2007-07-03 16:08 ET - Miscellaneous

The TSX Venture Exchange has consented to the reduction in the exercise price of the following warrants.

Private placement, Warrants:  1.53 million

Expiry date of warrants:  Dec. 4, 2007

Forced exercise provision:  If the closing price for the company's shares is 31 cents or greater for a period of 10 consecutive trading days, then the warrantholders will have 30 days to exercise their warrants; otherwise the warrants will expire on the 31st day.

Original exercise price of warrants:  75 cents

New exercise price of warrants:  25 cents

These warrants were issued pursuant to a private placement of 1.53 million shares with 1.53 million non-transferable share purchase warrants attached, which was accepted for filing by the exchange effective Dec. 1, 2005.