The TSX Venture Exchange has accepted for filing the company's proposal to issue a total of 2,443,750 bonus shares in consideration of a $1.15-million secured debenture. The term of the debenture is 24 months with interest payable at a rate of 12 per cent per year.

A finder's fee of $46,000 cash and 460,000 warrants is payable to Bloom Burton Securities Inc. Each warrant is exercisable into one common share at 10 cents for two years from closing.