Binscarth PVC Ventures Inc. Completes Initial Public Offering.

TORONTO -- Binscarth PVC Ventures Inc. ("Binscarth") (TSX VENTURE:BPV.P) is pleased to announce that it has completed its initial public offering as a capital pool company ("CPC").

Binscarth completed an initial public offering of 4,640,000 common shares at a price of $0.25 per share for gross proceeds to Binscarth of $1,160,000 to purchasers in Ontario, Alberta and British Columbia. First Associates Investments Inc. acted as agents in respect of the offering and received a cash commission, as well as options to acquire an aggregate of 464,000 common shares for a period of 18 months from the date of listing of the common shares on the TSX Venture Exchange (the "Exchange") at an exercise price of $0.25 per common share.

Binscarth recently completed a private placement for gross proceeds $840,000 from its founders as well as certain accredited and institutional investors, which means that after completion of its initial public offering, Binscarth raised total gross proceeds of $2 million, the maximum amount allowed under the rules of the CPC program.

The directors and officers of Binscarth are Perry Dellelce, Anthony Griffiths, Ruby Osten, Barry Reiter, Nelson Smith and Peter Snucins. Binscarth is the first CPC project by this group.

Perry Dellelce is Corporate Secretary of Binscarth. Perry Dellelce is a founder and has been a partner at Wildeboer Rand Thomson Apps & Dellelce, LLP, a boutique business law firm since its inception in 1993. The firm's client base includes a wide range of public, private and regulated companies, investment dealers, venture capitalists and lenders. Mr. Dellelce currently serves as an officer of or a director of various corporations, including acting in the capacities referred to for the following corporations: corporate secretary, Medoro Resources Limited, a publicly traded junior gold mining exploration company; director FRI Corporation, a privately held software company serving the financial services industry; and director, Claymore Capital Management Inc., a private equity fund focused on work-out or turn-around situations.

Anthony Griffiths is a director of Binscarth. Over his long and distinguished career, Mr. Griffiths has been associated with numerous companies acting as either an operating executive or a director. Mr. Griffiths has been President and Chief Executive Officer of Jonlab Investments, Chairman and Chief Executive Officer of Canadian Cablesystems Ltd. and Chairman, President and Chief Executive Officer of Mitel Corp. Mr. Griffiths is currently the Chairman of the Board of Directors of Russel Metals Inc. and Leitch Technology Corporation. Mr. Griffiths is also a director of Alliance Atlantis Communications Inc., ShawCor Ltd., Vitran Corporation, Fairfax Financial Holdings Limited, IMI International Medical Innovations Inc., Hub International Limited and Odyssey Re Holdings Corp.

Ruby Osten is a director of Binscarth. Mr. Osten co-founded PC DOCS Group International, a TSE and Nasdaq listed company, and served as its CEO until the sale of the company in 1999. PC DOCS Group, listed on both TSX and Nasdaq, was one of the world's leading providers of document management and practice management software. Mr. Osten has been the Chairman and Chief Executive Officer of Cowboy Corp., a provider of customer relationship management software for the automotive industry, and a director of Sprectra Securities Software Inc., a provider of software to the financial services industry focused on wealth management. Currently Mr. Osten is President and CEO of Raspberry Investments, an investment and consulting firm, and is also a director of MediSolution Ltd., a leading provider of healthcare information technology to the healthcare industry. Mr. Osten is also a director and advisor to a number of private companies.

Barry Reiter is a director of Binscarth. Mr. Reiter is a member of the Executive Committee, Chairman of the Technology Group and a partner of Torys LLP, a law firm based in New York and Toronto. Mr. Reiter is the Chairman of the Board of Directors of Algorithmics Inc. and a director of Avotus Corporation, Alliance Atlantis Communications Inc., Eco Waste Solutions Inc., RBC Technology Ventures Inc. and 724 Solutions Inc., as well as being a member of the Advisory Board of the Centre for Innovation Law and Policy.

Nelson Smith is Chairman, Chief Executive Officer and a director of Binscarth. Mr. Smith has considerable experience in the financing of smaller-capitalization companies in the public markets. He was, until December 31, 2003, a Vice-President of Orion Securities Inc. (formerly Yorkton Securities Inc.), a major independent Canadian investment dealer. In 1992 Mr. Smith was one of the co-founders of "Canada's First Technology Investment Bank" at Yorkton and, from 1999 to 2002, was Head of Investment Banking. Mr. Smith has been a Director of a number of public companies, including Vidatron Entertainment Group, GTR Group Inc. and The Song Corporation.

Peter Snucins is Chief Financial Officer and a director of Binscarth. Mr. Snucins began his business career in 1978 joining Canadian Corporate Funding Limited ("CCFL") as an early shareholder and Director. From 1988 to 1993, he was President, Chief Operating Officer and Director of Clairvest Group Inc., a Canadian merchant bank listed on the Toronto Stock Exchange. Since 1993 Mr. Snucins has engaged in private equity investment and management. Mr. Snucins currently serves in senior management and Board capacities for various private corporations including: Ligos Corporation, a software company; Polycorp Ltd. (formerly B.F. Goodrich, Canada); Mining Technologies International Inc., a mining equipment manufacturer; and Mythum Interactive Inc., a text messaging platform company.

It is anticipated that the common shares of Binscarth will commence trading on the TSX Venture Exchange Inc. on Tuesday, June 22, 2004 under the stock symbol "BPV.P".

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.