SALT LAKE CITY, UT / ACCESSWIRE / July 14, 2023 / Capital Financial Global, Inc. (OTC Pink:CFGX), a specialty finance company that offers asset-backed financing and loan advisory services, today announced plans to restructure its board of directors to meet the independence and oversight requirements of national exchanges like NASDAQ and NYSE.
"We are fully committed to the highest standards of corporate governance and believe that restructuring our board to meet the stringent requirements of major exchanges will further align our operations with these standards," said Paul Edward Norat, CEO of Capital Financial Global. "This is a major step forward in our evolution as a company and signals our intent to operate at the same level as the most respected organizations in our industry."
The planned changes are designed to bring Capital Financial Global's board into compliance with the independence standards set forth by national exchanges. These include ensuring a majority of the board is comprised of independent directors, establishing an audit committee consisting solely of independent directors, and putting in place a corporate governance committee and compensation committee, among others.
Details of the planned board upgrades, including the timeline and the profile of potential new board members, will be released soon. The company is dedicated to ensuring the transition is smooth and seamless, with minimal disruption to ongoing operations.
"Bringing our board into compliance with national exchange requirements is a key part of our growth strategy," Norat continued. "It underscores our commitment to transparency, accountability, and effective corporate governance, all of which are vital in today's rapidly evolving financial landscape."
Disclosures can be found on the Company's website and its online disclosure portal at:
https://www.capfiglobal.com/investors/newsroom/
https://www.otcmarkets.com/stock/CFGX/disclosure
About Capital Financial Global, Inc.
Capital Financial Global, Inc. (CFGX) is a specialty finance company that offers asset-backed financing and loan advisory services. Unlike traditional banking models, CFGX offers organizations needed liquidity by using an asset-backed approach rather than a traditional credit approach to originating new loans, buying and selling existing loans, and converting distressed collateral into cash or trade-able form.
Forward-looking statements:
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
For more information, please contact:
Capital Financial Global, Inc.
Investor Relations
Tel: +1-801-747-2000
Email: ir@capfiglobal.com
https://www.capfiglobal.com/
Twitter: @CFGX
Facebook: Capital Financial Global, Inc.
Linkedin: Capital Financial Global, Inc.
SOURCE: Capital Financial Global
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