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Mr. Osvaldo Iadarola reports
The private placement seen in Stockwatch March 10, 2000, consisting of 400,000 units to 10 investors at a price of 25 cents, to raise a total of $100,000, has received the approval of the Canadian Venture Exchange and will be closing imminently. Each unit includes one common share and one detachable non-transferable share purchase warrant entitling the purchaser to purchase an additional share in the capital of the company over a term of 18 months. The exercise price is 60 cents during the initial nine-month period and 80 cents during the second nine-month period.
Shares acquired by placees, and shares which may be acquired upon the exercise of the share purchase warrants, are subject to a hold period and may not be traded in British Columbia until March 10, 2001, except as permitted by the B.C. securities and regulations thereunder.
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