Omega Commercial Finance Corp. entered into a purchase agreement to acquire 24% stake in Genève International Corporation from John F. Ryan and Daniel F. Fitzpatrick for $0.02 million.

Omega Commercial Finance Corp. (OTCPK:OCFN) entered into a purchase agreement to acquire 24% stake in Genève International Corporation from John F. Ryan and Daniel F. Fitzpatrick for $0.02 million in cash on March 14, 2014. If the transaction is terminated, then John F. Ryan and Daniel F. Fitzpatrick will return the cash paid by Omega Commercial.

The transaction is subject to Genève International filing a Form BD with the Financial Industries Regulatory Authority. The management of Genève International will be retained till the time Omega Commercial acquires the remaining 76% of Genève International. The first closing is expected to occur on March 18, 2014.

Nummi & Associates acted as Escrow agent in the transaction. John Bussaca acted as broker in the transaction and will be paid advisory fees of $10,000.