Trading Symbol: GFG - TSX Venture
VANCOUVER, March 14 /CNW/ - Global Financial Group is pleased to report
that the British Columbia Securities Commission (BCSC) recognized egX Canada
as an exchange under section 24 of the Securities Act. The recognition order
will be posted for viewing on the BCSC website.
"This has been an amazing journey." said Leo Chamberland, President and
CEO of Global Financial Group. "We have worked long and hard to reach this
major milestone and I am grateful to have had the opportunity to work with
such a dedicated team of professionals. It is with great pride that we present
egX Canada, the world's first recognized marketplace for real estate
securities. I thank our shareholders and personnel who have stood by us
patiently and supported the Company through the years of development and hard
work to create the egX."
egX Canada will offer a regulated, transparent and liquid marketplace for
real estate securities and provide new investment opportunities in the real
estate market for retail and institutional investors alike. It will also
provide benefits for buyers/sellers and increase the accessibility to capital
As we deploy our trading systems, establish connectivity with various
dealer participants and initiate the listing process with potential issuers,
we will seek exemptive relief from the other securities regulatory authorities
in Canada to operate egX Canada as a national exchange. As egX establishes
market acceptance and growth, its systems and business model will be scaled
and expanded to other countries.
Although real estate represents the largest asset class in the world, it
currently only makes up about 2% of the market capitalization of existing
Canadian exchanges. Globally, the securities exchanges place little or no
emphasis on the real estate market.
Initially, egX Canada will provide a marketplace to trade individual
revenue producing properties converted to publicly traded assets in the form
of Real Property Investment Units (RPI Units). An RPI Unit consists of a share
combined with a segregated interest in a debenture registered over the assets
of the issuer held for the benefit of unit-holders. In addition, and subject
to regulatory approval, egX also intends to introduce investment products or
securities for "Mortgage Pool" and "Land Bank" issuers.
About Global Financial Group
Global Financial Group, through its wholly owned subsidiary egX Markets
Inc., is developing the egX, a global securities exchange system designed for
the listing and trading of real estate securities. The Company's goal is to
provide investors with a regulated, transparent and liquid marketplace for
real estate securities. The Company intends to launch its first marketplace in
Canada under egX Canada, a wholly owned subsidiary of GFG. Following the
launch of egX in Canada, GFG intends to develop its model internationally,
creating a global market for real estate securities.
On behalf of the Board of Directors
Leo Chamberland, Director
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: you may contact the Company at (604) 681-7210,
visit the website at www.investment.com, or review the most recent Annual
Information Form filed on SEDAR (www.sedar.com). We also invite you to read
the Company's business plan available on the front page of our website.