The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 8, 2011:

Number of shares:  695,000 shares

Purchase price:  22 cents per share

Warrants:  347,500 share purchase warrants to purchase 347,500 shares

Warrant exercise price:  40 cents for an 18-month period

Hidden placees:  six placees

Finder's fee:  55,600 finder's units payable to General Research GmbH

Each unit consists of one common share and one-half common share purchase warrant.

Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if it is less than the maximum permitted term.

For further details, please refer to the company's news release dated April 8, 2011.