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March 7, 1997
NEWS RELEASE NO. 97-006
Richmond, B C -- The Board of Directors of CON-SPACE COMMUNICATIONS LTD. (VSE:CCB), had announced on January 16, 1997, their intention to submit for regulatory approval for the issuance of bonus shares to Stella A. Ibbetson, Terence A. Ibbetson, Elaine C. Swanson and James L. Swanson in the amount of 9,146 Common Shares apiece for allowing their houses to be used as collateral, to the extent of $75,000 each, for the loan facility of $150,000 granted to the Company by the Bank of Montreal. The regulatory authorities have decided not to approve this submission and therefore the petition has been withdrawn.
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