within its business model. The company has been working very hard to secure multiple, high-yield streams of revenue, and each step we take gets us closer to that goal. I believe strongly in the path we are taking, and am excited for the future of this company."
Recently, the company announced its partnership with Singa Energy Solutions, a global distributer of fuel and energy products, and has yielded some spectacular results. This week, the company is in the process of securing multiple diesel distribution deals, and expects to be able to make additional announcements regarding the company's progress within the coming weeks.
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 from 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.
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