LOS ANGELES, May 01, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Full Alliance Group, Inc. (OTC PINK:FAGI) (“Full Alliance Group” or the “Company”), a holding company, is pleased to announce that it has entered into a contract to acquire GBE Grupo Empresarial de Tamaulipas SAPI de CV (“GBE”), a Mexico-based, nationally licensed hard money lender.
FAGI's interest in the acquisition of GBE comes from the fact GBE holds a “Mexican Federal banking license”. This active license can allow GBE to provide funding to individuals or businesses. With a potential client list including many small to large-size companies seeking funding alternatives, in an environment where traditional banks in Mexico can typically charge interest rates up to 60%, this acquisition can be very lucrative for Full Alliance Group and its shareholders.
The acquisition of GBE with their currently held and active, “Federal Banking License” will not only provide funding for Full Alliance Group and its subsidiaries to further accelerate their growth through expansion and new business developments, but it allows the opportunity for brick and mortar banking branches to be opened throughout Latin America.
The Full Alliance Group's board of directors believes this can position GBE to grow significantly within the Mexican financial services and FinTech market, take advantage of potentially lucrative projects by leveraging international opportunities in Mexico, and benefit from synergies with other Full Alliance Group companies.
(FinTech is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. The use of smartphones for mobile banking, investing services and cryptocurrency are examples of “Fintech")
This acquisition is subject to customary conditions such as satisfactory completion of due diligence and regulatory approvals.
Full Alliance Group anticipates making several further announcements regarding the GBE acquisition as the due diligence process moves forward.
Sincerely,
Jacob Thomas
Chairman / CEO
Contact: InvestorRelations@FullAlliance.com
About Full Alliance Group Inc.
Full Alliance Group Inc. (OTC PINK:FAGI) is a multi-faceted holding company with varied interests in banking and point-of-sale (POS) technology, financial services, real estate, nutraceuticals and computer software development. Full Alliance Group provides investment capital, modern business practices, and best-in-class management to assist growing companies to reach their greatest potential.
FORWARD-LOOKING STATEMENTS
This shareholder update may contain a number of forward-looking statements. Words and variations of words such as: "expect", "goals", "could", "plans", "believe", "continue", "may", "will" and similar expressions are intended to identify our forward-looking statements, including but not limited to: our expectation to complete the contemplated acquisition of GBE, our expectation for growth, benefits from brand-building, cost savings and margins. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in our forward-looking statements. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all margins.
These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in our forward-looking statements. Such factors include, but are not limited to: continued volatility of, and sharp increase in: costs/pricing actions, increased competition, risks from operating internationally, consumer weakness, weakness in economic conditions and tax law changes.