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First Colombia Gold Set to Add Revenue Producing Properties to Its Portfolio

01.12.2015  |  Marketwired

NASHVILLE, TN--(Marketwired - Dec 1, 2015) - First Colombia Gold Corp. (OTC PINK: FCGD) announced today that the company, through its subsidiary Enterprise Partners, has signed a purchase and sale agreement to acquire four revenue producing properties in Georgia. These multi-use properties consist of two convenience stores, three restaurants, and two car wash locations that feature both self-serve and automated washes. With the purchase, which was signed on Monday November 30, 2015, First Colombia Gold through its subsidiary Enterprise Partners is acquiring the real estate and will allow the current business operators to continue to run their businesses as is. However, First Colombia Gold Corp. plans to sign a fuel supply agreement with the existing convenience stores as part of the renewed lease agreements. This will enable First Colombia Gold Corp. to supply approximately 150,000 gallons per month of fuel to the two convenience store locations.

Three of these properties included in the purchase and sale agreement are located in the desirable family oriented suburbs of Atlanta near I-85 and I-985. This area outside of Atlanta is home to million dollar homes, Stone Mountain and the resort areas of Lake Lanier. The fourth property is located outside of Saint Simons Island off of I-95.

Jason Castenir, CEO of First Colombia Gold, stated, "These convenience stores are just another step in the long-term strategy we have for First Colombia Gold. By incorporating fuel supply into the lease agreement, we are able to monumentally increase our revenue through this acquisition."

The property located in Brunswick, Georgia, includes a gas station and convenience store with a small shopping complex. Current tenants include two chain restaurant franchises and a locally owned restaurant.

The property located in Buford, Georgia, includes a gas station and convenience store, along with a locally owned dry cleaner and two currently vacant spots that include a Quick-Serve Restaurant (QSR) and an office space. The company plans to find a tenant for both locations, but is considering the QSR space as an additional location for its recently acquired Maryland Fried Chicken franchise, owned by its subsidiary, Triangle Restaurant Group.

Additionally, a multi-car, freestanding, self-serve car wash is also being acquired in Stone Mountain, Georgia.

"Over the last thirty days the company has made major strides towards our broader strategy and the long term goals for the company. We are moving forward with our PSA on the Eleven C-Stores in Alabama, we completed the acquisition of the Fuel Terminal in North Carolina, and now having the ability to utilize that fuel capacity to serve these to be acquired locations is a major step for our company," added Mr. Castenir, "We look forward to closing out 2015 on a positive note for our shareholders, and opening 2016 with success towards our vision of the future for our company."


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.


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