New York, NY (PressExposure) August 02, 2011 -- Charles Vista LLC proudly announces the closing of a $1.2 million private placement for American Retail Group ("ARG", the "Company"). The proceeds of the transaction will be used to finance expenses related to a subsequent public offering projected to close in the first quarter of 2011.
John Leo, Chairman of Primary Capital, stated, "We are pleased with the results, and we look forward to working with Charles Vista again in the future. We will continue to position ARG for its future listing on a US stock exchange."
American Retail Group, Inc., through its wholly owned subsidiary SM Market, specializes in the development of supermarkets in the Republic of Kazakhstan. In 2009 SM Market acquired the GROS supermarket chain, and in 2010 American Retail Group, a Nevada corp., acquired SM Market through a share exchange agreement.
SM Market employs 2,800 people, and operates 35 modern grocery stores in Kazakhstan, where open air markets and kiosks are still common. They penetrate all areas of the market by providing three types of shopping experiences which include hypermarkets, discount stores, and smaller corner stores. The pre audited financials indicate 2009 revenue of $211 million, as well as a strong balance sheet.
"It was a pleasure working with John Leo, and the rest of the Primary Capital team," says Charles Vista Founder, Gregg Lorenzo"We are excited to be closing this transaction. American Retail Group is a great corporation, and we are glad we could assist them in growing their business."
About Charles Vista, LLC
Charles Vista LLC a member of the FINRA/SIPC is an independent broker dealer and investment banking firm headquartered at 100 William Street, in the center of New York City's financial district. The firm offers a wide array of investment options to best serve its high net worth and institutional clients. Charles Vista places emphasis on providing both private and public companies access to capital through their retail clients, as well as catering to each client's specific investment needs and objectives.