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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM Sept 19, 2002 Solium Announces Private Placement CALGARY, ALBERTA--Solium Capital Inc. ("Solium") announces its intention to raise up to $400,000 by way of a private placement at a price of $0.20 per common share. The issuance of up to 2,000,000 common shares represent 9.2% of the issued and outstanding shares immediately after closing of the proposed private placement. The board of directors of Solium have approved the issuance of up to 2,000,000 common shares at a price of not less than $0.20 per common share. Solium has already received commitments for the subscription of $235,000, of which up to $130,000 may be committed by Michael Broadfoot, the Chairman of Solium. Following the closing of the proposed private placement, Mr. Broadfoot will hold up to 3,150,000 shares in the capital of Solium, which represent 16.0% of the issued and outstanding shares in the capital of Solium, and 1,250,000 warrants to acquire 1,250,000 common shares until May 23, 2005 at a price of $0.25 per common share. Solium will complete the financing by way of a non-brokered private placement. The closing for the proposed private placement is expected to occur by no later than October 15, 2002 because of the immediate need for working capital to fund Solium's growth objectives. This announcement updates an earlier announcement that was issued on May 23, 2002 regarding a proposed private placement. The proceeds from the proposed private placement will be used for working capital purposes and to further implement new functionality and product enhancements of the e-SOAP and e-SPP applications. These product developments are critical to Solium in continuing in its success and strategy, to quickly penetrate the Canadian marketplace as it relates to employee stock option and share purchase management programs. This proposed private placement remains subject to Solium filing formal notice with the TSX Venture Exchange and receipt of regulatory approval. 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. -30 - FOR FURTHER INFORMATION PLEASE CONTACT:
Solium Capital Inc. The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
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