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Dura Products Announces A Private Placement Financing Of Units For C$780,000.

Business Editors

TORONTO--(BUSINESS WIRE)--March 30, 2001

Michael P. Zuk, President and CEO, announced that the Dura Products International Inc. (NASDAQ:DRPDF) (CDNX:YDU.) has entered into Private Placement Agreements with two investors for the sale of Units for a total investment of C$780,000.

The Investors have agreed to purchase a total of 2,600,000 Units at a price of C$0.30 per Unit. Each Unit consists of one Common share and one Common Share Purchase Warrant. One Common Share Purchase Warrant plus C$0.50 will allow the holder to purchase one additional Common Share of the Company. The Common Share Purchase Warrants shall expire 18 months from the Closing Date. The Closing Date shall be on or before April 28, 2001. Closing is subject to regulatory approval, the completion of due diligence and formal approval by the Board of Directors of Dura Products.

The funds will be used to purchase production equipment and to increase working capital in support of substantial increases in sales.

Dura Products International Inc. is an eco-efficient producer of a proprietary composite material made from recycled post-industrial plastics and cellulose fibre. Dura Products manufactures a number of products from its composite material including decking materials, components for fabricating skids and pallets and other engineered shapes for various other applications.

"The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release."
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Publication:Business Wire
Date:Mar 30, 2001
Words:238
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