The TSX Venture Exchange has accepted for filing the company's proposal to issue 3,335,000 shares and 3,335,000 share purchase warrants to settle outstanding debt for $667,000.

Number of creditors:  one creditor

Total non-arm's-length party involvement:  $667,000, 3,335,000 shares at 20 cents (one party)

Warrants:  3,335,000 share purchase warrants to purchase 3,335,000 shares

Warrant exercise price:  40 cents for a two-year period

The company shall issue a news release when the shares are issued and the debt extinguished.