News in Brief (cb)

Pacvest (VSE) is participating in a private placement made by International Interlake Industries (VSE). Pacvest will purchase 150,000 units of International Interlake at $1.25 per unit. Each unit consists of one common share and one non-transferable share purchase warrant to purchase an additional common share for a period of five years. The exercise price of warrants is $1.50 in the first year, escalating by 25 cents every year during the 5-year exercise period.