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[QUOTE]Originally posted by Andreas: [QB] Monarc Corporation (Monarc) Previously Esprit Financial Group (EFGO.PK - new ticker symbol pending) To Retain IFGX Division Jan 10, 2008 05:00:00 (ET) TORONTO, Jan 10, 2008 /PRNewswire-FirstCall via COMTEX/ -- Monarc Corporation announced today that it has successfully negotiated the rights to retain ownership of Esprit's IFGX division, which specializes in Mergers and Acquisitions (M&A). Incoming CEO Steen Elgaard advises; "This is an 11th hour development that is very exciting for us. In our discussions with Garr Winters, we became familiar with the IFGX division that he had set up under the EFGO umbrella. When we found out that the IFGX division owned two SB2 qualified shell companies Pristine 1, and Pristine 2, plus 2 eligible shells Harbour 1 and Harbour 2 our interest was piqued. As it happens, we have been approached by several companies from Denmark seeking to go public in the U.S. While this is not our core business, we didn't want to pass up such an ideal opportunity. The final piece of the puzzle came together when Mr. Winters brokered an agreement with the Mina Mar Group to quarterback these reverse merger opportunities as needed". Incoming CEO Steen Elgaard, originally from Denmark, has previously worked in the mergers and acquisitions sector, most particularly with K. Kapital Group Inc. His reputation and extensive network of contacts provided the impetus for these M&A opportunities. Elgaard added; "Garr had put together an excellent asset in the IFGX division, with significant business opportunities. We are in his debt for putting this package together on our behalf in a manner that provides benefits to all parties involved. Furthermore, we were very impressed with his concept of providing existing EFGO shareholders with a special stock dividend in the new Pink Sheet Company acquiring Esprit's assets. In my experience I see this as one of the most innovative ways to provide shareholders with added value for their long term loyalty. This very unique model the new management may adopt, and our plans are to offer Monarc shareholders special stock dividends in the IFGX owned shells as they are spun off in the future. My commitment is to endeavor to continue enhancing shareholder value any way we can." About Monarc Corporation Monarc Corporation (formerly Esprit Financial Group Inc). is a public company engaged in a diversified number of online financial services. These include: the Payday Loan Software division; Forex Trading; Advanced Electronic Funds Management; and Specialized Investment Banking and Financial Advisory Services. It recently acquired Good Life Group Limited in a reverse merger. It's assets are currently in the process of being vended in to a separate Pink Sheet Company that will meet Pink Sheet 'Pink Checkmark' disclosure requirements. Canden Financial Group Inc. is a full service leasing company specializing in simple and fast equipment leasing and financing solutions for both vendors and end users. It is in the process of being vended in to Monarc Corporation on a reverse merger basis. Safe Harbor Statement Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Esprit Financial Group's products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Esprit Financial Group's periodic reports filed with the regulatory authorities. SOURCE Esprit Financial Group [/QB][/QUOTE]
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