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http://ih.advfn.com/p.php?pid=forexarticle&cb=1174930127&article=19958434

Title : Esprit Financial Group Inc. (Esprit) (CHNW.PK) Identifies Candidate OTCBB Company for Merger or Acquisition
Date : 26/03/2007
Time : 08:03
Source : PR Newswire
Esprit Financial Group Inc. (Esprit) (CHNW.PK) Identifies Candidate OTCBB Company for Merger or Acquisition

Las Vegas, NV, March 26 /PRNewswire-FirstCall/ -- Esprit Financial Group Inc. (ESPRIT) (formerly Cash Now Corporation) (DBA Cash Now) (CHNW.PK) http://www.cashnow.com/ is a public company engaged in the operation and licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market. Additionally, the Company is in the late developmental stage of offering an innovative low cost online Introductory Broker (IB) Forex trading system, and has recently acquired leading edge electronic funds transfer (EFT) products that include domestic and international prepaid debit and Visa/MasterCard branded cards, as well as on online EFT capabilities under the EM2 brand name.

As previously announced on March 19th, 2007, the Company has retained a financial consultancy to identify opportunities to move up to the OTCBB. Today, Esprit is pleased to announce that a suitable company has been identified. This is an existing operating OTCBB company that is currently trading and is current on all of its filings. Moreover it has certain assets that may benefit Esprit in its business activities moving forward. Esprit will be conducting a due diligence process over the next few weeks prior to making a formal offer, which is planned to be on an all-cash basis.

The OTC Bulletin Board is a regulated quotation service in the United States, owned by the NASD, for stocks which are not listed on one of the major U.S. stock exchanges. It displays real-time quotes, last-sale prices and volume information in over-the-counter (OTC) equity securities. The OTC Bulletin board is home only to fully reporting companies. This factor ensures that the OTCBB a much safer place to trade for small investors in small and micro-cap companies.

Garr Winters, Esprit CEO explains: "As previously mentioned, the key objectives are to maximize shareholder value, and work in a more regulated environment in order to limit stock manipulation by short-sellers. As a fully reporting Company, there will be less room for distortion and speculation regarding corporate activities."

Winters added: "We feel the timing is right to move up to the OTCBB. We are building a very sound foundation for Internet delivered financial services and related activities. Our new operating divisions demonstrate exciting potential growth opportunities. We need to be able to scale up operations quickly, as these new and potentially very significant revenue streams come online in the near term."

About Esprit Financial Group Inc.

Esprit Financial Group Inc, (formerly Cash Now Corporation) is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. The company's proven business model includes licensing to corporately operated locations across the U.S. and Canada, as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike.

The Company is currently in the process of expanding its product portfolio by bringing a retail Forex trading platform to market, targeted to seasoned day traders. The Beta test site has now been launched, with a full-service roll-out to follow once the platform has been successfully tested.

Additionally, the Company's e-wallet product, named EM2 (Electronic Money Management) continues to be developed. This stored value card allows customers to transfer cash value without having to issue checks. Employers can use it to pay employees (of great benefit for hourly workers who may not have a bank account); in multi-level marketing organizations, as well as facilitating electronic fund transfers.

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.

DATASOURCE: Esprit Financial Group Inc.


CONTACT: Esprit Financial Group Inc., Tel: [phone],