egX Group Inc.
TSX VENTURE : GFG

egX Group Inc.

July 04, 2008 16:13 ET

egX Closes Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 4, 2008) - egX Group (TSX VENTURE:GFG) today announced that it has closed 8,799,982 units of a non-brokered private placement of the Company at a price of $0.15 per unit for gross proceeds of $1,319,997. Each unit consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.25 per share for a period of 12 months from the date of closing, subject to acceleration on the occurrence of certain events. The proceeds of the private placement will be used for the continuing deployment of egX Canada and ongoing operations.

The Company paid commissions of $104,020 and issued 711,466 compensation options on the private placement. Each option permits the holder to acquire one common share in the Company at a price of $0.15 per share for a period of 12 months from the date of closing. All securities issued in the private placement are subject to a hold period ending on October 30, 2008.

The Company also settled a total of $143,060.84 in debt through the issuance of 956,738 shares. These securities are subject to a hold period ending October 30, 2008.

About egX Group

egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate 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. Additional information, including the Company's business plan is made available at www.egXWorld.com.

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

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