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Gold/Mining/Energy : ORCANA RESOURCES -v-ocn /Hot MEXICAN PROPERTIES- -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (82)	6/7/1999 7:28:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 84

**NEWS RELEASE** Orcana to acquire a business-to-business e-solution company Orcana Resources Ltd OCN Shares issued 19,455,642 Jun 7 close $0.18 Mon 7 Jun 99 News Release TORONTO, ON, June 7 - Orcana Resources Limited has entered into an agreement whereby Orcana will purchase 11.67% of Stratsys Corporation ("Stratsys") for $500,000 with an option to purchase another 23.33% of Stratsys for $1 million and a further option to acquire all of the remaining shares of Stratsys all subject to regulatory approval. Stratsys is located in Toronto, employs 11 people and had revenues of over US$560,000 in 1998. Stratsys intends to increase revenue and employees dramatically over the next two years. Please see Stratsys' web page for further information at stratcorp.com. Stratsys' consults to all of Canada's major banks and has three major insurance companies as its clients. Stratsys' customers include leading financial institutions, telecommunications carriers, health care providers, high tech and manufacturing companies, large retail operations and government agencies in North America, and South East Asia. Orcana's management has conducted extensive research into the business-to-business market and expects Stratsys to become an industry leader. The acquisition of Stratsys represents a major strategic move by Orcana into the business to business e-commerce, internet field with a focus on legacy webifying solutions. The Legacy Transformation market is currently said to be in excess of US$2 Billion. Stratsys' main product, Flexible Interchange Transport System ("FITS") provides an e-commerce solution which allows internet communications protocol to be used to replace high-cost Value Added Networks ("VAN") for Electronic Data Interchange ("EDI") and a distributed architecture which eliminates bottlenecks typical in a centralized gateway architecture. Dr. Arnold Chao, Chairman and President of Stratsys stated that, "FITS is a low cost and time effective alternative to replacing legacy systems allowing organizations to protect their investments in their current installed computer technologies (80% solution for 10% of the cost)." He went on to say that, "this solution solves the problems of webifying the data contained in Legacy system mainframes and enables Legacy systems to conduct business over the Internet." Orcana is pleased to announce that subject to regulatory approval it has arranged for a private placement of 4,000,000 units at a price of $0.15 per unit for an aggregate of $600,000.00. Each unit consists of one common share and one-half warrant. One full warrant entitles the holder to purchase one treasury common share of the Company at an exercise price of $0.20 per share for one year. This transaction is subject to regulatory approval, Board approvals and shareholder approval. For further information please contact: John Tait, Secretary Orcana Resources Limited 416-364-2015 EMAIL: jtait@ibm.net Dr. Arnold Chao, President and CEO Stratsys Corporation 416-971-7640 (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com