Crown Financial Group, Inc. (the "Company," Pink Sheets: CFGI.PK) today announced that it has formed a new public holding company named Crown Financial Holdings, Inc., a New Jersey corporation. The Company is now a wholly owned subsidiary of Crown Financial Holdings. The holding company organizational structure has been effected pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), by and among the Company, Crown Holdings, and CFGI Merger Sub, Inc., a New Jersey corporation and a wholly-owned subsidiary of Crown Holdings ("Merger Sub"). The Merger Agreement ...

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