SILVERDALE, WA / ACCESSWIRE / March 29, 2016 / CGrowth Capital, Inc. (OTC Pink: CGRA) (the “Company”) is pleased to announce that its wholly owned subsidiary CGrowth Capital Bond, Ltd. has received initial subscriptions of its £15,000,000.00 British Pounds Sterling (“GBP”) bond offering in the amount of £7,300,000.00 GBP. The Company’s subsidiary has successfully completed and received the subscriptions and is working towards fulfillment of the remainder of the bond offering.
The bonds subscribed include £4,100,000.00 GBP in cash (or ~$ 5,700,000.00 USD gross proceeds), a note receivable in the amount of £1,900,000.00 GBP, and equity in the amount of £1,300,000.00 GBP. Funding from the bond subscriptions are being used to finance the three (3) bond projects, including the Company’s Powder River basin oil and gas project in Wyoming.
“We are elated to make this announcement!” stated Bill Wright, CEO of CGrowth Capital, Inc. “This is an important milestone and we are not looking back.”
The Company’s subsidiary, Powder River Resources, Inc.’s proven and probable oil reserves, which management estimates to be $250,000,000.00, is the focus of the funding. Powder River Resources, Inc. and CGrowth Capital Bond Ltd. have an umbrella policy of $10,000,000.00 covering the project.
For more information about CGrowth Capital Bond Ltd. visit: http://CGrowthCapitalBond.com.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as an alternative asset management company for businesses and assets focused on all aspects of mining, minerals, exploration, and commercial real estate. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and dolomite to market. CGrowth Capital will focus on acquiring land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations.
For more information and updates about CGrowth Capital, visit their website or Facebook page:
CGrowth Capital, Inc.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words “anticipate,” “estimate,” “expect,” “intend,” “plans,” “projects,” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE: CGrowth Capital, Inc.