Here's the latest PR from the "company." I'd be forewarned, there is a REMCO in Bulgaria, but there's been no evidence it's associated with FGFC.
First Guardian Financial Corporation Announces Joint Venture With European Union Company
NEW YORK, NY -- (MARKET WIRE) -- April 24, 2007 -- First Guardian Financial Corporation (PINKSHEETS: FGFC) announces a Joint Venture with REMCO EU, a European Union (EU) Company poised to benefit from Environmental Cleanup and Green Energy Opportunities in Bulgaria, which recently became a Full Member of the European Union (EU). The opportunities for this Bulgarian Company (BC), REMCO EU, a Subsidiary of REMCO B, are huge in the form of leverage from EU Grants for Bulgaria and USA EXIM Bank with an 85% Loan for USA Technology Environment Cleanup Plant making for Ecology (Eco) Friendly Environment with Green Energy by Products. The remaining 15% will be funded by a US Technology Company with its Financial Backers.
FGFC Joint Venture Agreement with REMCO EU, a Subsidiary of REMCO B, calls for Incubation Capital Funding in two stages to launch the BC with the Capital to finalize the Environment Clean up Contracts for Bulgaria and establish an EU Grant along with getting the USA EXIM Bank Loan to implement the Operating Plant in Bulgaria.
Stage 1 Incubation Capital calls for $300,000.00 to $335,000.00 in the next 2 to 6 weeks to get REMCO EU a signed Contract that is already in the process of finalization. REMCO EU has already expended time, effort and Fiscal Resources to bring Contract close to finalization.
Once the Contract is executed for Environmental Cleanup then Stage 2 of the Incubation Capital Funding calls for $600,000.00 to $700,000.00 over a 6 to 7 month period.
Total Incubation Funds over a one year period from FGFC/REMCO EU Launch date of May 1, 2007, which is the expected date of first installment of Incubation Capital of $300,000.00 to $335,000.00, and is expected not to exceed $1 Million Dollars.
All use of Incubation Capital Funds will be audited by an Internationally Recognized Accounting Firm. In exchange for the Incubation Capital by FGFC a Joint Venture Agreement has been negotiated with REMCO EU whereby FGFC will participate in Joint Ownership of REMCO EU by having Shares in the REMCO EU Company. FGFC Shares will grow as the Services provided to REMCO EU develop going forward, by bringing FGFC in the Capital Markets and other opportunities to develop Business for REMCO EU. FGFC and its Shareholders will enjoy a significant ROI on this Investment during the Incubation period Capital with Minimal Risks.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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CONTACT:
First Guardian Financial Corporation
Investor Relations
212-514-5555
1-212-363-6342
Fax: 212-658-9539 |
