SCOTTSDALE, Ariz., Feb. 17, 2010 (GLOBE NEWSWIRE) -- EGPI Firecreek, Inc. (OTCBB:EFIR) announced today the engagement of a boutique Wall Street investment banking firm, in order to facilitate the raising of 6 million in acquisition financing and 1.5 million in accounts receivable financing.
The 125 yr. old Wall Street Firm has 6 institutional and 20 retail offices serving institutional and high-net-worth retail clients. The firm's brokerage expertise has been successfully extended to include the retail sector. Through aggressively broadening their investment banking capabilities they offer a full range of corporate finance capital raising, advisory, and valuation services.
Over many decades, this firm has added services selectively, with an eye not simply on their own growth but, more importantly, to the needs of their clients. Throughout the last 125 years, they have remained true to their founding concept: facilitate the raising and accumulation of capital to enable clients to transform their business goals into reality.
Dennis Alexander, Chairman and CEO, stated, "We are very pleased to announce our newfound investment banking relationship. Like many companies showing exponential growth, our need for capital infusion, in order to spur our acquisitions already in place, is essential to the implementation and success of our business plan. We feel fortunate to have a firm with an extensive pedigree representing us and are confident in their abilities to meet and exceed our investment objectives.
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the DOT Construction and Intelligent Traffic System markets alongside its wholly owned subsidiary M3 Lighting, Inc. (M3), and South Atlantic Traffic Corporation (SATCO), and on oil and gas production with an emphasis on acquiring existing fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its wholly owned subsidiary Energy Producers, Inc. (Energy Producers). EGPI Firecreek, Inc. is also looking to expand into Alternative energy sources as well as industries in the energy field. Other companies in the oil sector include Exxon Mobil, Pantina Oil and Gas Inc., Frontier Oil Inc. and Cabot Oil & Gas Inc.
The EGPI Firecreek, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6259
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EGPI Firecreek Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek, Inc.'s filings with the Securities and Exchange Commission.