egX Group Inc.
TSX VENTURE : GFG

egX Group Inc.

October 09, 2007 13:20 ET

egX Group Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2007) - egX Group (TSX VENTURE:GFG) is pleased to announce that it has closed 1,898,000 units of a non-brokered private placement of the Company at a price of $0.45 per unit for gross proceeds of $854,100. Each Unit is comprised of one common share and one non-transferable warrant. Each warrant entitles the warrant holder to acquire one additional common share, exercisable at a price of $0.75 per share for a period of 6 months from the date of closing.

The proceeds of the private placement will be used for the continuing deployment of egX Canada and ongoing operations. The common shares forming part of the units, as well as any common shares issued upon exercise of the warrants, are subject to a four month hold period, which will expire at midnight on February 1st, 2008.

About egX Group

egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate securities 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.

For additional information, visit us at www.egXWorld.com, contact the Company at 604-681-7210, or review the most recent Annual Information Form filed on SEDAR at www.sedar.com. We also invite you to read the Company's business plan made available on the front page of our website.

On behalf of the Board of Directors

Leo Chamberland, Director

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • egX Group Inc.
    Doug McFaul
    Chief Operating Officer
    (604) 681-7210
    Website: www.egXWorld.com