Exceptional Technologies Fund 5 (VCC) Inc.

January 19, 2006 16:39 ET

ExFund 5 Provides Update on Proposed Restructuring

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2006) - Exceptional Technologies Fund 5 (VCC) Inc. ("Ex Fund 5" or the "Company") (TSX VENTURE:XF) announces that the Company and Paradigm Environmental Technologies Inc. ("Paradigm") have mutually agreed not to pursue, on the timeline originally specified, a transaction whereby Ex Fund 5 had proposed to acquire Paradigm and restructure itself, as originally announced by the Company on June 20, 2005.

The Company intends to have a shareholders' meeting by June 30, 2006, and, if the Paradigm transaction does not proceed at all by that time, management will aim to put forward an alternate plan for shareholder consideration which may involve an acquisition of another company as a reverse takeover transaction or the de-listing and winding up of the Company without the completion of an RTO transaction. Both of those alternatives would involve the liquidation and/or distribution to shareholders of the portfolio assets of the Company.

The Company remains committed to achieving shareholder liquidity as early as practicable and in an orderly fashion, having regard to the Company's residual liabilities under the British Columbia Small Business Venture Capital Act.

Harry Jaako, Director

John McEwen, Director

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what the Company currently foresees.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Discovery Capital Corporation
    Harry Jaako
    (604) 683-3000 ext. 105
    Discovery Capital Corporation
    John McEwen
    (604) 683-3000 ext. 106
    Discovery Capital Corporation
    Charles Cook
    (604) 683-3000 ext. 102
    (604) 662-3457 (FAX)