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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM October 16, 2002 Solium Announces Closing of Private Placement Solium Capital Inc. ("Solium") is pleased to announce that it has completed a $315,000 private placement of 1,575,000 common shares issued at $0.20 per share. The common shares issued in connection with the private placement offering are subject to a hold period of 12 months under applicable securities laws. The proceeds from the offering will be used for working capital purposes and to further implement new functionality and product enhancements of Solium's e?SOAP and share purchase plan applications. These product developments are vital to Solium in continuing its success and strategy to quickly penetrate the Canadian employee share entitlement marketplace. About Solium Capital Inc. (SUM-TSX Venture Exchange): Solium is an outsourced provider of solutions for employee share entitlement programs. Solium's flagship application, e-SOAP, is a complete end-to-end solution for the administration, execution and reporting of employee stock options for Canadian public companies. 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. The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
INDUSTRY: SCR -0 - |
