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Mr. Osvaldo Iadarola reports
The Company announces that it has closed a private placement of a total of 190,000 Units to six investors at a price of $0.20, to raise a total of $38,000. 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 one year an at exercise price of $0.25.
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 October 4, 2001 except as permitted by the BC Securities Act and Regulations thereunder.
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