Canguard Health Technologies Inc., a Vancouver, BritishColumbia, company developing drugs for diseases of thenervous system, announced that it has received C$600,000(U.S.$477,000) in a private placement from Ventures West IIICanada Limited Partnership.

The firm purchased 3,333,333 common shares and 3,333,333non-transferable common share purchase warrants, eachwarrant exercisable into one additional share of common stockat C18 cents (U.S.14 cents) per share for one year. All stockpurchased in this transaction is subject to a one-year tradingrestriction. Ventures West retains certain anti-dilution rights.

Canguard's stock is traded on the Vancouver stock exchangeunder the symbol CGD. -- Jennifer Van Brunt

(c) 1997 American Health Consultants. All rights reserved.

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