Notice of Approval: OSCP - 41-601 - Capital Pool Companies

On June 10, 2002, the Ontario Minister of Finance approved the CPC Operating Agreement under subsection 143.10(2) of the Securities Act (Ontario). The CPC Operating Agreement was previously published in the OSC Bulletin on April 12, 2002.

The CPC Operating Agreement was entered into among the Canadian Venture Exchange Inc. (now the TSX Venture Exchange Inc.), the British Columbia Securities Commission, the Alberta Securities Commission, the Saskatchewan Securities Commission, the Manitoba Securities Commission and the OSC. It sets out the procedures to be adopted by the parties in connection with the TSX Venture Exchange's capital pool company program (the "Program").

OSC Policy 41-601 Capital Pool Companies was also published in the OSC Bulletin on April 12, 2002. Policy 41-601 sets out the OSC's views on public offerings in Ontario by Program participants. The notice accompanying Policy 41-601 states that Policy 41-601 will become effective on the date that the CPC Operating Agreement comes into effect.

Both the CPC Operating Agreement and Policy 41-601 will come into effect on June 15, 2002.

June 11, 2002.