LAS VEGAS, NV -- (Marketwire) -- 07/07/11 -- 1st Global Financial Corporation (PINKSHEETS: FGBF) is proud to announce that it has completed the purchase of over 100 acres of undeveloped commercial property located in the city of Desert Hot Springs. The purchase price was over $1,000,000 which includes the existing property taxes. 1st Global Financial Corporation is now seeking renewable energy solar companies that may have an interest in leasing out the property to produce electricity. The site is fairly level, has easy street access and is close to major electrical power lines which make the property ideal for a photovoltaic solar development. This is the first property that the company actually completed the acquisition of and was paid with the Company issuing restricted shares for the purchase price.
John Bannister, President of FGBF, stated, 'We are pleased to have completed this first stage in sourcing land suitable for renewable energy projects and we plan to make further acquisitions this year. Additionally, we are now nearing the launch of our Bond issue to raise capital to fund our planned property acquisitions during the next two fiscal quarters. We will be making further announcements regarding this important development shortly.'
For additional information about 1st Global Financial Corporation please visit our website, www.1stglobalfinancialcorp.com
Safe Harbor Statement: This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as FGBF or its management 'believes,' 'expects,' 'anticipates,' 'foresees,' 'forecasts,' 'estimates' or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
1st Global Financial Corporation
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