VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2008) - egX Group (TSX VENTURE:
GFG -
News) announced today that egX Canada plans to commence operations as an exchange in October 2008. The launch of egX Canada is subject to regulatory approval and the Company securing adequate capital for the operation of the new marketplace.
As the demand for transparency and disclosure in the real estate industry continues to increase, egX Canada is entering the market to provide the investment community with a well regulated, transparent, and liquid marketplace for the listing and trading of real estate securities and related financial products.
"egX Canada is unique - it is the world's first recognized marketplace for real estate securities," said Leo Chamberland, President and CEO of egX Group. "We are very excited about the launch of egX Canada. It represents the culmination of years of development and the hard work from an outstanding team of dedicated professionals."
New innovative financial products continue to make their way into the market. Real estate is the world's largest asset class and represents over 50% of the overall global financial wealth. egX Canada is the first marketplace of a series of proposed exchanges to be deployed around the world to create a global marketplace for real estate securities. Initially, egX Canada will provide listing and trading services for the following sectors:
- Revenue Producing Properties
- Land Banks
- Mortgage Pools / Mortgage Funds
- Infrastructure Projects
About egX Group
egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate 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 in Europe, the Middle East, the Asia-Pacific region, and the Americas. Additional information, including the Company's business plan is made available at www.egXWorld.com.
Caution regarding forward-looking information
Certain statements in this news release may constitute "forward-looking information". We have used words such as "will" or "plans to" to identify forward-looking information. This forward-looking information is based on current expectations and projections about the industry in which we operate, as well as certain assumptions made by our management, as at the date of this news release. Actual results may vary from the forward-looking information. Factors that could cause actual results to differ materially from those contemplated by this forward-looking information include general market and economic conditions, reliability of information systems, government regulation and changes in legislation. Many of these factors are beyond our control. egX Group Inc. discusses these factors in greater detail in filings with the Canadian provincial securities commissions.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
