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SE Global Equities - Press Releases
Symbol: SEGB December-12-2000
 

SE Global Seeks U.S. Listing Through Merger with Future Technologies Inc.

SE Global Equities Company Limited ("SEG"), a subsidiary of Capital Alliance Group Inc., and Future Technologies Inc. (FTUT) have signed a letter of intent outlining a merger between the two companies. FTUT is a fully reporting company in the United States and is listed on the NASD OTC Bulletin Board. SEG will not be proceeding with the proposed merger with Comet Technologies Inc. announced on September 27, 2000.

Toby Chu, SEG's President and Chief Executive Officer, states: "This merger with Future Technologies will allow us to maintain our schedule for entering the U.S. equities market with terms consistent with enhancing shareholder value." This merger is anticipated to take place during first quarter 2001.

Immediately following the merger with FTUT, the total issued and outstanding shares of the new company will be approximately 14.37 million shares. Capital Alliance Group Inc. will hold approximately 12.07 million shares, 84 per cent of the issued and outstanding capital stock of this new company. Participants of previous SEG offerings and existing FTUT shareholders will hold the balance of the shares. A defined portion of these shares will be escrowed and released according to a time-based formula.

SEG is a premier financial Internet centre, which enables investors to trade stocks online through SEG's global network of alliance brokers, 24 hours a day, at discounted rates on stock exchanges around the globe. SEG's goal is to build a network of over 100 reputable brokerage firms, which will provide investors with direct access to over 50 of the world's established and emerging stock exchanges.

This merger is subject to a due diligence review by both parties, the negotiation and execution of definitive agreements, and, if necessary, the approval of SEG's and FTUT's boards of directors and shareholders, as well as the approval of the applicable Canadian and U.S. regulatory agencies.

On Behalf of the Board of Directors of SE Global Equities Corp.

Toby Chu

President & Chief Executive Officer
International Head Office: 1.604.871.9909 extension 308
Asian Head Office: 852.2169.3019 extension 28

 

 

   

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