For further information about CGMW
and its products, please visit its website at www.
the President of CGMW
, is a share holder of Florida Home Builders along with other investors.
CGMW has already begun to deliver granite slabs to Tuscaloosa, Alabama, for the first phase of CBRI's expansion into the growing Birmingham market.
These sales developments represent an increase of 261 Lowes stores that are now and will be supplied by CGMW through its relationship with CBRI.
Upon approval and completion of the Qualifying Transaction, the Company will carry on through CGMW, as its wholly-owned subsidiary, the business of wholesale importation and distribution of raw slabs of granite, marble and other stone used in the construction industry, together with stone fabrication tools and supplies.
as consideration for CGMW will be held in escrow and released over a period of six years.
50 per share upon completion of the acquisition of CGMW as the Company's Qualifying Transaction.
This additional financing will be used to provide CGMW with working capital to expand its business and purchase further inventory of raw granite and marble slabs.
The Company has made certain advances to CGMW from the proceeds of the "sidecar" loans to assist CGMW with its working capital needs.
All advances by the Company to CGMW are secured by a registered charge on the assets of CGMW and the personal guarantee of Mr.
If the acquisition of CGMW as the Company's Qualifying Transaction does not complete, the "sidecar" lenders will be entitled to a pro-rata assignment from the Company of the security held by the Company over the assets of CGMW and the guarantee of Mr.