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Gold/Mining/Energy : PYNG Technologies

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To: Stang who wrote (4280)8/7/1999 6:26:00 PM
From: Stang   of 8117
 
This is the second reprice of options in the last 12 months:

----------------------
 PYNG TECHNOLOGIES CORP.
7983 Progress Way
Delta, B.C.
V4G 1A3

NEWS RELEASE

October 20, 1998 Trading Symbol: PYT.V

Michael W. Jacobs, President of Pyng Technologies Corp. (the "Company"), announces today
that the Company has granted incentive stock options to purchase up to 36,500 shares in the
capital stock of the Company to certain employees and/or directors of the Company, subject to all
necessary regulatory and shareholder approvals. The options are exercisable at a price of $2.09
per share.

In addition, the Company has determined to amend the price of 600,000 options previously
granted to certain employees and/or directors of the Company at an exercise price of $4.97 per
share to an exercise price of $2.09 per share, subject to all necessary regulatory and shareholder
approvals.


ON BEHALF OF THE
BOARD OF DIRECTORS

"Michael W. Jacobs"


MICHAEL W. JACOBS
PRESIDENT

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

----------------------------
sedar.com

Oct 20 1998 Press release - English

Stang
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