SOURCE: FastFunds Financial Corp.
WEST PALM BEACH, FL--(Marketwire - Oct 1, 2012) - FastFunds Financial Corporation (OTCQB: FFFC) (the "Company") reported today on its progress for various business development activities.
Natural Resource and Alternative Energy Division
In conjunction with its strategic partner, Corizona Mining Partners and its affiliates, the Company has identified and is presently completing due diligence on several gold mining projects in Peru. The focus is on properties in areas of known mineralization with sufficient supporting historical data. These properties have both alluvial and hardrock potential that can possibly be producing within relatively short time frames. The Company expects to complete satisfactory negotiations on its first project within the next 30 days.
Consumer Products Division
With the recent addition of a seasoned sporting goods executive to its staff, the Company is developing plans to enter the multi-billion dollar U.S. markets in both the health and fitness and bicycle markets. The Company is presently in various stages of due diligence on several opportunities and expects to complete negotiations on one or more transactions in the near future.
Financial Statement Restructuring
During the past months, the company has devoted substantial time in restructuring its balance sheet, with a goal of significantly reducing its liabilities with a minimum of shareholder dilution, thereby enhancing shareholder value. These activities are near fruition and will be announced when completed.
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities or otherwise offer growth opportunities for our stockholders.
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.