Goldray transfers to NEX Board, sells assets

Canadian architectural glass products manufacturer Goldray filed documentation with the TSX Venture Exchange (Canada“s venture capital marketplace) involving the disposition of substantially all of G…

Canadian architectural glass products manufacturer Goldray filed documentation with the TSX Venture Exchange (Canada“s venture capital marketplace) involving the disposition of substantially all of Goldray“s assets to Quick Draw Financial Corp. This disposition is part of the company“s proceedings under the bankruptcy and insolvency act. As part of the disposition, effective 14 November 2003, the company“s listing will transfer to the NEX (a separate board for companies that have fallen below the Venture Exchange“s listing requirements), Goldray“s tier classification will change from Tier 1 to the NEX, and the filing and service office will change from Vancouver, British Columbia, to the NEX. As of 14 November 2003, the company is subject to restriction on share issues and certain types of payments as set out in the NEX policies.