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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX) -- Ignore unavailable to you. Want to Upgrade?

To: John Powell who wrote (374)	5/9/2000 9:34:00 PM
From: keith massey	Read Replies (1) \| Respond to of 960

Capital Alliance Group Inc. US$7.5 Million Pre-IPO Placement Closed CDNX Symbol: CPT VANCOUVER, May 9 /CNW/ - Further to its news release of April 3, 2000, Capital Alliance Group Inc. (the ``Company'') reports that it has closed off the Pre-IPO private placement of its wholly owned subsidiary, SE Global Equities Company Limited (``SEG'') following receipt of subscriptions for US$7.5 million (approximately CAD$10.88 million). The Company further reports that it has received additional `Expression of Interest' letters from other institutional investment groups from both Europe and Asia. These groups have expressed an interest in making an investment in SEG at both the Pre-IPO and IPO levels. Further updates relating to these 'Expressions of Interest' will be provided in due course. Given the recent market conditions, the Company is encouraged with the result of this placement. This support together with the positive reception SEG has received from the global investment community has prompted SEG to proceed with its initial public offering in Hong Kong. The Company's consolidated cash balance as of May 9th, 2000, is approximately CAD$15 million. On Behalf of the Board of Directors of CAPITAL ALLIANCE GROUP INC. ``Toby Chu'' ------------ Toby Chu President and C.E.O.