Diagem Inc.
TSX VENTURE : DGM

Diagem Inc.

August 04, 2005 11:21 ET

Diagem Inc: Announcement

MONTREAL, QUEBEC--(CCNMatthews - Aug. 4, 2005) - Diagem Inc. ("Diagem" or the "Company") (TSX VENTURE:DGM) wishes to advise that the March 31, 2005 unaudited Interim Consolidated Financial Statements and MD&A were revised and re-filed on SEDAR on August 4, 2005.

The re-filed financial statements were revised to include the expensing of the cost of stock options granted since July 1, 2002 with a restatement of the prior period. The effect of the revision was to increase the net loss for the nine-months ended March 31 by $233,600 in fiscal 2005 and by $47,250 in fiscal 2004. The opening deficit was increased by $562,511 for fiscal 2005 and by $195,284 for fiscal 2004 reflecting the full year effect of fiscal 2003 and 2004. Note disclosure regarding the Company's accounting policy for stock option expense and the MD&A were also updated to reflect the change in accounting policy.

For and on behalf of

DIAGEM INC.

"Mousseau Tremblay"

Chairman of the Board

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Contact Information

  • Diagem Inc.
    Paul Einarson
    CFO
    (514) 866-6001 ext. 241
    (514) 866-6193 (FAX)
    www.diagem.com