SILVERDALE, WA--(Marketwired - Apr 17, 2017) - CGrowth Capital, Inc. (OTC PINK: CGRA) (the "Company") is pleased to report the filing of the Company's 2016 consolidated annual financials for the period ended December 31, 2016 to OTC Markets. The Company's consolidated Total Assets increased three-fold over the prior year to nearly $25,000,000. The Company has not issued shares for the 17th consecutive month, as the Company remains committed to developing its business plan without the issuance of stock. The Company and its wholly owned subsidiary's highlights are as follows:
CGrowth Capital Bond, Ltd. - (financing)
- The Company renewed and increased its bond offering in the United Kingdom to £30,000,000 British Pound Sterling -- releasing Bond Issue 2 Series 1v1 on November 9, 2016.
- The subsidiary has issued in excess of £15,000,000 GBP subscriptions to date.
- The Company is pleased to announce the opening of an affiliated office in Malaysia this month, which will support the Company's efforts with the bond offering and other business affairs.
- Subscriptions for the bonds remain strong and are expected to continue through 2017.
Powder River Resources, Inc. - (Oil and gas)
- Initial infrastructure improvements have been completed.
- Well workover programs started and will continue as winter weather breaks into spring.
- Production and wellsite facility upgrades continue.
- Extensive mapping and data collection on new drilling locations and reserve indications.
- New drilling has commenced with first new well projected to be completed at the end of the 2nd quarter.
- Revenues and reserves projected to blossom in 2017.
Chewelah Properties, LLC - (commercial real estate)
- Significant rental revenues now online with a base of $32,000 per month plus NNN charges.
- Non-performing tenants have been removed, allowing for performing tenant to assume another 12,000 sq.ft. at same rate structure as existing.
- Strong interest in the site from both wholesale and retail tenants shows promise for stellar rental growth in 2017.
- Base rent expected to triple in 2017 as renovated space comes online.
- Nearly $25,000,000 in total assets.
- Non-dilutive stock for entire 2016 fiscal year.
- United Kingdom audits have been completed. These will be posted as a supplemental to the Company financials once released in the UK.
- Completed UK audits now pave the way for Company to complete US audits in preparation for additional corporate developments and uplisting.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as an alternative asset management company for businesses and assets focused on all aspects of mining, minerals, exploration, and commercial real estate. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and dolomite to market. CGrowth Capital will focus on acquiring land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations. Through wholly owned subsidiaries, the Company has begun to strategically leverage real estate assets for maximum value within newly developing industries currently underway in Washington State and across the United States.
For more information and updates about CGrowth Capital and its subsidiaries, visit their websites or Facebook pages:
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.