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

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

October 25, 2005 09:30 ET

Global 'GMPC' Holdings Inc. and E & E Capital Funding Inc. Execute a Memorandum of Understanding to Complete an Amalgamation and Announce Changes to the Boards of Directors

TORONTO, ONTARIO--(CCNMatthews - Oct. 25, 2005) - Global (GMPC) Holdings Inc. ("Global") (TSX VENTURE:GGH.SV.B) and E & E Capital Funding Inc. ("E & E") (TSX VENTURE:AEF) announce that they have signed a Memorandum of Understanding to complete an amalgamation. Global and E & E are both Toronto based merchant banks. A comprehensive joint information circular will be mailed to the shareholders of both companies with a scheduled mailing date of November 11, 2005. The Special Meetings of the Shareholders for each company will take place on December 9, 2005.

The Board of Directors of Global and E & E have each formed a Special Committee to review the terms and conditions of the amalgamation. The Special Committees have engaged an independent valuator to prepare a valuation of each company and to render a fairness opinion for the proposed amalgamation. Each Special Committee will provide their recommendations on the amalgamation to their respective Boards of Directors and to their shareholders. The share exchange ratio for the amalgamation will be based on the results of the independent valuation.

Pursuant to applicable securities laws, each of Global and E & E will require "majority of the minority" shareholder approval for the amalgamation, which will not permit certain specified shareholders of E & E and Global, such as insiders and other related parties, to vote at the shareholder meetings.

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.

Global also announces that effective immediately, Mr. Hubert Marleau and Dr. Michael Bloudoff have each resigned from its Board of Directors. Dr. Michael Bloudoff has been appointed to the Board of Directors of E & E. Mr. Hubert Marleau remains on the Board of Directors of E & E.

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.

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