Global (GMPC) Holdings Inc.
TSX VENTURE : GGH.SV.B

Global (GMPC) Holdings Inc.
E & E Capital Funding Inc.
TSX VENTURE : AEF

November 16, 2005 09:30 ET

Global 'GMPC' Holdings Inc. and E & E Capital Funding Inc. Amalgamation Update

TORONTO, ONTARIO--(CCNMatthews - Nov. 16, 2005) - Global (GMPC) Holdings Inc. ("Global") (TSX VENTURE:GGH.SV.B) and E & E Capital Funding Inc. ("E & E") (TSX VENTURE:AEF) announced on October 25, 2005 that they had signed a Memorandum of Understanding to complete an amalgamation.

Subject to shareholder approval, which will be requested at shareholder meetings on December 9th, 2005, Global and E & E will amalgamate and continue as one corporation under the name "GC Global Capital Corp.", herein referred to as Amalco. E & E Shareholders, other than Global, will receive Amalco Shares on the basis of 1.0 Amalco subordinate voting share for each E & E common share. Global's subordinate voting shareholders will receive 0.3 Amalco subordinate voting shares for each Global subordinate voting share and Global multiple voting shareholders will receive 0.3 Amalco multiple voting shares for each Global multiple voting share. The share exchange ratio, supported by the opinion of an independent valuator, was based on the estimated fair value of each subordinate voting and multiple voting share for Global and common share for E & E. Global and E & E's estimated fair value September 30, 2005 were at $0.353 and $1.170 respectively.

Global and E & E are both Toronto based merchant banks. A comprehensive joint information circular, including the valuation report, will be mailed to the shareholders of both companies and will be posted on SEDAR. The Special Meetings of the Shareholders for each company will take place on December 9, 2005.

The amalgamated company will continue to operate as a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. The amalgamated company will also have an investment arm.

About Global

Global is a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

About E & E

E & E is a merchant bank which provides bridge loan services to and invests in emerging growth companies.

Forward-Looking Information

These materials include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Other than statement of historical fact, all statements in this material, including, without limitation, statements regarding fair values of marketable securities, investments, bridge loans, convertible debentures, estimated asset retirement obligations, and future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of these materials. Important factors that could cause actual results to differ materially from the Company's expectations include, without limitation, the level of bridge loans completed, the nature and credit quality of the collateral security, the sufficiency of cost estimates for remaining reclamation obligations as well as those factors discussed in the Company's documents filed from time to time with the TSX Venture Exchange, Canadian securities regulators and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

Contact Information

  • Global (GMPC) Holdings Inc.
    Jason G. Ewart
    (416) 488-7760
    www.globalbridgeloans.com
    or
    E & E Capital Funding Inc.
    Chris Carmichael
    (416) 488-7760