Alternative Fuel Systems ATF:VSE Message Board

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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE

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To: Stew who wrote (3392)	8/3/1999 1:57:00 PM
From: Jim Bishop	Read Replies (3) of 4605

News, are we surprised at what it is? CALGARY, Aug. 3 /CNW/ - Alternative Fuel Systems Inc., (the ''Company'') announced today a private placement of 290,504 Units at a price of $ 1.29 (Cdn.) per unit for total proceeds of $374,750.00 (Cdn.) subject to regulatory approval. Each Unit is comprised of one (1) common share and one (1) warrant. The warrants are exercisable at a price of $ 1.29 until October 1, 1999. The proceeds realized from the private placement will be used by the Company to finance its on-going marketing activities as well as to provide for working capital. Alternative Fuel Systems Inc., designs, develops and markets conversion systems which permit diesel and gasoline engines to operate on compressed natural gas. ON BEHALF OF THE BOARD OF DIRECTORS Gerhard O. Klopp President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release. %SEDAR: 00003847E -0- 08/03/1999 For further information: Gerhard O. Klopp, President, Telephone: (403) 262-1833, Fax: (403) 237-7441

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