AR Growth Finance has agreed to purchase the asset of Southern Trust Securities. Specifically, ARGW will issue three shares of ARGW common stock for each share of STS common stock.
STS’s Robert Escobio commented, the company continues to execute on opportunities that are being presented to STS. We believe the asset purchase agreement will have a positive impact on shareholders and the company as a whole. The asset purchase, coupled the firm’s recent announcement pertaining to the Branch Agreement with Global Strategic Investments LLC’s, pending regulatory review, positions STS for growth in the future.
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Frank Dunbar, President of ARGW, stated, we have taken the first steps towards growing our business. Of course, much regulatory work remains to be completed.
Orlando Medellin, Chief Executive Officer of GSI, commented, we are pleased with the asset purchase of STS by ARGW. Once all the proper regulatory reviews are completed, we believe this opens the road for greater and closer cooperation between GSI and STS.
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