Maxxcapp Corporation

Maxxcapp Corporation

June 24, 2005 20:40 ET

Maxxcapp Plans Debt Conversion

ABBOTSFORD, BRITISH COLUMBIA--(CCNMatthews - June 24, 2005) - Maxxcapp Corporation (TSX VENTURE:MXP) -

Maxxcapp Chief Financial Officer, Roger Kufske announced today that subject to regulatory approval, the company plans to settle up to $175,000 worth of liabilities and will issue 583,334 common shares at a deemed price of $0.30 per common share with up to 583,334 share purchase warrants.

Each share purchase warrant will be exercisable at $0.35 into one common share for a period of one year and at $0.45 into one common share for a period of two years.

This news release may contain forward-looking statements that are based on management's current expectations which are subject to known and unknown uncertainties and risks. This could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Maxxcapp is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

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

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