Mr. Osvaldo Iadarola reports

The Canadian Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 22, 2000.

No. of shares: 610,000 shares

Price: 50 cents per share

Warrants: 610,000 non-transferable share purchase warrants to purchase 610,000 shares

Exercise price: 60 cents for a one-year period and 70 cents in the second year

Placees: 17 placees participated