Energy Visions Inc. Agrees To Exercise Option To Purchase Control Of Pure Energy Inc.

Business Editors

TORONTO--(BUSINESS WIRE)--Oct. 10, 2002

Energy Visions Inc. ("Energy Visions" or "EVI") (OTCBB:EGYV)(TSX VENTURE:EVI.S) announced today that it has agreed to exercise its option (the "Option"), to acquire directly and indirectly a 51% controlling interest in Pure Energy Inc. ("PEI" or "Pure Energy"). EVI intends to purchase 21,293,571 PEI treasury common shares at approximately Cdn. $0.14 per PEI common share for a total consideration of Cdn. $3,000,000 ("Purchase Price"). To complete the transaction, EVI must pay PEI the sum of Cdn. $1,000,000, the agreed cash portion of the Purchase Price, by October 14, 2002. An additional Cdn. $1,000,000 of the Purchase Price will be satisfied through the conversion of 1,000,000 previously announced preferred shares of PEI which PEI has agreed to issue to EVI for 1,000,000 common shares of EVI.

The aggregate balance of the Purchase Price, satisfied by the issuance of EVI common shares, will be valued at a weighted average market price of EVI common shares traded on the TSX Venture Exchange during the 20 days prior to the exercise of the Option. To complete the acquisition of control of PEI, EVI will issue additional EVI common shares to Nova Scotia Business Inc. ("NSBI") in exchange for PEI shares that will be held by NSBI as a result of the debt restructuring plan approved by the Province of Nova Scotia on June 21, 2002. The issuances of EVI common shares are subject to the approval of TSX Venture Exchange Inc.

Both Energy Visions and Pure Energy are currently completing due diligence activities associated with various financing options available to EVI to obtain the requisite funds and complete the acquisition of a controlling interest in PEI. The parties to the option agreement, as amended, could elect to extend the time available for EVI to pay the cash portion of the Purchase Price if business conditions permit and the parties thereto (other than EVI) are satisfied with the progress EVI is making in its overall fund raising efforts.

The ability of EVI to pay for the exercise of the Option and complete the acquisition of a controlling interest in Pure Energy involves a number of risks and uncertainties and there is no assurance that such transactions will occur.

Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward looking statements" pursuant to Section 27A of the 1933 Act and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward looking statements" are based on expectations, estimates and projections at the time the statements are made that involve risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. There can be no assurance that such statements will ever prove to be accurate and readers should not place undue reliance on any such "forward looking statements" contained herein.

Neither the TSX Venture Exchange nor NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy or accuracy of this release.