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FOR: SOLIUM CAPITAL INC. CDNX SYMBOL: SUM February 28, 2003 Solium Closes Acquisition of Bitonic CALGARY, ALBERTA-Solium Capital Inc. ("Solium") announced that it has closed its acquisition of all of the issued and outstanding common shares of Bitonic Solutions Inc. ("Bitonic") for total consideration of $566,083 consisting of 2,830,415 common shares of Solium at a deemed price of $0.20 per share. 833,333 of these common shares are subject to escrow and will be released on March 1, 2003, December 1, 2003 and December 1, 2004, provided that certain performance requirements are satisfied. Due to the consummation of the acquisition of Bitonic, Solium has 21,610,753 common shares and 2,500,000 preferred shares issued and outstanding. Approval for the acquisition was obtained by written consent from disinterested shareholders of Solium who held a majority of the voting shares in the capital of Solium. Disinterested shareholders were considered to be all of the shareholders of Solium who held voting shares, other than the officers, directors and shareholders of Bitonic. Bitonic is an open solution software development company specializing in Java related technologies and has been instrumental in the development of Solium's E-SOAP application to date. Marcos Lopez, Bitonic's President and Chief Executive Officer, will continue in the role of a Director, and as Chief Technical Officer and Vice President of Business Strategy for Solium. The acquisition of Bitonic will solidify the application development area of Solium's business. Bitonic's extensive knowledge of the E-SOAP and stock purchase plan applications will strengthen Solium's ability to rapidly implement new functionality and product enhancements. This rapid development is critical to Solium in continuing in its success and strategy, to quickly penetrate the Canadian marketplace as it relates to employee stock-option management programs.
About Solium Capital Inc. (SUM - TSX Venture Exchange): -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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