Novel Equity Financing

Dimethaid Research Inc. announced on January 19, 2001 that it has entered into a private placement agreement with Acqua Wellington North American Equities Fund, Ltd. for equity financing covering the sale of up to $50 million of the companies’ shares, through draw down notices, over the next 13 months. This is a novel type of financing and in some respects is the first of its kind in Canada. Gary Solway and Sarah Lerchs of Torys represented Dimethaid. Acting for Acqua Wellington were Allan Bronstein and Paul Bachand of Aird & Berlis.