RAB Special Situations L.P.

Stealth Ventures Ltd.

April 08, 2005 14:53 ET

RAB Special Situations L.P./Stealth Ventures Ltd.-Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND STEALTH VENTURES LTD.

TSX VENTURE SYMBOL: SLV

APRIL 8, 2005 - 14:53 ET

RAB Special Situations L.P./Stealth Ventures
Ltd.-Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - April 8, 2005) - RAB Special
Situations L.P. ("Special Situations") announces that it has subscribed
for a total of 1,000,000 units (the "Units") of Stealth Ventures Ltd.
(TSX VENTURE:SLV) (the "Company"), at a price of Cdn.$0.55 per Unit (the
"Private Placement"). Each Unit consists of one (1) common share in the
share capital of the Company (a "Share") and one-half (1/2) of one (1)
transferable Share purchase warrant (a "Warrant"). Each one (1) whole
Warrant shall entitle Special Situations to purchase one (1) Share (a
"Warrant Share") at a price of Cdn.$0.75 per Warrant Share for a period
of twelve (12) months from the Closing. The transaction took place off
the market by way of private placement and closed on March 22, 2005.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 8.25% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of the Warrants) ("Partially Diluted
Basis").

Immediately after the Private Placement, Special Situations owned
2,250,000 Shares and 1,125,000 Warrants, representing approximately
17.94% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased securities for investment purposes only and
not with the purpose of influencing the control or direction of the
Company. Special Situations together with joint actors, if any, may,
subject to market conditions, make additional investments in or
dispositions of securities of the Company in the future, including
additional purchases of Shares. However, Special Situations and its
joint actors, if any, do not intend to acquire 20% or more of any class
of the outstanding voting or equity securities of the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RAB Special Situations L.P.
    Mr. Neil Warrender
    (44) 20-7389-7000
    (44) 20 7389 7054 (FAX)
    nw@rabcap.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.