The TSX Venture Exchange has accepted for filing the company's proposal to issue 781,250 shares at a deemed price of 32 cents per share and 781,250 share purchase warrants to settle outstanding debt for $250,000.

Number of creditors:  two creditors

Non-arm's-length party:  $150,000, 468,750 shares at 32 cents (one party)

Warrants:  781,250 share purchase warrants to purchase 781,250 shares

Warrant exercise price:  50 cents for a three-year period

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