Frontera Announces Acquisition of Five Stores
March 18 2013 - 2:02PM
OTC Markets
Frontera Investment, Inc.,
(www.fronterainvestment.com)
(OTC: FRNV) today announced the acquisition of five new stores in
California in February and March 2013. Prior to Frontera's acquisition,
four of the stores operated under the name Check Max Plus, Inc. in
Santa Rosa, Citrus Heights and West Sacramento. The fifth store operated under
the name San Marcos Postal in San Marcos. All five stores acquired in
February and March 2013 are now operating under the Frontera brand
name and carry Frontera's full suite of product offerings. In
addition to the acquisition of five new locations, the Company
closed one non performing store in Mecca, California in early March
bringing the total number of stores owned and operated by Frontera
to seventeen (17).
Frontera CEO Gilbert Partida comments: "We are excited about the
acquisition of these five new locations. The acquisition in San
Marcos adds a key geographic location to complement our other
stores in the North San Diego market. The acquisition of the other
four stores in Northern California, coupled with our recent
acquisition in Sunnyvale, California provides Frontera with a
strong operating presence in the Northern California market similar
to our Southern California regions."
Forward-Looking
Statements:
Such forward-looking statements are
subject to a number of risks, assumptions and uncertainties that
could cause the company's actual results to differ materially from
those projected in such forward-looking statements. These risks, assumptions and
uncertainties include: the ability to complete expansion within
currently estimated time frames and budgets; the ability to compete
effectively in a rapidly evolving and price competitive
marketplace; ability to raise capital to support its growth
strategy; changes in business strategy; and the successful
integration of newly acquired
businesses.
About Frontera, Investment,
Inc:
Frontera (OTC:
FRNV) is an alternative services company utilizing advanced
technologies and operational systems to provide a growing array of
low cost, one-stop-shopping financial services to the “unbanked”
and “under-banked” consumer markets. The company offers competitive prices
on a wide range of financial products and services, including check
cashing, money transfers, and loans (payday, gold jewelry loans and
auto title loans).
Frontera’s
primary target market is
the Hispanic sector, which is currently estimated to be more than
40 million customers. Over half of these Hispanic consumers do not
use any form of banking service. Frontera’s immediate mission is to
be the first full-service Hispanic financial services
brand.
In addition,
approximately 35 percent of all households (and growing) in the
United States across the board are either un-banked, under-banked,
or regularly use alternative financial services. Frontera is a
prime, low-cost, high customer value option for consumers in these
markets.
Frontera now
operates 15 stores in California and 2 stores in
Florida.
Visit
www.fronterainvestment.com
to learn
more.
Investor and Media
Contact:
Allan C. Youngberg,
CFO
Frontera Investment,
Inc.
IR@fronterainvestment.com
858-549-7061
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