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William Resources Inc. Changes Name to William Multi-Tech Inc. William will continue to trade under the symbol WIM William Multi-Tech Inc., formerly William Resources Inc., ("William") (TSE:WIM) is pleased to announce that as of Friday August 4, 2000 the company began trading on The Toronto Stock Exchange under the new name William Multi-Tech Inc. William will continue to trade under the symbol WIM. On July 18, 2000 William announced the closing of previously announced transactions with C Sixty Inc. ("C Sixty") and LeadingEdge Payroll Group Inc. ("LeadingEdge") whereby William acquired a 40% interest in C Sixty and a 42% interest in LeadingEdge. C Sixty: C Sixty is a privately held-biopharmaceutical company whose business strategy is focused on the discovery, development, and the advancement of a new class of therapeutic drugs, diagnostics and medical devices based on the fullerene molecule, considered a "Platform Technology", with potential value for a large number of diverse applications in multibillion dollar markets. The company has adopted a virtual model for conducting its product development through established relationships with world-class institutions, thereby reducing costs, limiting dilution, and therefore increasing the potential return to shareholders. The company's technology is based on Nobel Prize award winning research and strategies in the biotechnology sector. LeadingEdge: As Canada's only multi-dimensional payroll company, LeadingEdge captures the entire payroll and Human Resources administration cycle, through a unique total outsourcing management approach. LeadingEdge also provides recruitment services, consulting, re-engineering, software selection and implementation support, education/training, research and subscription services. LeadingEdge continues to further develop its payroll/HR software system, web-based technologies and proprietary toolbox, primarily as they relate to payroll and HR administrative outsourcing. For more information visit the company's Web site at www.leadingedge-payroll.com. About William: William is focused on acting as an incubator for companies involved in the communications, biotechnology and other high-technology/Internet areas. William provides these companies with financing, strategic planning and management resources to aid in their expansion programs, and to assist them with their corporate development. William is in advanced discussions on other transactions and expects to announce further developments in the near future. The Toronto Stock Exchange has determined that William has changed the nature of its business and must meet all of the original listing requirements of the Exchange by December 31, 2000. If the Company fails to meet original listing requirements by the stated deadline, the Exchange may suspend trading in the Company's shares or require the Company to delist from the Exchange. Contacts: Reg Burden/Kam Gill Investor Relations 390 Bay Street Suite 2008 Toronto, Ontario M5H 2Y2 Tel:(416) 861-9500 Fax: (416) 861-8165 williammultitech.net | ||||||||||||
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