VANCOUVER, BC / ACCESSWIRE / December 18, 2014 / First Growth Holdings Ltd. ("First Growth" or the "Company") (TSX-V: FGH). Further to the news release announced this morning on the acquisition of the Royal Liquor Merchant store located on 4th St. S.W. in Calgary, it was stated that the purchase represents a near doubling of revenue for Canada. For further clarification, First Growth's annual revenue as per its year end audited financial statements dated June 30th, 2014 was approximately $1.85 million. The annual revenue of the Royal Liquor Merchant as per their unaudited financial statements dated October 31st, 2014 was approximately $1.78 million.
About First Growth
First Growth is a Canadian-based company that identifies and develops strong brands in the Canadian and international markets. Strong brands have a global reach in today's modern world with the rapid adoption of social media and advancements in technology. First Growth recognizes the potential for certain brands to penetrate international markets and will be focused on developing each one of its brands to its fullest potential.
ON BEHALF OF FIRST GROWTH HOLDINGS LTD.:
"J. Paul Guedes"
J. Paul Guedes
President
FOR MORE INFORMATION, PLEASE CONTACT:
Corporate Communications
Tel: 604.688.9588
Email: [email protected]
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Forward Looking Statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events such as: (a) completion of the proposed transactions; (b) the entry into and the closing of the Definitive Agreement; and (c) the establishment of the joint venture. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the willingness of the parties to close the transactions, the approval of the transactions by the respective company boards, shareholders (if applicable) and regulatory authorities, satisfactory results of the due diligence investigations and current economic conditions. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Due to conditions precedent to closing, and the risk that these conditions precedent will not be satisfied, the Company can offer no assurance that it will complete the proposed transactions enter into the Definitive Agreement. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE: First Growth Holdings Ltd.