egX Group and EU business consortium sign agreement to develop new egX Marketplace for the Ireland and United Kingdom markets

    egX Group announces non-brokered Private Placement

    Trading Symbol:  GFG - TSX Venture

    VANCOUVER, June 18 /CNW/ - egX Group is pleased to announce that as part
of its global strategy to penetrate international markets and to establish egX
Marketplaces in other jurisdictions around the world, it has entered into an
agreement with a business consortium from the European Union to develop and
implement an egX Marketplace for the Ireland and United Kingdom (UK) markets
(the "Project"). egX Group will partner with the business consortium to
develop and establish the new marketplace and acquire a non-controlling
interest of the Project.
    The final corporate structure to proceed with the development and
implementation of the Project will be concluded following the completion of a
design study (the "Design Study"), scheduled to commence in July 2007.
    "We will begin the development phase of the Project by conducting a
Design Study to determine the commercial, functional, regulatory, and
technical requirements to establish an egX Marketplace in Ireland and the UK",
stated Leo Chamberland, president and CEO of egX Group. "The Design Study will
provide a roadmap for the formation of the venture and will enable the parties
to consider such important issues as local and international tax laws,
exchange regulations, listing opportunities, and the structure of the specific
securities to be listed. The local knowledge of the business consortium,
coupled with egX Group's expertise, background, and experience, will provide
the framework for the successful development and implementation of the Project
in a timely fashion." The success of the Project will be subject to obtaining
all necessary regulatory approvals to develop, implement, and operate the
marketplace as a recognized securities exchange.
    The new egX Marketplace, projected to begin operation in 2009, will be
developed and operate pursuant to an operating license agreement from egX
Markets, a wholly owned subsidiary of egX Group. The total cost of the
operating license agreement for Ireland and the UK is US $40 million (the
"Project Cost"). The Project Cost includes all costs related to the research,
the development and implementation of the egX Marketplace (hardware and
software), as well as the development of marketplace trading rules, issuer
policies, trading manuals, and all agreements required for the operation of
the marketplace.
    Operational costs of the egX Marketplace will be the responsibility of
the entity structured to manage and operate the new marketplace. The new egX
Marketplace will also be responsible to pay for certain operational fees to
egX Markets for ongoing services provided to the marketplace such as trading,
surveillance, the generation and distribution of market data, website hosting
and maintenance, as well as the provisioning of online management and issuer
filing systems.
    egX Group also announces that, as part of the agreement, and forming part
of the Project Cost, participants of the business consortium will make an
initial non-refundable payment to egX Markets in the amount of US $500,000 and
also plan to complete, subject to the approval of the TSX Venture Exchange, a
non-brokered private placement of up to 3,500,000 units of the Company at a
price of $0.45 (Cdn) per unit for total gross proceeds of $1,575,000 (Cdn).
Each unit consists of one common share of egX Group and one non-transferable
share purchase warrant entitling the holder to purchase one additional common
share of egX Group at a price of $0.75 (Cdn) per share for a period of
6 months from the date of closing.

    About egX Group

    egX Group is developing the egX, a global securities exchange system
designed for the listing and trading of real estate securities and related
financial products. The Company is preparing to launch its first marketplace
in Canada under egX Canada, a wholly owned subsidiary of egX Group. To achieve
global presence and to penetrate international markets under the egX brand,
egX Group is partnering with interested parties established in the key
international financial centers within Europe, the Middle-East, the Asia
Pacific region, and the Americas.

    On behalf of the Board of Directors

    "Leo Chamberland"

    Leo Chamberland, Director

    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein.

    %SEDAR: 00008146E

For further information:

For further information: visit us at, contact the
Company at (604) 681-7210, or review the most recent Annual Information Form
filed on SEDAR at We also invite you to read the Company's
latest business plan made available on the front page of our website.

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