News Releases

500,000-share private placement


The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 20, 2005.

No. of shares: 500,000

Price: 70 cents per share

Warrants: For 500,000 shares

Warrant price: 85 cents for a two-year period

Placees: Four placees participated

Finder's fee: Advice Capital Management AG will receive a finder's fee of 33,000 units with the same terms as the offering.