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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (794)	4/23/1999 3:19:00 PM
From: Link Lady	Respond to of 856

Hi Richard While going through news releases at CNW this caught my attention. May be intersting considering UIC deal with SOCO. newswire.ca Construction Begins on $11-million Petroleum Technology Research Centre (PTRC) REGINA, April 23 /CNW/ - The ground is broken for the Petroleum Technology Research Centre (PTRC). When completed in spring 2000, the $11-million centre will employ more than 50 scientists and undergraduate students working to enhance the production and value of Saskatchewan's oil resources. About 100 jobs will be created during the construction phase. Participating in the ground-breaking ceremony were Premier of Saskatchewan Roy Romanow, federal Natural Resources Minister Ralph Goodale, Saskatchewan Economic and Co-operative Development Minister Janice MacKinnon, University of Regina President Dr. David Barnard and PTRC Chair Frank Proto. During the ceremony, Minister Goodale, on behalf of Ron J. Duhamel, Secretary of State for Western Economic Diversification, and Minister MacKinnon presented Mr. Proto with a $3.5-million cheque, the first payment of $6 million in capital funding approved under the Canada/Saskatchewan Western Economic Partnership Agreement (WEPA). ''The next generation of technologies developed through the PTRC will provide enormous benefits,'' Premier Romanow said. ''The centre will create environmentally friendly technologies that Saskatchewan companies can use here and abroad to extract more oil. Its research will strengthen one of our most dynamic sectors, leading to more jobs in rural Saskatchewan. There will be more jobs for our young people at home, and new opportunities for our best and brightest minds.'' ''Not only does Regina benefit from the economic spinoff of job creation, the Province of Saskatchewan is positioned at the forefront of petroleum technology,'' said Minister Goodale. ''This is exactly the kind of project we envisioned when we approved funding under WEPA.'' The 60,800-sq.-ft. facility is located in the Regina Research Park, a development of the Saskatchewan Opportunities Corporation (SOCO), located immediately south of the university campus. The PTRC will be the second building to be constructed in Regina's fledgling research park. The building is being constructed to C-2000 standards to meet stringent criteria related to energy efficiency, environmental impact, indoor air quality and comfort targets. It will use one-third less energy than conventionally-built facilities. In addition to the capital funding under WEPA, five-year operating funding of $5 million has been committed by Natural Resources Canada and $1 million has been committed by Saskatchewan Energy and Mines. The provincial government is also contributing $7 million through funding to the Saskatchewan Research Council and up to $2.5 million through support from the new Saskatchewan Petroleum Research Incentive. Other partners in the facility are the Saskatchewan Research Council's Petroleum Research Group, the University of Regina's Petroleum Engineering Group and SOCO, which will construct and own the building and contribute $5 million in capital costs. ''The contribution the University of Regina is making to this project illustrates the key role education plays in building a stronger Saskatchewan,'' said Dr. Barnard. ''The partnerships coming together in this project will strengthen a Saskatchewan industry and will strengthen the education Saskatchewan students receive.'' The centre is run by an 11-member Board of Directors, chaired by retired Wascana Energy President Frank Proto. Six members of the board represent Saskatchewan's petroleum industry. ''Industry linkages hold the key to the PTRC's success and strong industry guidance and support will ensure that research activities have practical applications and ultimately provide significant economic benefits to the people of Saskatchewan,'' Frank Proto said. Federal funding for this initiative was provided for in the February 1999 federal budget and is therefore built into the existing fiscal framework. -30- For further information: John Embury, Press Secretary, Natural Resources Canada, (613) 996-2007; Joanne Mysak, Manager, Consultations, Marketing and Communications, Western Economic Diversification, (306) 975-5942; Irene Rau, Director of Corporate Affairs, Saskatchewan Opportunities Corporation, (306) 787-8576. NRCan's news releases and backgrounders are available on the Internet at nrcan.gc.ca. The following media backgrounder is also available on the Internet: (a) The Petroleum Technology Research Centre

To: Richard Saunders who wrote (794)	4/23/1999 3:29:00 PM
From: Link Lady	Read Replies (1) \| Respond to of 856

Thought I'd repost this from News Release of 11/03/98 newswire.ca 'The Saskatchewan Opportunities Corporation (SOCO) will provide $2 million in a combination of loan and debenture financing for the new operations. The loan will be for $1 million with a five year term, while the debenture of a further $1 million will be for a three year term, convertible into common stock of the Company at $1.00 per share. A 200,000 share bonus will be provided in consideration of the loan. SOCO will also be granted 500,000 warrants with an exercise price of $1.00 for a 2 year period. SOCO is a Crown corporation of the Government of Saskatchewan with a mandate to facilitate economic development in Saskatchewan through investment in viable business.'