TORONTO, Jan. 9 /PRNewswire-FirstCall/ -- Esprit Financial Group Inc. (EFGO.PK) http://www.espritfinancialgroup.com/ DBA Good Life China http://www.goodlifechina.com/ announced today that its corporate name has been changed to MonArc Corporation. It is anticipated that MonArc will receive a new CUSIP number and new ticker symbol within the next several business days, or as soon as this process can be completed by the governing bodies.
The next major step forward will see the sale of current Esprit assets, including those of Good Life China, vended in to an inactive Pink Sheet Shell Company which will qualify for Pink Checkmark status (meeting all current disclosure requirements as defined by the Pink Sheets, LLC.) In addition, EFGO will issue a special stock dividend of shares, in this newly created Goodlife company to the current EFGO shareholders on record.
Outgoing Esprit CEO Garr Winters advised; "It has been agreed that the 2 companies will issue a joint press release upon the closing of this transaction. We are making very good progress working through this series of related transactions. Obviously, there are a lot of filings and securities related work being done, given the ambitious nature of this undertaking. Our understanding is that all of the paperwork is in place, and the transactions can proceed forward with the Pink Sheets, transfer agents, State agencies, regulators and other requisite parties".
Shortly thereafter, MonArc Corporation will complete the acquisition of the Canden Financial Group (http://www.candenfinancial.com/)
About Esprit Financial Group Inc.
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.
About Good Life Group Limited.
Good Life Group Limited operates a rapidly growing chain of franchised convenience stores based in Hebei Province, China. It employs advanced retail concepts such as e-commerce enabled POS/back office systems, and achieves significant economies of scale on the supply side of the business. It will be expanding geographically to neighboring Provinces, as well as offering a growing number of additional products and services, such as financial products, as it moves forward.
About Canden Financial Group
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.
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.
