(December 12 – 11:20 ET) – SE Global Equities Co. Ltd., a subsidiary of Capital Alliance Group Inc., and Future Technologies Inc. have signed a letter of intent outlining a merger between the two companies.

Future Technologies 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.

Toby Chu, SEG’s president and CEO, 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.” The merger is anticipated to take place during first quarter 2001.

Immediately following the merger with Future Technologies, 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, or 84% of the issued and outstanding capital stock of the new company.

SEG enables investors to trade stocks online through its 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.

The 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.
-IE Staff