CON-SPACE RAISES EQUITY

April 6, 2000

NEWS RELEASE NO. 00-007b
Trading Symbol CDNX: CCB
US SEC Exemption No. 82-3378

RICHMOND, BC - Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD., (CDNX: CCB) announced today that the company has appointed Canaccord Capital Corporation ("Canaccord") as its agent, to offer by way of a short form offering, to the public in British Columbia 1,000,000 units at a price of $0.60 per unit. Each unit consists of one common share and one transferable common share purchase warrant. Each two warrants are exercisable within a period of one year to purchase one additional common share at a price of $0.80.

Canaccord will receive a commission of 7.5%, payable in cash, and will receive agent's warrants entitling it to purchase 250,000 common shares at a price of $0.80 for a period of one year.

The company will receive net proceeds of $555,000 after payment of commissions and will use the funds as follows:

Additional marketing and manufacturing personnel
Specific marketing initiatives for new products
R&D and capital costs for molds
Additional Inventory
Cost of financing and reserve
Total

 

$125,000
125,000
50,000
125,000
130,000
$555,000
Please contact Bill Hodal (604 643-7529) or Jim Thomas (604 643-7316) at Canaccord for further information.

For more information, please call Shaheen Sidi, Controller, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. The CON-SPACE web site is located at http://www.con-space.com. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.

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