Mr. Doug McCollam reports

ARISE TECHNOLOGIES CLOSES BRIDGE LOAN

ARISE Technologies Corp. closed a $1.75-million (U.S.) bridge loan on Oct. 29, 2010, from Haverstock Master Fund Ltd. and Trenrasp LLC. The purpose of the loan is to provide working capital bridge financing to the company. The loan matures on March 31, 2011, but is required to be repaid earlier in the event that ARISE completes a public equity offering in excess of $5-million or a sale of any assets for proceeds in excess of $4-million.

Interest on the loan is payable quarterly and accrues initially at a rate of 10 per cent per year which rate increases by 1 per cent per month that the loan remains outstanding up to a rate of 14 per cent per year. No share purchase warrants were issued in connection with the loan. The loan is secured with a general security agreement on the assets of the company. In the event that the company does not repay the loan by March 31, 2011, the lenders have the option to convert the loan into ARISE common shares at up to a 20-per-cent discount to the proceeding five-day volume-weighted average price of the common shares on the Toronto Stock Exchange.