SILVERDALE, WA–(Marketwired – Oct 24, 2017) – CGrowth Capital, Inc. ( OTC PINK : CGRA ) (the “Company”) is pleased to announce that its wholly-owned subsidiary, Powder River Resources, Inc., has successfully drilled the Tolero 69-1 well to Total Depth in the oil and gas resource rich state of Wyoming. Based upon the favorable indications identified during the drilling, production casing was run and cemented into place. Well testing will take place in the coming weeks to determine production estimates. The Company kept stakeholders apprised of the drilling progress via their Facebook (https://www.facebook.com/CGrowthCapital) and Twitter (https://twitter.com/CGRAOTC) pages.
Bill Wright, CEO of CGrowth Capital, Inc., stated, “The entire crew is ecstatic about getting to Total Depth and being able to case in this well. It is amazing the number of pieces and people that must come together to complete these tasks. I cannot provide enough praise for both our internal team and the subcontractors for their perseverance and professionalism in completing this critical phase of the project.”
Mr. Wright continued, “We are starting to fire on all cylinders. This drilling exercise is just the beginning of our program, as we have identified a dozen additional drilling locations between this site and our West Salt Creek field in Natrona County. On the corporate side, we have been hard at work expanding our funding, which is leading to expansion of current programs, additional business opportunities, and increased corporate diversity. Strategically, all of these items are coming together as we drive closer to the completion of our 2-year audit which will position us for a market uplisting.”
The Company has not issued shares since 2015 — nearly 24 months — and remains committed to developing its business plan without the issuance of stock. The Company referenced the additional significant updates:
CGrowth Capital Bond, Ltd. — (financing)
The Company is in the process of renewing and increased its bond offering in the United Kingdom to £45,000,000 British Pound Sterling (including initial issue — approximately $60,000,000 USD) — releasing Bond Issue 3 Series 1v1 on November 9, 2017.
The Company anticipates its first Shariah compliant bond (known as a Sukuk) — established at the special request of our Malaysian and Asian networks and called the “Gold Sukuk” — to be approved prior to our November investor meetings in Malaysia.
The Company has now made available a 5-year, renewable, secured loan block, which is available direct through the United Kingdom, bringing to market a third investment option.
Over $25,000,000 in total assets.
Non-dilutive stock since 2015!
US Audit is at the “confirmations” stage, as we continue to supply backup information for various assets, liabilities, and revenues to the auditors.
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. Through wholly owned subsidiaries, the Company has begun to strategically leverage real estate assets for maximum value within newly developing industries currently underway in Washington State and across the United States.
For more information and updates about CGrowth Capital and its subsidiaries, visit their websites or Facebook pages:
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.