DALLAS, TX--(Marketwire - Dec 19, 2012) - Fima Inc. (PINKSHEETS: FIMA), in furtherance of its Press Release dated Oct 10th, 2012, is pleased to report that it has signed a Definitive Purchase Agreement to acquire American Eagle Operating LLC of Dallas, TX ("American Eagle") for a purchase price of 3.5 million dollars ($3,500,000). The purchase price will be satisfied in an all stock transaction. The purchase price reflects the underlying cash flow derived from oil leases that American Eagle owns, and the price is supported by an independent reserve report dated September 24th, 2012 prepared by Nova Resource Inc. American Eagle will become a wholly owned subsidiary of Fima Inc. at closing, which is expected the week of December 17th, 2012.
Fima and American Eagle are in further discussions to acquire the remaining interests in the leases not presently owned by American Eagle.
Fima has additional interests in mining and real estate, and the company is contemplating a course of action on these assets which may include a divestiture.
Fima is also developing a plan to develop the oil assets further by commencement of a drilling program designed to substantially increase existing production.
This news release contains forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.