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Private Placement accepted for filing

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced March 24, 2006:

Number of shares: 17,344,429

Purchase price: 35 cents per share

Warrants: 17,344,429 share purchase warrants to purchase 17,344,429 shares

Warrant exercise price: 47 cents for a one-year period

Number of placees: 27

Insider participation: RAB Capital PLC, 10.26 million shares; Yvonne Yeung, 10,000 shares

Pro group participation: Jonathan More, 100,000 shares

Finders' fees: $404,040 payable to Element & Associates (Martyn Element) $75,056.27 payable to LSI Hospitality Inc. (Ron Vincent)

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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