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STARPOINT GOLDFIELDS INC: Initiatives to Reactivate Company's Affairs / February 3, 2000
STARPOINT GOLDFIELDS INC. ("STS-V;SPSMF-L") - Initiatives to Reactivate Company's Affairs
Further to the Company's news release of February 1, 2000, the Company is taking the following
initiatives to reactivate its affairs.
Debt Settlement
The Company will negotiate with creditors to settle up to $320,000 in corporate debt by the issue of up
to 2,666,666 shares at a discounted price of $0.12/share.
Options
The Company will cancel 243,000 options reserved for issue at $0.20/share through November 7, 2000
and will grant options to Directors, Employees and Consultants options to purchase 498,000 shares at
$0.12/share through February 2, 2002.
Directors
Mr. Stanley J. Stanley, FCCA, FlMgt, CMC has accepted an appointment to the Board. Mr. Stanley is
a professional management consultant and an accountant with extensive international business
experience.
Private Placement
Management has secured funding by way of a non-brokered private placement and will sell up to
2,500,000 units at a discounted price of $0.12/unit. Each unit comprises one common share and one
share purchase warrant. Each warrant is exercisable to purchase one additional share until February
2, 2000 at $0.12 or at $0.14 until February 2, 2002. These funds will be used to meet the Company's
working capital obligations and to cover the investigation costs for new projects in the high tech
sector. TEL: (604) 924-1246 Donald A. Lyons, Corporate Secretary
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