To: brian krause who wrote (7604 ) 4/11/2002 3:09:03 PM From: Al Collard Read Replies (1) | Respond to of 11802 IWA-t ...in the news:Int'l Wayside arranges $540,000 financing Thu 11 Apr 2002 Mr. J. Frank Callaghan reports SHORT FORM OFFERING DOCUMENT International Wayside Gold Mines will be filing with the Canadian Venture Exchange a short form offering document. This offering replaces the previous offering reported in Stockwatch on Dec. 10 and Dec. 19, 2001. Under the terms of the revised offering, the company will offer for sale up to 1.2 million units at a price of 45 cents per unit, for gross proceeds of $540,000. Each unit consists of two flow-through common shares, one flow-through warrant, one non-flow-through common share and one-half of one non-flow-through warrant. One flow-through warrant will entitle the holder to purchase one additional flow-through share at the price of 25 cents per share for a period expiring Dec. 31, 2002, and one full non-flow-through warrant will entitle the holder to purchase one additional non-flow-through share at the price of 25 cents per share for a period of 12 months from the closing of the offering. Yorkton Securities Inc. has agreed to act as agent on a best-efforts basis to complete the offering. In consideration for the services to the provided, the agent will receive: (a) a commission equal to 8 per cent of the gross proceeds realized from the offering, payable in cash; (b) a corporate finance fee equal to $10,000, plus 2 per cent of the offering proceeds exceeding $250,000 plus applicable taxes thereon, of which $5,000 plus GST is non-refundable should the offering not close; and (c) a non-transferable option to acquire such number of common shares as is equal to 15 per cent of the total number of common shares sold, exercisable for a term of two years from the closing date. The company intends to use the proceeds from the offering for additional work on its mineral properties in the Cariboo mining division of British Columbia, known as the Cariboo gold project, a payment to Mosquito Consolidated Gold Mines Ltd., pursuant to an amendment to its option agreement with Mosquito, and for working capital purposes.