TSX Venture Exchange Daily Bulletins



    VANCOUVER, Oct. 20 /CNW/ -

    
    TSX VENTURE COMPANIES

    BULLETIN TYPE: Notice to Issuers
    BULLETIN DATE: October 20, 2008
    Re: Restated Deal Structure and Founder Shares Guidelines

    Background

    The TSX Venture Exchange (the "Exchange"), in a bulletin published on
December 11, 2007, set out capital structure guidelines for non-CPC issuers
having issued, prior to listing, securities to principals or third parties for
nominal consideration (the "Deal Structure and Founder Shares Guidelines").
The Exchange may vary these guidelines from time to time, at the election of
the Exchange, in response to general market conditions. Founder Shares
Guidelines which are varied will be restated with amendments underlined for
issuer ease of reference. This bulletin is the first restated and amended Deal
Structure and Founder Shares Guidelines and supersedes those guidelines
published on December 11, 2007. The purpose of the amendments in these
restated and amended guidelines is to reduce the threshold of an acceptable
financing from $10 million to $5 million and to clarify further what is
considered by the Exchange to be an acceptable supporting valuation.

    Amendments to Policy

    Effective Date

    The principles underlying the guidelines set out in this bulletin will be
contained in an amended Exchange Policy 2.1 which the Exchange expects to
issue in its next revision. The information set out in this bulletin should be
used as additional guidance by market participants in determining whether the
capital structure of an issuer will be acceptable to the Exchange. The
concepts set out in this bulletin will be applied by the Exchange to new
listing submissions (including listing submissions involving IPOs, RTOs or
QTs) effective from the date of this bulletin. Exchange staff will continue to
work with market participants to ensure their deal structures are acceptable
and encourage issuers to pre-file their submissions accordingly. The contents
of this bulletin do not otherwise affect any existing listing requirements
contained in Exchange policies.

    General Concept

    The Exchange will not object to certain transactions where the amount of
"Founder Shares", as defined below, equals, or falls below, a determined
threshold.

    Founder Shares

    Founder Shares means any security issued, or proposed to be issued, to:

    (i)   any person for less than $0.05 per security;

    (ii)  a party related to the issuer for the purchase of an asset which
          cannot be acceptably valued under sections 4.2(a), (b), (c), (d),
          (e), (f), (g) or (i) of Exchange Policy 5.4;

    (iii) a principal to settle a debt or obligation for less than the last
          price per security which the security was issued for or at a price
          per security which the Exchange does not consider reasonable given
          the circumstances; or

    (iv)  a principal for the primary purpose of increasing that principal's
          interest in the issuer without a corresponding tangible benefit to
          the issuer.

    The Exchange will consider the number of Founder Shares in the aggregate
in determining whether a transaction structure is acceptable under this
bulletin and the amended policy. In addition, the final determination on
whether a person is or is not a principal or a party related to the issuer
will be that of the Exchange, using its discretion and based upon the
particular facts of the submission and the resulting interest of a security
holder in the issuer after giving effect to the transaction. In exercising its
discretion, the Exchange may deem certain securities, which have been or are
proposed to be issued, and which may not technically be captured under the
"Founder Shares" definition noted above, to be, nonetheless, Founder Shares.

    Allowable Transactions

    The Exchange will not object to:

    (i)  a transaction which otherwise satisfies applicable existing listing
         requirements and under which the issuer has issued, or proposes to
         issue, Founder Shares, which, cumulatively (and with Founder Shares
         being calculated on a fully diluted basis), represent, or would
         represent no more than 15% of the issuers' issued and outstanding
         securities at the time of listing; or

    (ii) a transaction which otherwise satisfies applicable listing
         requirements and under which an issuer has issued, or proposes to
         issue, Founder Shares which, cumulatively (and with Founder Shares
         being calculated on a fully diluted basis), represent, or would
         represent, in excess 15% of the issuer's issued and outstanding
         securities at the time of listing, provided the issuer also
         completes an acceptable financing concurrent with the listing.

    The Exchange will consider an acceptable financing to be any equity
financing which:

    (A) raises gross proceeds of no less than $5,000,000, of which no less
        than 75% has been subscribed for by arm's length parties; or

    (B) results in the issuance of no less than 50% of the issued and
        outstanding securities of issuer at the time of listing, of which no
        less than 75% has been subscribed for by arm's length parties.

    Application

    As noted above, guidance under this bulletin, and the provisions of the
amended policy, will apply to all new listing submissions effective today.
However, in the case of industrial, technology or research & development
issuers, the Exchange may be more flexible in its application of the Founder
Shares definition. For these issuers, the Exchange may dispense with the
requirement of an acceptable supporting valuation or otherwise apply
flexibility in its interpretation of these guidelines if the person or persons
to whom those securities have been issued has or have clearly contributed a
tangible benefit to the issuer over time. The Exchange encourages all issuers
to meet with Exchange staff prior to making a listing submission if they have
further questions regarding their capital structure.

    If you have questions about these changes, please contact:

    In British Columbia: Andrew Hancharyk, Phone: 604-602-6982,
    Fax: 604-844-7502
    In Alberta: Peter Varsanyi, Phone: 403-218-2860, Fax: 403-234-4211
    In Ontario: Tim Babcock, Phone: 416-365-2202, Fax: 416-365-2224
    In Québec: Sylvain Martel, Phone: 514-788-2411, Fax: 514-788-2421

    TYPE DE BULLETIN : Avis aux émetteurs
    DATE DU BULLETIN : Le 20 octobre 2008
    Objet : Version modifiée des lignes directrices sur la structure
    d'opération et les actions de fondateur

    Contexte

    Dans un bulletin publié le 11 décembre 2007, la Bourse de croissance TSX
(la "Bourse") présentait des lignes directrices sur la structure du capital à
l'intention des émetteurs, autres que les SCD, ayant émis avant leur
inscription des titres à des principaux intéressés ou à des tiers pour une
contrepartie symbolique. La Bourse peut modifier ces lignes directrices à son
gré pour tenir compte de la conjoncture du marché. La version modifiée des
lignes directrices sur les actions de fondateur sera publiée avec les
modifications soulignées pour en faciliter la consultation par les émetteurs.
Le présent bulletin constitue la première version modifiée des lignes
directrices sur la structure d'opération et les actions de fondateur et
remplace les lignes directrices du 11 décembre 2007. Les modifications visent
à faire passer le seuil d'un financement acceptable de 10 millions de dollars
à 5 millions de dollars, et à clarifier ce que la Bourse considère comme une
attribution de valeur acceptable.

    Modification de la politique

    Date d'effet

    Les principes sur lesquels reposent les lignes directrices qui sont
énoncées dans le présent bulletin seront intégrés dans la Politique 2.1
modifiée que la Bourse prévoit publier au moment de la prochaine mise à jour.
L'information contenue dans le présent bulletin servira d'indications
supplémentaires aux participants du marché qui doivent déterminer si la
structure du capital d'un émetteur sera jugée acceptable par la Bourse. La
Bourse appliquera les principes dont il est question ici aux demandes de
nouvelles inscriptions (y compris celles qui sont présentées dans le cadre
d'un premier appel public à l'épargne, d'une prise de contrôle inversée ou
d'une opération admissible) présentées à partir de la date du présent
bulletin. Le personnel de la Bourse continuera de travailler avec les
participants du marché pour veiller à ce que la structure de leur opération
soit acceptable et incitera les émetteurs à déposer au préalable leur demande.
Le contenu du présent bulletin ne modifie aucune des autres exigences
d'inscription que contiennent les politiques en vigueur de la Bourse.

    Principe général

    La Bourse ne s'opposera pas à certaines opérations si le nombre d'"actions
de fondateur", au sens attribué à ce terme ci-après, est égal ou inférieur à
un seuil déterminé.

    Actions de fondateur

    Les actions de fondateur s'entendent de tout titre émis ou dont on
projette l'émission à l'une des personnes suivantes :

    (i)   toute personne, à un prix inférieur à 0,05 $ l'action;

    (ii)  une personne reliée, dans le cadre de l'achat d'un actif auquel on
          ne peut attribuer une valeur de façon acceptable conformément aux
          alinéas 4.2a), b), c), d), e), f), g) ou i) de la Politique 5.4 de
          la Bourse;

    (iii) un principal intéressé, en règlement d'une dette ou d'une
          obligation, à un prix inférieur au dernier prix auquel le titre a
          été émis ou à un prix que la Bourse considère comme déraisonnable
          dans les circonstances;

    (iv)  un principal intéressé, en vue principalement d'augmenter la
          participation de ce dernier dans l'émetteur, sans que l'émetteur en
          tire concrètement un avantage réciproque.

    La Bourse tiendra compte du nombre global d'actions de fondateur pour
déterminer si la structure d'une opération est acceptable aux termes du
présent bulletin et de la politique modifiée. De plus, la Bourse décidera en
définitive si une personne est ou non un principal intéressé ou une personne
reliée, en usant de son pouvoir discrétionnaire et en se fondant sur les faits
de la demande et sur la participation que la personne aura dans l'émetteur
après l'opération. Dans l'exercice de son pouvoir discrétionnaire, la Bourse
pourra néanmoins considérer comme des actions de fondateur certains titres
émis ou dont on projette l'émission qui ne sont pas en principe compris dans
la définition d'"actions de fondateur" donnée ci-dessus.

    Opérations permises

    La Bourse ne s'opposera pas aux opérations suivantes :

    (i)  l'opération qui répond par ailleurs aux exigences d'inscription en
         vigueur applicables et dans le cadre de laquelle l'émetteur a émis
         ou projette d'émettre des actions de fondateur qui représentent ou
         représenteraient dans l'ensemble (le nombre d'actions de fondateur
         étant calculé après dilution) au plus 15 % de ses titres émis et en
         circulation au moment de l'inscription;

    (ii) l'opération qui répond par ailleurs aux exigences d'inscription
         applicables et dans le cadre de laquelle l'émetteur a émis ou
         projette d'émettre des actions de fondateur qui représentent ou
         représenteraient dans l'ensemble (le nombre d'actions de fondateur
         étant calculé après dilution) plus de 15 % de ses titres émis et en
         circulation au moment de l'inscription, à condition que l'émetteur
         réalise également un financement acceptable simultanément à
         l'inscription.

    La Bourse considérera comme acceptable tout financement par actions qui
répond à l'un des critères suivants :

    A)  le produit brut réuni s'élève à au moins 5 000 000 $, et 75 % au
        moins des titres émis ont été souscrits par des personnes sans lien
        de dépendance;

    B)  le nombre de titre émis équivaut à 50 % au moins des titres émis et
        en circulation de l'émetteur au moment de l'inscription, et 75 % au
        moins des titres émis ont été souscrits par des personnes sans lien
        de dépendance.

    Application

    Les indications données dans le présent bulletin et les dispositions de la
politique modifiée s'appliqueront à toutes les demandes de nouvelles
inscriptions présentées à partir de la date du présent bulletin. Cependant, en
ce qui concerne les émetteurs des secteurs de l'industrie, de la technologie
et de la recherche et du développement, la Bourse pourrait se montrer plus
souple dans l'application de la définition des actions de fondateur. Elle
pourrait dispenser ces émetteurs de l'obligation de fournir une attribution de
valeur acceptable ou par ailleurs assouplir son interprétation des lignes
directrices si la ou les personnes à qui les titres ont été émis ont
clairement apporté un avantage concret à l'émetteur au fil du temps. La Bourse
demande à tous les émetteurs qui ont d'autres questions au sujet de leur
structure du capital de rencontrer son personnel avant de déposer une demande
d'inscription.

    Si vous avez des questions au sujet de ces modifications, veuillez
communiquer avec l'une des personnes suivantes :

    En Colombie-Britannique : Andrew Hancharyk, tél. : 604-602-698,
    téléc. : 604-844-7502;
    En Alberta : Peter Varsanyi, tél. : 403-218-2860, téléc. : 403-234-4211;
    En Ontario : Tim Babcock, tél. : 416-365-2202, téléc. : 416-365-2224;
    Au Québec : Sylvain Martel, tél. : 514-788-2411, téléc. : 514-788-2421.

    TSX-X
                       --------------------------------

    AMADOR GOLD CORP. ("AGX")
    BULLETIN TYPE: Private Placement-Non-Brokered
    BULLETIN DATE: October 20, 2008
    TSX Venture Tier 2 Company

    TSX Venture Exchange has accepted for filing documentation with respect to
the first tranche of a Non-Brokered Private Placement announced September 9,
2008 and October 7, 2008:

    Number of Shares:        13,357,500 flow-through shares
                             2,063,050 non flow-through

    Purchase Price:          $0.10 per share

    Warrants:                15,420,050 share purchase warrants to purchase
                             15,420,050 shares

    Warrant Exercise Price:  $0.15 for a two year period

    Number of Placees:       15 placees

    Finders' Fees:           Research Capital Corp. - $14,456.00
                             Limited Market Dealership - $80,000

    Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company
must issue a news release announcing the closing of the private placement and
setting out the expiry dates of the hold period(s). The Company must also
issue a news release if the private placement does not close promptly.

    TSX-X
                       --------------------------------

    ANIMAS RE

SOURCES LTD. ("ANI") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation in connection with an Option Agreement dated October 15, 2008 between the Company and Mineral Lixivian, S.A. de C.V. (Mayo Ramirez Guitiérrez, Efrén Rosas Briones and Samuel Ocan(*)a Garcia) with respect to the Ophelia and Santa Gertrudis concessions located in the Santa Teresa mining district, Mexico. The aggregate consideration is US$422,000 over an 18 month period and 217,000 common shares. TSX-X -------------------------------- ARCHANGEL DIAMOND CORPORATION ("AAD") BULLETIN TYPE: Halt BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company Effective at the open, October 20, 2008, trading in the shares of the Company was halted pending an announcement; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. TSX-X -------------------------------- ARCHANGEL DIAMOND CORPORATION ("AAD") BULLETIN TYPE: Resume Trading BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company Effective at 7:15 a.m. PST, October 20, 2008, shares of the Company resumed trading, an announcement having been made over Canada News Wire. TSX-X -------------------------------- ATW GOLD CORP. ("ATW") (formerly ATW Venture Corp. ("ATW")) BULLETIN TYPE: Name Change BULLETIN DATE: October 20, 2008 TSX Venture Tier 1 Company Pursuant to a resolution passed by shareholders October 7, 2008, the Company has changed its name as follows. There is no consolidation of capital. Effective at the opening, October 21, 2008, the common shares of ATW Gold Corp. will commence trading on TSX Venture Exchange, and the common shares of ATW Venture Corp. will be delisted. The Company is classified as a 'Mining' company. Capitalization: Unlimited shares with no par value of which 60,471,256 shares are issued and outstanding Escrow: Nil Transfer Agent: Computershare Trust Company Trading Symbol: ATW (unchanged) CUSIP Number: 002105 10 4 (new) TSX-X -------------------------------- AUSAM ENERGY CORPORATION ("AZE") BULLETIN TYPE: Warrant Price Amendment BULLETIN DATE: October 20, 2008 TSX Venture Tier 1 Company TSX Venture Exchange has consented to the temporary reduction in the exercise price to US$1.50 of the warrants described below. The reductions will be in effect from October 20, 2008 to November 18, 2008 (the 'Reduction Period'), following which any unexercised warrants will revert to their original exercise price. During the Reduction Period only, the warrants will be exercisable for Units instead of common shares. Each Unit will consist of one common share and one-half of one share purchase warrant ('Incentive Warrant'). Each whole Incentive Warrant will exercisable for one additional common share for a period of five years from the date of issuance at a price of US$1.50 in the first two years, US$1.65 in the third year, US$1.82 in the fourth year, or US$2.00 in the fifth year. Private Placement No. 1: No. of Warrants: 3,092,682 Expiry Date of Warrants: February 8, 2012 Original Exercise Price of Warrants: $3.25 New Exercise Price of Warrants: US$1.50 (*)These warrants were issued pursuant to a private placement of 30,926,842 shares with 15,463,421 share purchase warrants attached, which was accepted for filing by the Exchange effective April 10, 2007. Private Placement No. 2: No. of Warrants: 1,996,666 Expiry Date of Warrants: February 8, 2012 Original Exercise Price of Warrants: $3.75 New Exercise Price of Warrants: US$1.50 (*)These warrants were issued pursuant to a private placement of 19,966,666 First Preferred Shares, Series 2 with 9,983,333 share purchase warrants attached, which was accepted for filing by the Exchange effective April 10, 2007. Private Placement No. 3: No. of Warrants: 125,685 Expiry Date of Warrants: September 7, 2012 Original Exercise Price of Warrants: $3.25 New Exercise Price of Warrants: US$1.50 (*)These warrants were issued pursuant to a private placement of 1,256,852 shares with 628,425 share purchase warrants attached, which was accepted for filing by the Exchange effective April 11, 2008. Private Placement No. 4: No. of Warrants: 4,461,099 Expiry Date of Warrants: July 3, 2012 Original Exercise Price of Warrants: $3.00 New Exercise Price of Warrants: US$1.50 (*)These warrants were issued pursuant to a private placement of a convertible debenture in the amount of US$25,000,000 with 22,305,496 share purchase warrants attached, which was accepted for filing by the Exchange effective July 11, 2007. (*)Note that the private placement information included above reflects the figures prior to the Company's share consolidation effective September 27, 2007. TSX-X -------------------------------- BAYMOUNT INCORPORATED ("BYM") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced August 28, 2008: Number of Shares: 3,100,000 shares Purchase Price: $0.10 per share Number of Placees: 3 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares F. Helmut Biemann Y 400,000 For further details, please refer to the Company's news release dated August 28, 2008. TSX-X -------------------------------- BTB REAL ESTATE INVESTMENT TRUST ("BTB.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: October 20, 2008 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.01333 Payable Date: November 14, 2008 Record Date: October 31, 2008 Ex-Distribution Date: October 29, 2008 TSX-X -------------------------------- GENOIL INC. ("GNO") BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s BULLETIN DATE: October 20, 2008 TSX Venture Tier 1 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement: Convertible Debenture: $1,227,355.84 Conversion Price: Convertible into common shares at a rate of $0.27 of principal per share until maturity. Maturity date: October 6, 2009 Warrants: 1,136,442 Each warrant is exercisable for one common share at a price of $0.41 for a period of one year from the date of issuance. Interest rate: 12 % Number of Placees: 4 placees Insider/Pro Group Participation: Insider equals Y/ Principal Name ProGroup equals P/ Amount Warrants Lifschultz Enterprises Co., LLC Y $834,581.78 772,761 Sidney B. Lifschultz 1992 Family Trust Y $129,218.66 119,647 David K. Lifschultz Y $131,777.70 122,017 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). TSX-X -------------------------------- GOLD STAR RE

SOURCES CORP. ("GXX") BULLETIN TYPE: Warrant Term Extension BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has consented to the extension in the expiry date of the following warrants: No. of Warrants: 1,550,000 Original Expiry Date of Warrants: November 20, 2008 New Expiry Date of Warrants: November 20, 2009 Exercise Price of Warrants: $0.15 These warrants were issued pursuant to a private placement of 3,070,000 shares with 3,070,000 share purchase warrants attached, which was accepted for filing by the Exchange effective November 16, 2007. TSX-X -------------------------------- MACDONALD MINES EXPLORATION LTD. ("BMK") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation relating to an option agreement (the "Agreement") dated October 2, 2008, between Shoreham Resources Ltd. (the "Optionor") and MacDonald Mines Exploration Ltd (the "Company"). Pursuant to the Agreement, the Company shall have the option to acquire an undivided 40% interest in the Sachigo Lake Property (the "Property") (the Company will acquire an undivided 100% interest in the event Escape Group Inc. does not earn it's 60% interest in the Property pursuant to its pre-existing option agreement with the Optionor). The interest in the Property shall be subject to a 2.5% net smelter return royalty, of which the Company shall have the right to 'buy back' 1% at any time for the sum of $1,000,000. In order to earn its interest in the Property, the Company must pay the Optionor an aggregate of $150,000 within three years, issue 300,000 common shares within one year, and issue 600,000 common share purchase warrants (each exercisable into 1 common share at a price of $0.40 for a period of two years from issuance) within one year. TSX-X -------------------------------- PETROGLOBE INC. ("PGB") BULLETIN TYPE: Property Asset or Share Disposition Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing a Letter of Intent ("LOI") between PetroGlobe Inc. (the "Company") and 1427668 Alberta Ltd. (the "Purchaser"). Pursuant to the LOI, the Company will sell 100% of the common shares it holds in PetroGlobe (Canada) Ltd. to the Purchaser. In consideration, the Company will receive $350,000. TSX-X -------------------------------- PITCHSTONE EXPLORATION LTD. ("PXP") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 1 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced September 26, 2008: Number of Shares: 2,501,000 flow through shares Purchase Price: $0.60 per share Number of Placees: 7 placees Finders' Fees: $58,800 payable to Dundee Securities Corporation $15,000 payable to Toll Cross Securities Inc. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X -------------------------------- PLATINEX INC. ("PTX") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement (first tranche) announced October 3, 2008: Number of Shares: 1,583,333 flow-through shares and 2,300,000 non flow-through shares Purchase Price: $0.15 per flow-through share $0.125 per non flow-through share Warrants: 2,300,000 share purchase warrants to purchase 2,300,000 shares Warrant Exercise Price: $0.35 for a two year period Number of Placees: 12 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares James Marrelli Y 320,000 Korine Craig Y 200,000 Bruce Reilly Y 300,000 James Trusler Y 480,000 Finder's Fees: $3,000 in cash payable to BMO Nesbitt Burns Ltee., Montreal, QC. For further details, please refer to the Company's news release dated October 3, 2008. TSX-X -------------------------------- RADISSON MINING RE

SOURCES INC. ("RDS") BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing the documentation relating to an amended option agreement, dated October 1, 2008. The amendment relates to payment terms within the original August 29, 2005 agreement, under which the Company acquired a property located in the Dryden region of the province of Ontario. Under the terms of the amended agreement, the final payment, which was to consist of 20,000 class A shares of the Company and $20,000 in cash will instead be made with 220,000 class A shares and $5,000 in cash. For further information, please refer to the Company's press release dated October 17, 2008. RES

SOURCES MINIERES RADISSON INC. ("RDS") TYPE DE BULLETIN : Modification à une convention d'achat de propriété, d'actif ou d'actions DATE DU BULLETIN : Le 20 octobre 2008 Société du groupe 2 de TSX Croissance Bourse de croissance TSX a accepté le dépôt de documents relativement à un amendement à une convention d'option datée du 1er octobre 2008. L'amendement concerne les modalités de paiement aux termes de l'entente originale du 29 août 2005, selon laquelle la société a acquis une propriété situé dans la région Dryden en Ontario. Aux termes de l'entente amendée, le dernier paiement, qui aurait consisté en 20 000 actions catégorie A de la société et 20 000 $ en espèces, consistera en 220 000 actions catégorie A et 5 000 $ en espèces. Pour plus d'information, veuillez vous référer au communiqué de presse émis par la société le 17 octobre 2008. TSX-X -------------------------------- SEDEX MINING CORP. ("SDN") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced September 9, 2008: Number of Shares: 6,666,667 flow through shares 625,000 non-flow through shares Purchase Price: $0.06 per share Warrants: 7,291,667 share purchase warrants to purchase 7,291,667 shares Warrant Exercise Price: $0.10 for a two year period Number of Placees: 2 placees Finder's Fee: $32,000 payable to BMO Nesbitt Burns Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X -------------------------------- SILK ROAD RE

SOURCES LTD. ("SIL") BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced July 3, 2008, July 16, 2008 and August 21, 2008: Convertible Debenture: $500,000 Conversion Price: Convertible into common shares at $1.00 of principal outstanding Maturity date: July 10, 2011 Interest rate: 7% per annum Number of Placees: 1 placee Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ Principal Amount Patriarco Holdings Ltd. Y $500,000 (Anthony Patriarco and Nancy Patriarco) Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X -------------------------------- SOLID RE

SOURCES LTD. ("SRW") BULLETIN TYPE: Shares for Debt BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing the Company's proposal to issue 300,000 shares at a deemed price of $0.20 to settle outstanding debt for $60,000. Number of Creditors: 1 Creditor Insider/Pro Group Participation: Deemed Insider equals Y/ Amount Price No. of Creditor Progroup equals P Owing per Share Shares Kevin Moore Y $60,000 $0.20 300,000 The Company shall issue a news release when the shares are issued and the debt extinguished. TSX-X -------------------------------- SOLID RE

SOURCES LTD. ("SRW") BULLETIN TYPE: Shares for Debt BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing the Company's proposal to issue 551,680 shares at a deemed price of $0.20 to settle outstanding debt for $100,836. Number of Creditors: 3 Creditors Insider/Pro Group Participation: Deemed Insider equals Y/ Amount Price No. of Creditor Progroup equals P Owing per Share Shares McKinders Financial (Harry McKinders) Y $74,802 $0.20 424,010 Leonard Trump Y $15,534 $0.20 77,670 The Company shall issue a news release when the shares are issued and the debt extinguished. TSX-X -------------------------------- TEARLACH RE

SOURCES LIMITED ("TEA") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for expedited filing documentation with respect to a Non-Brokered Private Placement announced October 15, 2008: Number of Shares: 1,000,000 shares Purchase Price: $0.05 per share Warrants: 1,000,000 share purchase warrants to purchase 1,000,000 shares Warrant Exercise Price: $0.10 for a two year period Number of Placees: 2 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Richard Pomper P 500,000 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X -------------------------------- VAULT MINERALS INC. ("VMI") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement (the "Agreement") dated September 24, 2008, between Vault Minerals Inc. (the "Company") and four arms-length parties (collectively, the "Optionors"). Pursuant to the Agreement, the Company shall have the option to acquire a 100% undivided interest in a mining claim (the "Property") located in Teck Township of Ontario. As consideration, the Company must pay the Optionors an aggregate of $27,000, issue 90,000 common shares, and incur a minimum aggregate of $50,000 in exploration expenditures on the Property within the first two years. The Company must pay the Optionors a 2% royalty (the "Royalty") from any production on the Property. Furthermore, the Company has the option to purchase 50% of the Royalty by making a further aggregate payment of $1,000,000 to the Optionors. For further information, please refer to the Company's press release dated October 9, 2008. TSX-X -------------------------------- VAULT MINERALS INC. ("VMI") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement (the "Agreement") dated September 24, 2008, between Vault Minerals Inc. (the "Company") and two arms-length parties (collectively, the "Optionors"). Pursuant to the Agreement, the Company shall have the option to acquire a 100% undivided interest in a mining claim (the "Property") located in Teck Township of Ontario. As consideration, the Company must pay the Optionors an aggregate of $8,000, issue 30,000 common shares and incur a minimum of $5,000 in exploration expenditures on the Property within the first year. The Company must pay the Optionors a 2% royalty (the "Royalty") from any production on the Property. Furthermore, the Company has the option to purchase 50% of the Royalty by making a further aggregate payment of $1,000,000 to the Optionors. For further information, please refer to the Company's press release dated October 9, 2008. TSX-X -------------------------------- VENGA AEROSPACE SYSTEMS INC. ("VAV") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 10, 2008: Number of Shares: 10,900,000 shares Purchase Price: $0.05 per share Number of Placees: 7 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares David Jacob Rotfleisch Y 2,000,000 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company has issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). TSX-X -------------------------------- VITREOUS GLASS INC. ("VCI") BULLETIN TYPE: Declaration of Dividend BULLETIN DATE: October 20, 2008 TSX Venture Tier 2 Company The Issuer has declared the following dividend: Dividend per Share: $0.06 Payable Date: November 17, 2008 Record Date: November 3, 2008 Ex-distribution Date: October 30, 2008 TSX-X --------------------------------

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