NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: NORMISKA CORPORATION CANADIAN DEALING NETWORK SYMBOL: NORP SEPTEMBER 10, 1998 Normiska Corporation Announcement TORONTO, ONTARIO--The Canadian Dealing Network Inc. has approved the quotation of the common shares and warrants of Normiska Corporation. Quotation on the CDN system under the symbol NORP for common shares and NORP.WT for warrants will be available starting September 10, 1998. As previously announced, the Corporation has successfully closed its Initial Public Offering of 1.2 million units. Each unit consisted of one common share and one half purchase warrant for gross proceeds of $1,200,000. The underwriter for the issue is Jones, Gable & Company Limited of Toronto. On July 31, an outstanding liability of $149,900 was converted into 149,900 common shares. Normiska Corporation's operations are located in Northwestern Ontario and the twin border towns of Fort Frances, Ontario, Canada and International Falls, Minnesota, U.S.A. The Corporation produces high-grade horticultural sphagnum peat moss, pine bark mulches and composted pine bark. The products will be distributed primarily in the U.S. Midwest under the trade name of Normiska Materials and will be used by plant growers; turf and lawn care specialists and gardeners as soil-less growing mediums and soil improvement agents. The Corporation currently has 5,086,340 common shares and warrants to purchase additional 600,000 common shares at a $1.25 up to January 17,2000, issued and outstanding. The Corporation also has reserved 252,000 common shares for issue upon exercise of the Underwriters Over-Allotment and Compensation Options. In addition conversion of an outstanding debt of $500,000 may result in the issue of 500,000 common shares and warrants to purchase an additional 500,000 common shares at a price of $1.00 per share for a period of 12 months after conversion. In the event that all shares are issued and warrants are exercised the total number of shares on issue would be 6,938,340. The Corporation is currently establishing full scale operations and therefore will ensure that all computer equipment and systems in place or to be acquired, will be year 2000 compliant. The Corporation does not rely on computerized inventory ordering and is not in any significant risk if suppliers or customers experience difficulties relating to a Year 2000 problem. On behalf of the Board of Directors, |