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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM MARCH 13, 2002 Solium Announces Sale of Online Brokerage CALGARY, ALBERTA--Solium Capital Inc. ("Solium") announced that it has signed an agreement for the sale of its wholly owned subsidiary, Solium Capital Online Inc. ("Online") to Tristone Capital Advisors Inc. ("Tristone"). Under the agreement, Tristone will purchase all of the issued and outstanding common shares of Online for a net purchase price of $25,000 payable in cash, and Online would continue to facilitate the underlying share transactions associated with the exercising of stock options on Solium's e-SOAP application. The transaction is expected to result in a decrease of approximately $20,000 per month in costs to Solium, and would free up the approximately $400,000 of capital currently tied up in Online for regulatory purposes. The transaction is subject to approval by the Canadian Venture Exchange and the Investment Dealers Association of Canada. Pending such approvals, the transaction is expected to close before the end of March 2002. -30 - FOR FURTHER INFORMATION PLEASE CONTACT:
Solium Capital Inc. The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
INDUSTRY: SCR -0 - |
