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BRIO INDUSTRIES RENEGOTIATES LOAN

 VANCOUVER, British Columbia, Sept. 7 /PRNewswire/ -- Gunnar J. Vogel, chairman of Brio Industries, reports further to a news release dated Aug. 11, 1993, where the company announced that it had agreed to loan $200,000 to Selkirk Springs International Corp. and its operating subsidiary, Selkirk Springs (Canada) Corp., to assist Selkirk in its acquisition of the assets of Western Canada Beverage Corp., in bankruptcy. Brio is pleased to announce that the loan has been renegotiated and that it has now agreed to loan $500,000 to Selkirk. The loan will be secured against the assets of Selkirk, subordinate to $1,300,000 of secured debt in favour of Royal Bank of Canada. The loan will accrue interest at the rate of 12 percent per annum and Brio will receive 216,667 free trading common shares of Selkirk as a bonus for making the loan. The principal amount of the loan is convertible by Brio into shares of Selkirk at the rate of $0.60 per share. The revised agreement between Brio and Selkirk is subject to acceptance for filing by the Vancouver Stock Exchange.
 -0- 9/7/93
 /CONTACT: Gunnar J. Voge, Chairman, 604-436-5876/
 (BNI.)


CO: Brio Industries Inc. ST: British Columbia IN: SU: FNC

JB-EH -- LA017 -- 9299 09/07/93 11:17 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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