MONTREAL, June 10, 2002 (PRIMEZONE) -- BusinessWay International Corporation (OTCBB:BITL) is pleased to announce the FONDACTION CSN Pour La Cooperation et L'Emploi, has exercised the share conversion and has received 6,000,000 common shares of BusinessWay International Corporation. These shares are restricted and have a hold period as per the legend on the certificate pursuant to the terms of the Share Exchange and Call Option agreement dated September 12th, 2000 between FONDACTION CSN and BusinessWay International Corporation. The shares are issued at a price of US$0.09 per share. The total share value on the date of issue is US$540,000.
"We are pleased to count the FONDACTION as a continued supporter and participant of our corporation. Also our company is now in the final legal document preparation stage for the closing with Pourslo International Development Inc. and this should be concluded shortly. With many new projects ahead, we are very excited about this business opportunity and we are convinced that these will bring tremendous value to our shareholders," said Fabrice Zambito, Chairman of BusinessWay.
Fondaction CSN Pour La Cooperation et L'Emploi, is a Quebec-based venture capital fund formed in 1996 with over 40,000 shareholders and with well over $200 million dollars in assets and investments. The fund has invested to date over 100 million dollars in support of Quebec based corporations.
NB. Except for factual information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors.
For additional information: www.businessway.com/investors.
For additional information: www.fondaction.com/textes/investissement.htm