Global Financial Group is pleased to report that the British Columbia Securities Commission (BCSC) recognized egX Canada as an exchange under section 24 of the Securities Act. The recognition order will be posted for viewing on the BCSC Web site.

“This has been an amazing journey.” said Leo Chamberland, president and CEO of Global Financial Group, in a news release. “We have worked long and hard to reach this major milestone and I am grateful to have had the opportunity to work with such a dedicated team of professionals. It is with great pride that we present egX Canada, the world’s first recognized marketplace for real estate securities. I thank our shareholders and personnel who have stood by us patiently and supported the company through the years of development and hard work to create the egX.”

egX Canada will offer a regulated, transparent and liquid marketplace for real estate securities and provide new investment opportunities in the real estate market for retail and institutional investors alike. It will also provide benefits for buyers/sellers and increase the accessibility to capital market participants.

Global Fiancial Group will seek exemptive relief from the other securities regulatory authorities in Canada to operate egX Canada as a national exchange. As egX establishes market acceptance and growth, its systems and business model will be scaled and expanded to other countries.

Although real estate represents the largest asset class in the world, it currently only makes up about 2% of the market capitalization of existing Canadian exchanges. Globally, the securities exchanges place little or no emphasis on the real estate market.

Initially, egX Canada will provide a marketplace to trade individual revenue producing properties converted to publicly traded assets in the form of Real Property Investment Units (RPI Units). An RPI Unit consists of a share combined with a segregated interest in a debenture registered over the assets of the issuer held for the benefit of unit-holders. In addition, and subject to regulatory approval, egX also intends to introduce investment products or securities for “Mortgage Pool” and “Land Bank” issuers.