SE Global to Close Share Exchange with Future Technologies Inc.
VANCOUVER, Feb. 12 /CNW/ - Further to its news release of December 12,
2000, Capital Alliance Group Inc. is pleased to report that the share exchange
between the shareholders of its subsidiary, SE Global Equities Inc. ("SEG")
and Future Technologies Inc. (NASD OTC.BB symbol "FTUT") is scheduled to close
on February 15, 2001.
FTUT currently has 1.5 million shares issued and outstanding, of which
1.15 million are restricted shares. As part of the terms of the share
exchange, Capital Alliance Group Inc. will receive 12.07 million shares of
FTUT issued from treasury. FTUT will also issue an additional 800,000 shares
from treasury to other pre-IPO shareholders of SEG. Immediately following the
share exchange, there will be a total of 14.374 million issued and outstanding
FTUT shares, 84 percent of which will be held by Capital Alliance Group Inc.
Upon completion of this transaction, SEG will become a subsidiary of
FTUT, which will hold all of the assets of SEG. These include cash and assets
totaling approximately $4.5 million. Immediately following the closing,
Capital Alliance Group Inc. will appoint six directors to the Board of FTUT.
Approximately 30 days following the closing, FTUT will be renamed SE
Global Equities Corp. and will be issued a new trading symbol by NASD.
Mr. Toby Chu, SEG's President and CEO states, "This transaction with
Future Technologies is a significant milestone in our efforts to maximize
shareholder value. We feel that this new public market for SEG shares will
allow us to significantly increase our visibility within the U.S. investment
community and enable us to more effectively capitalize on opportunities."
On Behalf of the Board of Directors
of CAPITAL ALLIANCE GROUP INC.
"Toby Chu"
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Toby Chu
President and C.E.O |
