Artevo Corporation Announces Closing of Private Placement and Additional Offering


    CALGARY, April 16 /CNW/ - Artevo Corporation ("Artevo" or the
"Corporation") (TSX Venture: AEV) is pleased to announce that it has closed on
$300,000 of its previously announced private placement (the "Private
Placement") and have issued 300,000 Debentures and 99,999 Warrants of the
Corporation. The securities issued will have a hold period of four (4) months
from the date of issuance.
    The Corporation is also pleased to announced that it has reapplied to the
TSX Venture Exchange ("TSXV") to offer for sale up to $3,000,000 principal
amount of secured debentures (the "Debentures") on the same terms as the
previous announced Private Placement. The Debenture will have an interest rate
of 15% per annum payable monthly and will be secured by a general security
agreement registered against the assets of the Corporation. For every $3.00 of
principal amount of Debentures purchased, subscribers will receive a share
purchase warrant (the "Warrant") with each Warrant entitling the holder
thereof to purchase one common share in the capital of the Corporation (the
"Common Shares") at an exercise price of $0.10 per Common Share for a period
of one year from the date of issuance. The Debentures will have a maturity
date of two years from the date of issuance and will not be redeemable by
Artevo during the first year. The Corporation may redeem the Debentures during
the second year thereby incurring a penalty of 3% of the principal amount of
the Debentures. Artevo may pay a commission of up to 6% cash to certain
introducing parties in respect on the sale of Debentures.
    The proceeds made available through the previously announced sale of
Debentures and the new private placement will be used to launch nationwide
revenue streams that are ready for deployment, initiate offline and online
marketing strategies, evaluate potential opportunities for acquisition, and
for working capital to fund ongoing operations of Artevo.

    Artevo is a technology driven company focused on the production,
marketing and distribution of collectable fine art products.
    The Corporation is headquartered in Calgary, Alberta. For further
information contact Christopher Talbot, the President and Chief Executive
Officer of Artevo at (403) 244-8123.

    The TSX Venture Exchange Inc. has neither approved nor disapproved the
    contents of this press release.

    Reader Advisory

    "This news release contains certain forward-looking statements, which
include assumptions with respect to future operations. The reader is cautioned
that assumptions used in the preparation of such information may prove to be
incorrect. All such forward looking statements involve substantial known and
unknown risks and uncertainties, certain of which are beyond Artevo's control.
Such risks and uncertainties include, without limitation, risks associated
with, currency fluctuations, competition from other companies, ability to
access sufficient capital from internal and external sources, the impact of
general economic conditions in Canada, the United States and overseas,
industry conditions,
    changes in laws and regulations and changes in how they are interpreted
and enforced, increased competition, the lack of availability of qualified
personnel or management, fluctuations in foreign exchange or interest rates,
stock market volatility and market valuations of companies with respect to
announced transactions and the final valuations thereof, and obtaining
required approvals of regulatory authorities. Artevo's actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that the Corporation will
derive there from. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to Artevo or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Furthermore, the
forward-looking statements contained in this news release are made as at the
date of this news release and Artevo does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws."

    %SEDAR: 00025100E

For further information:

For further information: Artevo Corporation, Christopher Talbot,
President and CEO, T (403) 244-8123, C (403) 397-1744,

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