Mr. David Grant reports Pursuant to the resolution of the board of directors made Jan. 21, 2000, and the conditional approval of the Canadian Venture Exchange given March 9, 2000, the company has amended the exercise price of 610,000 options, previously issued to employees and consultants at exercise prices ranging from $1.90 to $2.72, to $1.20. Options issued to directors and senior management have not been amended.