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Microcap & Penny Stocks : JAWS Technologies - NASDAQ (NM):JAWZ -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (829)	8/20/1998 12:20:00 AM
From: Senator949	Read Replies (2) \| Respond to of 3086

OT.... Reason for the RBP trading HALT.. CALGARY, Aug. 5 /CNW/ - The Alberta Stock Exchange has issued the following trading halt: Issuer Name: Rainbow Petroleum Corp. ASE Ticker Symbol: RBP Time of Halt: 14:30 08/04/98 Reason for Halt: Halted for Alberta Stock Exchange Circular 8 filings /For further information: Market Surveillance, The Alberta Stock Exchange, (403) 974-7400/ 09:49 ET Press Release from RBP: EDMONTON, Aug. 4 /CNW/ - Rainbow Petroleum Corp. (''Rainbow'') is pleased to announce that it has entered into a Joint Venture agreement with ViaSpace Technology Corp. (''ViaSpace''), a private technology incubation company whose charter is to develop and commercialize new and innovative technologies. ViaSpace has acquired the option to exclusively license, for commercial purposes, select technologies developed by the Jet Propulsion Laboratory (JPL), of Pasadena, California. JPL is a NASA facility for space exploration managed by California Institute of Technology (Caltech). The Joint Venture has been undertaken for the sole purpose of developing commercial and military applications for the Quantum Well Infrared Photodetector (QWIP). Infrared Photodetectors measure the heat emissions from a body and are used by the military for night vision and aircraft and missile tracking. In addition, based on third party reports, the Joint Venture management believes there are vast potential commercial uses for this technology including such areas as security and surveillance, environmental, medical, and industrial. ViaSpace is negotiating for the Joint Venture, access to JPL's unique fabrication facilities and leading scientists to further develop the QWIP technology from its current state to a commercial application. Rainbow, by issuing 2.5 million shares and providing $1.5 million (U.S.) that will be spent on research and development, will own a 40% interest in the Joint Venture. The remaining 60% will be owned by ViaSpace and Caltech. This Joint Venture will be directed by a committee which will consist of equal representation by both Rainbow and ViaSpace. The day to day operations will be managed by ViaSpace. Rainbow's current interest in its mineral properties will not be affected by this transaction. Rainbow is in the process of providing the Alberta Stock Exchange with the necessary due diligence information. Shares in the Capital stock of Rainbow will remain halted from trading until the Alberta Stock Exchange has reviewed this information and approved the details of this transaction. The Alberta Stock Exchange has neither approved nor disapproved the contents of this News Release. RAINBOW PETROLEUM CORP. Per: --------------------------------------- N. Cam Chehayeb, President and Director /For further information: Mr. Cam Chehayeb, President, (403) 426-4242/ 15:17 ET