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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM December 20, 2002 CALGARY, ALBERTA-Solium Capital Inc. ("Solium") announces that it has closed the issuance of $1,000,000 in demand debentures (the "Debentures"). The proceeds from the financing will be used for working capital purposes and to further implement new functionality and product enhancements of the E-SOAP and share purchase plan applications. It is expected that the proceeds will provide sufficient cash for Solium to execute on its business plan and to reach a positive cashflow position before the end of 2003. The Debentures bear an interest rate of 10% per annum, and the interest will be payable on a quarterly basis. The Debentures are secured and supported by a fixed and floating charge covering all of the present and after-acquired assets, undertakings and personal property of Solium. Michael Broadfoot, the Chairman of Solium, and Shelley Kuipers, a director of Solium, provided the debt financing to Solium.
About Solium Capital Inc. (SUM - TSX Venture Exchange): The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. -30 - FOR FURTHER INFORMATION PLEASE CONTACT:
Solium Capital Inc.
INDUSTRY: SCR -0 - |
