Omega Commercial Finance Corp. (OTCPK:OCFN) acquired 17% stake in VFG Securities, Inc. for $0.13 million on January 11, 2013. Omega has acquired an initial 17% stake in VFG Securities and has a contractual option to take full control upon final approval by FINRA and upon facilitating the remaining cash and stock consideration for 100% control. As consideration, Omega will pay $0.65 million in cash along with 1 million shares of its common stock, of which $0.13 million will be paid on the acquisition of the initial 17% stake that is the first closing. Under the terms of the agreement, Omega will pay the remaining $0.53 million and 1 million shares of Omega common stock, as consideration for the acquisition of the remaining 83% stake in VFG Securities, on an earn out basis, that is, if VFG Securities has a trailing 12 month gross production of $3.3 million. Else, the consideration will be paid on a pro rated amount considering $3.5 million as the total consideration for VFG Securities.

As a part of the transaction, Jason Vanclef, Founder and President of VFG, will remain onboard as the Executive Director of Development and Investment Sales. Post acquisition, Omega will integrate VFG Securities' broker dealer and capital markets operations to act as a catalyst for growth in OCFN's lending operations. Andrew J. Barwicki of Barwicki Investor Relations Inc. acted as investor relation advisor. Nummi & Associates P.A. acted as escrow agent in the transaction.

Omega Commercial Finance Corp. (OTCPK:OCFN)completed the acquisition of VFG Securities, Inc. on January 11, 2013.