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TORONTO, Jan 29, 2008 /PRNewswire-FirstCall via COMTEX/ -- MonArc Corporation announced today that it has fixed the date of record for the special stock dividend in Good Life China stock at the close of trading (closing bell) Friday, February 1st, 2008.
With the pending close of the sale of MonArc assets to the League Publishing, Inc. (TLGP), the company has been advised that a new ticker symbol for TLGP is also anticipated in February.
As previously disclosed, MonArc is also in the process of completing a reverse split of 1 share of MonArc being issued for every 1,000 shares of EFGO held. As an extra deterrent to short selling, all of the shares of EFGO will be cancelled, and new certificates issued on proof of beneficial ownership of EFGO shares prior to the new MonArc shares being issued.
All MonArc Corporation shareholders on the date of record (post-reverse split) will be entitled to receive the special dividend from TLGP (under its new ticker symbol).
As an example, a shareholder with 1 million shares of EFGO as at the closing bell on Friday, February 1st, will receive the following;
- 1,000 shares of MonArc Corporati! on - 1,000 shares of TLGP (under the new corporate name and ticker symbol).
Outgoing MonArc CEO Garr Winters noted; "Given the recent trading range of both stocks, we feel that our shareholders will receive a significant increase in the value of their shareholdings. We believe these transactions will finally allow the stocks to reflect a reasonable market capitalization that reflect current and anticipated financial performance and growth of the Good Life China and Esprit Financial Group assets being acquired by TLGP".
As previously noted on the Town Hall site, the Company expects to receive its new ticker symbol on February 8th, and should start to be quoted under the new symbol on the week of Monday, February 11th.
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. Its assets are currently in the process of selling its assets (with the exception of the IFGX division) to The League Publishing, Inc. (TLGP).
MonArc is also in the process of executing a reverse merger with Canden Financial Group Inc. Canden 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.
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MonArc Corporation (MonArc) (EFGO.PK - new ticker symbol pending) Announces New Corporate Officers
Monday February 4, 6:00 am ET
TORONTO, Feb. 4 /PRNewswire-FirstCall/ - MonArc Corporation (previously Esprit Financial Group) announced today that Steen Elgaard has been appointed Company President, while Carol Robichaud assumes the role of Company Treasurer. ADVERTISEMENT
Mr. Elgaard is one of the founders of Canden Financial Group, while Carol Robichaud is President of KCR Image Consulting, a Canadian communications and image consulting firm in Mississauga, Ontario. She has delivered over 1,500 seminars and in-house programs to corporations, associations and individuals.
These appointments have been made in anticipation of the planned reverse merger of Canden Financial with MonArc Corporation.
Mr. Garr Winters, outgoing CEO of Esprit, has continued his involvement with the Company in the role of Secretary, upon completion of his contract with MonArc at the end of last year. Mr. Winters played a pivotal role in diversifying Esprit Financial Group (EFGO), as well as bringing EFGO subsidiary Good Life China to the OTC market in the U.S. He has also been instrumental in orchestrating a special dividend in TLGP stock to MonArc shareholders as part of the sale of MonArc assets to TLGP.
Mr. Elgaard advised: "We are very pleased to have Garr Winters stay on and provide the benefit of his years of business experience and entrepreneurial flare. One of the things that attracted us to MonArc in the first place, was the fact that he took a weak company in a shrinking market, and transformed it into a diversified financial group with tremendous growth potential in the short span of one year."
In other Company news, the Company advises that it expects to receive its new ticker symbol within the next few days, based on input from its Transfer Agent, Heritage Trust.
About MonArc Corporation
MonArc (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. Its assets are currently in the process of being vended into a separate Pink Sheet Company, with the exception of the IFGX division, which retains a number of public shell companies with which it is anticipated to complete up to two reverse mergers within the next 24 months.
About Canden Financial Group Inc.
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 into MonArc Corporation on a reverse merger basis.
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