I guess they've picked a better partner...
CAPITAL ALLIANCE GROUP INC. ("CPT-V") FUTURE TECHNOLOGIES INC ("FTUT-L") - SE Global Seeks U.S. Listing
Through Merger with Future Technologies
Toby Chu, President and C.E.O. of Capital Alliance Group Inc. announces:
SE Global Equities Company Limited ("SEG"), a subsidiary of Capital Alliance Group inc., and Future Technologies Inc. (FTUT) have
signed a letter of intent outlining a merger between the two companies. FTUT is a fully reporting company in the United States and Is
listed on the NASD OTC Bulletin Board. SEG will not be proceeding with the proposed merger with Comet Technologies Inc.
announced on September 27, 2000.
Toby Chu, SEG's President and Chief Executive Officer, states: "This merger with Future Technologies will allow us to maintain our
schedule for entering the U.S. equities market with terms consistent with enhancing shareholder value." This merger is anticipated to take
place during first quarter 2001.
Immediately following the merger with FTUT, the total issued and outstanding shares of the new company will be approximately 14.37
million shares. Capital Alliance Group Inc. will hold approximately 12.07 million shares, 84 per cent of the issued and outstanding capital
stock of this new company. Participants of previous SEG offerings and existing FTUT shareholders will hold the balance of the shares. A
defined portion of these shares will be escrowed and released according to a time-based formula.
SEG is a premier financial Internet centre, which enables investors to trade stocks online through SEG's global network of alliance
brokers, 24 hours a day, at discounted rates on stock exchanges around the globe. SEG's goal is to build a network of over 100
reputable brokerage firms, which will provide investors with direct access to over 50 of the world's established and emerging stock
exchanges.
This merger is subject to a due diligence review by both parties, the negotiation and execution of definitive agreements, and, if necessary,
the approval of SEG's and FTUT's boards of directors and shareholders, as well as the approval of the applicable Canadian and U.S.
regulatory agencies. TEL: (604) 871.9909
Capital Alliance Group Inc. FAX: (604) 871.9919 E-mail: info@cag-global.com Internet: www.cag-global.com |
