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Gold/Mining/Energy : Consolidated Envirowaste-CWD.V -- Ignore unavailable to you. Want to Upgrade?

To: D.W. who wrote (32)	2/17/1999 1:21:00 PM
From: D.W.	Read Replies (1) \| Respond to of 34

FEBRUARY 16, 1999 Consolidated Envirowaste Amends Loan Agreement VANCOUVER, BRITISH COLUMBIA--The Company has agreed to amend its loan agreement with director and senior officer of the Company, announced January 5, 1999, to accommodate an additional advance of $86,000. As is the case with the initial advance of $414,000, the loan principal is repayable on demand. The loan will bear interest at the prime rate of the Royal Bank of Canada plus 3 1/2 percent per annum, payable monthly. The Company will put in place security in favour of the lender in the form of a charge on the assets of the Company and the guarantee its subsidiary, Answer Garden Products Ltd. The Answer Garden guarantee will be supported by a charge on its assets, including a mortgage over its Matsqui, British Columbia property. The loan proceeds will be used by the Company to meet the Company's near-term working capital requirements. The Company is continuing to explore various options to meet its long-term comprehensive credit requirements. Any new financing plan will likely include the payout or refinancing of the new demand loan. CONSOLIDATED ENVIROWASTE INDUSTRIES INC. Douglas R. Halward, President -30- FOR FURTHER INFORMATION PLEASE CONTACT: Consolidated Envirowaste Industries Inc. Douglas R. Halward President (604) 856-6836