CDNX Symbol:
CPT
Nov. 28, 2000
News Release
Capital Alliance Group Signs Formal Contract for Purchase of
Controlling Interest
in Irix Design Group Inc.
and
Launches New Websites for SE Global Equities Inc. and Capital
Alliance Group
visit us at: www.cag-global.com & www.seglobal.com
Capital Alliance Group Inc. (“CAG”) is pleased to announce it has
signed the formal
contract regarding the purchase of 51 per cent of the issued and
outstanding common
shares of Irix Design Group Inc. (“IRIX”) in consideration of $250,000,
including $150,000
cash and 76,923 common shares of CAG at a deemed price of $1.20.
The preliminary
closing of the transaction is scheduled for Friday, December 1st, 2000.
The final closing
will be held once CAG’s auditor has completed a satisfactory review of
IRIX’s financial
statements.
IRIX is a profitable, full-service multimedia and advertising agency
headquartered in
Vancouver BC. The company also has a representative office in San
Francisco and has
recently expanded its operations with the establishment of a branch
office in Hong Kong.
IRIX, with its digital expertise, offers a tremendous fit and creates a
synergy with CAG
and its subsidiaries. Although IRIX has demonstrated an impressive
growth rate on its
own, management of CAG and its subsidiaries are confident that they
can leverage the
company’s growing network of global partners, existing infrastructure,
and worldwide
distribution network to further accelerate IRIX’s growth.
For the 12 months ending September 30th, 2000, IRIX reports a
combined revenue from
the Canadian, U.S. and Hong Kong offices of approximately $1.82
million as compared to
$0.58 million for the same period of last year.
SE Global Equities Inc. (“SEG”), a subsidiary of Capital Alliance Group
Inc., is pleased
to announce that after an extensive effort by teams in both Canada and
Hong Kong, it
has completed the next phase of development of its back-end
infrastructure for its trading
platform. SEG members now have the capability to open accounts and
conduct equities
trades with select members of SEG’s expanding network of Global
brokerage firms. In
addition, SEG’s website www.seglobal.com also provides members
with the capability to
view profiles of foreign stock exchanges as well as profiles of the
brokerage firms who are
participating in SEG’s network.
To become a leading financial centre for investors, SEG has integrated
both news and
data feed services from Reuters – a leading global financial news
information provider.
According to Toby Chu, President & C.E.O. of SEG, “We are very
excited about our
achievements to date and the innovative content and service offerings
we will be offering
to our members in the near future.”
SEG's goal is to build a network of over 100 reputable brokerage firms
which will provide
investors with direct access to companies trading on over 50 of the
world's established
and emerging stock exchanges. With the back-end infrastructure now
firmly in place,
SEG management is confident that they will now be able to accelerate
progress towards
this goal and allow investors to trade online 24 hours a day at
discounted rates around
the globe.
Capital Alliance Group is also pleased to announce the launch of a new
version of its
corporate website at www.cag-global.com.
On Behalf of the Board of Directors
of CAPITAL ALLIANCE GROUP INC.
Toby Chu
President and C.E.O |
