Trading Symbol: GFG - TSX Venture
VANCOUVER, March 13 /CNW/ - Global Financial Group Inc. ("GFG") is
pleased to announce that it has closed 5,030,084 units of a non-brokered
private placement of the Company at a price of $0.45 per unit for gross
proceeds of $2,263,538.05. Each Unit is comprised of one common share and one
non-transferable warrant. Each warrant entitles the warrant holder to acquire
one additional common share, exercisable at a price of $0.70 per share on or
before March 9, 2008, subject to acceleration on the occurrence of certain
The proceeds of the private placement will be used for general working
capital. The common shares forming part of the units, as well as any common
shares issued upon exercise of the warrants, are subject to a hold period,
which will expire at midnight on July 9, 2007. The Company paid $80,108.31 as
finder's fees on the private placement.
Trading of the Company's shares on the TSX Venture Exchange will remain
halted pending further news.
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.
For additional 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.
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: www.investment.com, tel: (604) 681-7210, toll
free: 1-800-351-5488 (Canada & US), fax: (604) 681-7213