FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Capital Financial Global Completes Acquisition of Distressed Refinery Debt

March 18, 2014, 07:16 AM
Filed Under: Metals and Mining

Capital Financial Global, Inc. announced that it has successfully completed the acquisition of $5.1 million dollars of debt in Gold Rush Refiners, LLC, a distressed Georgia-based gold and precious metals refinery. The debt was acquired in exchange for $1.7 million dollars' worth of the company's Series B Preferred Stock.

"Now that we've acquired the debt, our plan is to re-age it and structure a work-out that will allow the refinery to cash flow and get back on its feet," said Paul Edward Norat, CEO of Capital Financial Global, Inc. "The folks at Gold Rush Refiners have a great business model and a talented team of professionals.  As we work with them to structure a realistic re-payment plan, we believe they will be able to bounce back and regain profitability and competitiveness.  The end goal, of course, is to receive the long-term incoming cash flow that the restructured loans will provide us, once they become performing."

Capital Financial Global, Inc. is a specialty finance company that offers asset-backed financing and loan advisory services to insurance trusts & pension funds, owners of commercial real estate, owners of residential real estate portfolios, and owners of mining & precious metals assets.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.