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Gold/Mining/Energy : TRELLIS CORP. -- Ignore unavailable to you. Want to Upgrade?

To: pete meyer who wrote (157)	11/20/1998 7:16:00 PM
From: Ken Hillcoff	Read Replies (2) \| Respond to of 180

NEWS RELEASE - November 18/98 The Company advises that no business has been transacted during 1998 and business opportunities in China have been abandoned. Accordingly, the Company has written off the investment in China. The Company has been advised that to reactivate and obtain a revocation of the cease trade order the Company must file an application for revocation accompanied by a business plan and evidence of sufficient working capital to carry out the proposed business plan. The Company intends to commence this process by filing an application for a partial revocation order to permit the 1 for 5 rollback approved at the last annual general meeting. The Company must also reduce its outstanding indebtedness and significant progress has been made in this regard since the invoking of the cease trade order in February 1996. As a result of funding debt payments and providing capital for essential operations, a Shareholder has provided financing to the Company of over $200,000. In addition to this obligation the Company has other debt remaining of approximately $125,000. including outstanding legal fees of $50,000. The Company is currently investigating two business opportunities and the financing necessary to carry out the respective business plans. The 1998 annual general meeting will be combined with the 1999 annual general meeting early in 1999. The Company will seek Shareholders approval of a reactivation plan at that time. The Company appreciates the continuing support expressed by Shareholders during this lengthy and debilitating process. On behalf of the Board Ken A Mowers, President