thanks Silver, I hope the two new big guys buy into the $.30 placement to show they got skin in the game.

In addition, the Company plans to complete a non-brokered private placement financing for proceeds of $3,000,000 by issuing 10,000,000 common shares at a price of $0.30 per share, representing a significant premium to the last closing share price. No fees will be paid in connection with the private placement. Closing of the proposed private placement is subject to acceptance of the TSX Venture Exchange.

The Company also has, subject to regulatory approval, granted an aggregate of 6,400,000 incentive stock options to the new management and board appointees and consultants of the Company. The options are priced at $0.235 and will expire May 6, 2016. The options are part of a negotiated incentive package for the incoming directors and officers.