NEWS RELEASE FOR:
STRATEGEM CAPITAL CORPORATION.
VANCOUVER, BRITISH COLUMBIA – October 1, 2004 – Strategem Capital Corporation (“Strategem” or the “Company”) (TSX-V: SGE) held its Annual General Meeting on September 30, 2004. At the meeting, shareholders of the Company voted in favour of all initiatives, including one giving management the authority to distribute a dividend to shareholders.
The dividend could consist of cash or shares of common stock in the capital of publicly traded companies that the Company holds or a combination of the two. The directors of the Company will determine in their discretion whether a dividend will be distributed, in what amount and when.
Strategem recently announced that it intends to make a Normal Course Issuer Bid to purchase 195,344 common shares of the Company. The shares are being purchased for investment purposes, as management believes the Company’s shares to be under-valued at current market prices.
The share repurchase program will commence on October 1, 2004 and terminate on September 30, 2005. The extent to which the Company repurchases its shares and the timing of such purchases will depend upon market conditions and other corporate considerations.
About Strategem Capital
Strategem Capital Corporation is a publicly-traded merchant bank focused on the development of emerging companies with growth potential. The Company invests in debt and/or equity positions in these companies.
This release and prior releases are available on the Company’s Internet web site located at www.strategemcapital.com.
BY ORDER OF THE BOARD OF DIRECTORS
“Kenneth W. Morgan”
Kenneth W. Morgan, CA, CPA
President, CEO and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Not for dissemination in the United States