Mr. Brian Kalish reports

GEMOSCAN CANADA, INC. ANNOUNCES ISSUANCE OF SHARES FOR DEBT

Gemoscan Canada Inc. has entered into two shares-for-debt arrangements totalling $8,260 with arm's-length parties, relating to outstanding trade payables. The corporation proposes to settle the debt through the issuance of 91,778 Class A shares of the corporation at a deemed price of nine cents, subject to the approval of the TSX Venture Exchange. The shares issued will be subject to a four-month-plus-one-day hold period from the date of issuance. These shares-for-debt settlements and subsequent issuance of the shares will not create a new control person.

We seek Safe Harbor.