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Gold/Mining/Energy : BCB VOICE SYSTEMS INC. (c.BIV) -- Ignore unavailable to you. Want to Upgrade?

To: D. Peter Vanderlee who wrote (158)	5/22/1998 2:18:00 PM
From: D. Peter Vanderlee	Read Replies (1) \| Respond to of 440

For Immediate Release BIV - Alberta Stock Exchange BCB TO ARRANGE PRIVATE PLACEMENT OF UP TO $650,000 MAINLY TO FINANCE PRODUCTION OF NEW DIGITAL HAND HELD RECORDERS May 22, 1998 - MARKHAM, ONTARIO - BCB Holdings Inc. announced today it intends to arrange a private placement, subject to regulatory approval, of up to $650,000 in 12%, 24-month, unsecured Notes, convertible into common shares of the Company. The proceeds of this issue will primarily be used to finance the build of the first 1,500 digital hand held recorders to be launched by BCB this summer, as reported in the Company's Six Months Report to Shareholders released on May 8, 1998. Ken Murton, Chairman and CEO of BCB stated, "This issue was placed with several directors and officers of the Company, on a non arms-length basis, as well as with outside investors on an arms-length basis." He added, "The Notes are fully convertible at the option of the holder at any time during the first 12 months at a price of $0.20, based on the closing price of BCB shares on the date of Notice to the Alberta Stock Exchange, and, if not converted during this period, at a price of $0.25, at any time during the last 12 months. Each $1,000 principal amount of notes will bear non-transferable warrants entitling the holder to purchase up to 2,500 common shares of the Company at a fixed price of $0.25 at any time up to or before May 31, 2000." Murton noted, " As already reported to shareholders, successful completion of current discussions regarding strategic alliances should have a very positive impact on BCB. However, no assurance can be given as to completion of any alliance, nor of timing if one is completed, hence we opted to effect this private placement in order to proceed with this dynamic new product, the digital hand held recorder." BCB Holdings Inc. owns and operates BCB Technology Group, a developer of innovative systems and services in computer-based voice processing markets, and Granville Research Inc., which designs and implements Internet-based networks. BCB means Better Communication in Business. For more information contact: Peter Vanderlee Flora Wood BCB Holdings Inc. CEF (905) 948-8266 ext. 204 (416) 777-0001 The Alberta Stock Exchange has neither approved nor disapproved the information provided herein.