NASHVILLE, TN / ACCESSWIRE / September 9, 2015 / Replacing the earlier press release titled, "First Colombia Gold to Acquire Convenience Stores in Alabama," First Colombia Gold Corp (FCGD) announced today that it is in possession of the final purchase agreement to acquire 11 convenience stores in Alabama. On July 28, 2015, First Colombia Gold Corp. announced that it had acquired Enterprise Partners, Inc. and that acquisition included a contract to purchase 11 convenience stores already in operation. These convenience stores, based on initial finances provided by the selling party, are currently producing in excess of $15 Million in combined annual revenue and over one million in annual profits.
Additionally, the company unveiled its long term strategy in combining this new acquisition with a previous deal announced earlier in the year. Jason Castenir, CEO of First Colombia Gold Corp. stated, "In April of this year we acquired the Triangle Restaurant Group along with its quick serve restaurant holdings and management. We are currently in the process of working those restaurant concepts into these convenience store operations, and we have identified at least four of these convenience store locations where we plan to open and operate our own quick serve restaurant concept."
Mr. Pete Iodice, president of Triangle Restaurant Group, stated, "We are very excited about this acquisition. These convenience stores will allow Triangle Restaurant Group and First Colombia Gold to expand operations. These first four locations are prime targets for the operation of our Maryland Fried Chicken franchises, and with these multiple revenue streams in place, we should be able to expand operations quickly."
Since First Colombia Gold Corp. first acquired the Triangle Restaurant Brand, it has been looking for creative ways to work the Quick-Serve Restaurant concept into the larger business model. This is the unveiling of that strategy and one that the company believes will become highly profitable.
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.
SOURCE: First Colombia Gold Corp.