NASHVILLE, TN - (NewMediaWire) - November 10, 2015 - First Colombia Gold Corp (OTC PINK: FCGD) announced today that the company closed on the purchase of a fuel terminal located in Greensboro, NC. The acquisition is the first in a series of acquisitions that will bring revenue for the company. The fuel terminal, located in Guilford County, was acquired on November 4 by Enterprise Partners, Inc., the subsidiary acquired in February of this year by First Colombia Gold.
Mr. Pete Iodice, president of Enterprise Partners, stated, "This terminal will allow us to bring revenue through the sales of diesel and other fuel products. Having already secured product and fuel capacity, we are ready to enter this market and expect to generate significant revenues."
For distribution, the company has signed a Joint Venture Agreement with Singa Energy Solutions, a major energy company based out of Bangkok, Thailand. Singa Energy recently secured a Country-to-Country agreement for a 5000 Megawatt Electrical power plant project in the Konya/Karaman area of Turkey and is a global distributer of fuel and energy products. First Colombia Gold and Signa Energy are currently working on providing diesel products to Suriname, the British Virgin Islands, and other Caribbean destinations.
CEO Jason Castenir stated, "This partnership with Singa Energy is a major step for First Colombia Gold and marks a major milestone for the company. They are a very well-developed company with great outlets for fuel and energy; our newly formed relationship with their company will have a significant impact on our ability to market fuel products throughout this region. We look forward to a long business relationship with Singa, and are very excited about the positive effects this relationship will have on our company's future."
Additionally, First Colombia Gold plans to execute the final purchase and sale agreement within the next 10 days to acquire 11 convenience stores in Alabama. "All parties have approved the final version of the purchase agreement," stated Mr. Castenir. "We are now awaiting final signatures to complete the transaction." The company stated they will be releasing more details regarding that purchase in the coming days.
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.