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Frontera Investment
Announces Lease for New In-Store Branch
San Diego, CA Aug 2, 2008 – Frontera Investment, Inc. (OTC:FRNV)
announced today that it has entered into a lease agreement with
Mecca Travel Center for a new in-store branch in a new Super AMPM/ARCO
convenience store located in Mecca, California (about 10 miles east
of Frontera's Coachella branch). Subject to permitting, the branch
should open within 90 days. Frontera is analyzing other AMPM
locations and plans to transfer and/or relocate the technology and
equipment it has in its two remaining manned kiosks to AMPM sites.
Frontera has also received all permits
needed to assume operations of its newly acquired Oxnard location
and will begin running the business on September 1st. Frontera is
awaiting permits for its Dinuba location, but has confirmed that all
Frontera services are permitted on the site. That branch will open
within 60 days.
Upon opening the new stores in Dinuba
and Mecca, California, Frontera will have 9 stores in operation,
including 2 manned kiosk.
The Hispanic market is currently estimated at 40 million consumers,
half are un-banked. About 35 percent of the total US households are
un-banked or use alternative financial services companies.
Forward-Looking Statements
Such forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
forward-looking statements. These risks, assumptions and
uncertainties include: the ability to complete expansion within
currently estimated time frames and budgets; the ability to compete
effectively in a rapidly evolving and price competitive marketplace;
changes in business strategy; the successful integration of newly
acquired businesses; and other risks referenced from time to time in
the Company's filings with the Securities and Exchange Commission.
Please forward any inquiries to:
Allan Youngberg, CFO
Frontera Investment, Inc.
Phone: (858) 549-7061
Fax: (858) 549-7195
ir@fronterainvestment.com |
