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Warrant Symbol - AVL.WT.A
Number  Trading - 3,375,000
Expiration Date - April 30 1997
Cusip - 05348K 20 4

Warrants called to trade news:
 
1996-04-29 16:09 MT - SMF Date Price Fixed
 
The company's SMF dated April 24 1996 has been filed with and accepted by the BCSC and the VSE.
 
Effective date:  April 26 1996
Offering date:  April 30 1996
Expiry date:  August 1 1996
Offering:  1,500,000 units. Each unit consisting of one share and two series A warrants
Unit price:  $1.52
Wt exercise price:  $1.52 per share to April 30 1997
Wt term:  Two series A warrants to purchase one share for one year
Agent:  Canaccord Capital
Agents' wt:  375,000 warrants exercisable to purchase one share
Agents' Wt exercise price:  $1.52 per share to April 30 1997
Agents' commission:  7.5%
 
Transfer agent:  Montreal Trust
Wt trading symbol:  AVL.WT.A
Wt security No:  876191
Wt Cusip No:  05348K 20 4
Unit security No:  840015

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