patterson not to take up underwriting agreemen

The Company raised $1,287,000 under its recently completed Share Purchase Plan offer to
Shareholders.

The Company wishes to thank its shareholders for their support.

The
Company had entered into an Underwriting Agreement with Patersons Corporate Finance(“PCF”) for the first $2 million of the offer to be underwritten by PCF, however due to Market
conditions and in accordance with the terms of the Underwriting Agreement the balance will
now not be taken up by PCF.

Interesting