Wellington Financial Fund II

Clairvest Group Inc.

Clairvest Group Inc.

April 04, 2005 11:32 ET

Wellington Financial LP Provides an Additional CAD $4.25 Million Financing for CriticalControl Solutions Corp.


NEWS RELEASE TRANSMITTED BY

FOR: WELLINGTON FINANCIAL FUND II

AND CLAIRVEST GROUP INC.

TSX SYMBOL: CVG

APRIL 4, 2005 - 11:32 ET

Wellington Financial LP Provides an Additional CAD
$4.25 Million Financing for CriticalControl Solutions
Corp.

TORONTO, ONTARIO--(CCNMatthews - April 4, 2005) - Wellington Financial
Fund II ("Wellington"), a privately-held specialty finance firm,
announces the closing of a $4.25 million Series B debenture financing
for Calgary-based CriticalControl Solutions Corp. ("CriticalControl")
(TSX VENTURE:CCZ). Wellington closed a $2.7 million Series A financing
with CriticalControl in August 2004, a portion of which was utilized to
finance CriticalControl's acquisition of Valcura International in
October 2004.

CriticalControl provides proprietary software, integration, consulting
and document management services to a variety of domestic and
international clients. Key software clients include well-known North
American pipeline and petrochemical firms as well as large independent
oil and gas producers. As well, some of Canada's largest financial
institutions and various departments of the provincial governments of
Alberta and Saskatchewan rely on CriticalControl's document management
services.

"Wellington is pleased to continue to support CriticalControl's
acquisition program. The management team has delivered to our
satisfaction over the past eight months, showing good signs of
sustainable revenue growth as well as an ability to quickly integrate
the Valcura deal," said Mark McQueen, President and Chief Executive
Officer of Wellington Financial LP.

George Watson, Chief Executive Officer of CriticalControl, added: "We
are pleased to have the support of a strong and creative financial group
with the business vision to continue to assist us in the execution of
our long-term growth strategy and immediate goals."

About Wellington Financial LP -- "Umbrellas, Rain or Shine."

Founded in 2000, Wellington Financial LP is a privately-held $83 million
specialty finance bridge lending, term and venture debt firm, providing
debt financing for private and public companies in its chosen fields.
Wellington transactions are generally between $1 million and $10
million, but the fund has issued term sheets up to $30 million due to
its ability to syndicate transactions. Wellington clients vary in size,
sector and business model, but generally have current year revenue of at
least $5 million. Wellington is managed by a partnership controlled by
Fund management and Clairvest Group Inc. (TSX:CVG), who jointly have
contributed a large financial stake to Fund II. Wellington's limited
partners include several Canadian institutional investors, such as
pension funds, life insurance companies and money managers. Please visit
our website at www.wellingtonfund.com.

About CriticalControl Solutions Corp.

CriticalControl provides organizations better control over their mission
critical information. We build, operate and support applications which
gather, manage and disseminate information primarily in government and
the energy sector. Our imaging service bureau and outsourcing offering
is the front end document gathering and control service for numerous
government departments. We provide high end content and information
management expertise to our government and energy sector clients to
manage and securely share their critical information. Using our core
area of expertise, we have assembled industry leading information
control applications for the energy sector. These applications include
Ezy-Ops, a leading materials management application for the upstream oil
and gas sector and PipeWorks, an industry leading application for the
operation of pipelines around the world. For more information, please
visit www.criticalcontrol.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Wellington Financial Fund II
    Mark McQueen
    President & Chief Executive Officer
    (416) 925-2379 x239
    (416) 925-5753 (FAX)
    mmcqueen@wellingtonfund.com
    www.wellingtonfund.com
    or
    Wellington Financial Fund II
    Lana Reiken
    Chief Financial Officer
    (416) 925-9270
    (416) 925-5753 (FAX)