SOURCE: 1st Global Financial Corporation

February 26, 2009 08:45 ET

1st Global Financial Corporation Completes First Acquisition

LAS VEGAS, NV--(Marketwire - February 26, 2009) - 1st Global Financial Corporation (PINKSHEETS: FGBF) has announced today it acquired its first multi unit residential building located in Cleveland, Ohio. The ten units which still have to be rehabbed are expected to be occupied by mid year. This is part of the new business of acquiring real estate from failed institutions, rehabbing them and renting them out for resale at a later date.

The Company still has 6 pending transactions which were delayed due to reviews of the property inspection reports on the houses. The Goal is to do 10 transactions a month. Based upon the current business model the company is working with a seller that has the rehab contractors and property management teams already in place. As the Company expands it will locate its own rehab teams and property management firms.

1st Global's website and other corporate informational are being revised to reflect the changes. (www.1stglobalfinancialcorp.com)

This release includes "forward-looking statements" from the company that may or may not materialize, and recipients are cautioned not to place undue reliance on them. It is important to note that actual results could differ materially from those suggested in such "forward-looking statements" and that "forward-looking statements" are inherently subject to risks and uncertainties.

Contact Information

  • For more information about 1st Global Financial Corp. contact:

    E-Media Direct
    866-284-2835