small news release...
Lenbrook Corp. Purchases Shares of AirIQ Inc.
5/3/05
TORONTO, May 3, 2005 (Canada NewsWire via COMTEX) --
Lenbrook Corp. ("Lenbrook") announced that on May 2, 2005 they purchased 1,661,102 common shares of AirIQ Inc. ("AirIQ") (TSX: IQ) pursuant to a private placement offering conducted in accordance with the rules of the Toronto Stock Exchange. The 1,661,102 common shares purchased by Lenbrook represent approximately 1.37% of the issued and outstanding common shares of AirIQ. AirIQ announced the transaction on May 2, 2005.
Prior to the transaction, Lenbrook owned or exercised control over approximately 9.28% of the issued and outstanding common shares of AirIQ. As a result of the transaction, Lenbrook now owns 12,375,861 common shares, or approximately 10.23% of the issued and outstanding common shares of AirIQ.
The common shares of AirIQ were acquired in full satisfaction of the indebtedness of AirIQ to Lenbrook pursuant to a term loan agreement dated May 21, 2003.
Terry J. McCrae, Vice President, Corporate Development, Lenbrook Corp., 633 Granite Court, Pickering, ON, L1W 3K1, (905) 831-6333
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