First Colombia Gold Corp Announces $4.6m Asset Acquisition
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.