Frontera In Discussions with STX Border Finance Partners in Connection With Pending Acquisition of Texas Money Exchange
DALLAS, TEXAS,
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February 03, 2023 03:21 PM Eastern Standard Time
McapMediaWire -- Frontera Group, Inc. (OTC: FRTG) (“Frontera,” “Frontera Group” or “the Company”), a technology-focused strategic acquirer of revenue-generating companies and intellectual property (IP), today announced it has entered into financing discussions with Rio Grande Valley-based STX Border Finance Partners (“STX”).
As previously reported, Frontera recently signed a term sheet to acquire 24.9% of the total issued and outstanding shares of common stock of McAllen, Texas-based Texas G & S Investments, Inc. d/b/a Texas Money Exchange (“TME”)(www.texasgsinv.com) from a joint venture controlled by members of the Solis family of McAllen, Texas. The term sheet also provides an option for Frontera to acquire the remaining 75.1% of TME over time.
Frontera stated the discussions with STX Border Finance Partners relates to exploring various financing opportunities that exist related to the TME acquisition and its expansion plans from Brownsville to San Diego. In addition, STX is considering making an investment in FRTG’s current SEC approved $9 million stock offering. Luis Manuel Gonzalez & Associates, a prominent Mexican attorney and private equity investor is in a strategic alliance with STX relating to its Frontera financing discussions and Mexican affairs.
About STX Border Finance Partners
STX Border Finance Partners is a private equity and venture capital firm in the Rio Grande Valley associated with the McAllen, Texas-based Solis family.
About Texas Money Exchange
TME is believed to be the largest foreign exchange and international payment specialist in the Texas Rio Grande Valley (RGV). In business over 27 years, TME is an emerging Fintech and critical cog in the supply chain between the United States and Mexico. On behalf of its customers TME conducts business foreign exchange USD-MXN (Dollars/Pesos), business payments USD-MXN, payment of vendors in Mexico, receiver of payments from Mexico and makes authorized freight voucher payments. TME customers include importers and exporters of a wide range of products such as Americans use and consume on a daily basis.
About Frontera
Frontera Group is a strategic acquirer of intellectual property and revenue-generating companies in the technology and human capital markets. It is developing and executing an aggressive, four-tier acquisition and implementation strategy intended to provide substantial increases in profitability to its acquisitions in industries with traditionally low and stagnant EBITDA multiples. The Company has identified and is currently pursuing several revenue-generating acquisition targets. For further information, please visit Frontera’s website at www.frtgtech.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe FRTG’s hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond FRTG’s control, will affect actual results. FRTG undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with FRTG’s most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by FRTG.
Frontera Group Contact
K. Bryce Toussaint, Board Director
Investor Relations Contact
Lindsey Harasta
Contact Details
Frontera Group
Lindsey Harasta
K. Bryce Toussaint, Board Director
