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Magna Granted Final Approval for Change Of Business And Acquisition of PODbook

Thursday, August 02, 2001

Press release from the issuing company

Vancouver, British Columbia, Canada - July 31, 2001 Consolidated Magna Ventures Ltd. (“Magna”, symbol CMV:CDNX) is extremely pleased to announce that the Canadian Venture Exchange (CDNX) has granted Final Approval on the Company’s Change Of Business application. As such, Consolidated Magna Ventures Ltd. now becomes a ‘technology’ company and PODbook.com Ltd. (“PODbook”) becomes a wholly owned subsidiary of Magna.  The Company can now apply to the CDNX for a change of name and trading symbol to reflect the new business, but in the interim will continue to trade as Magna under the symbol “CMV”. Robert Archer, President of Magna stated that “we have now turned a major corner in the development of the Company and we feel that the outlook for PODbook will bring unprecedented success to our shareholders. We are fortunate to have this opportunity and we are very appreciative of the support shown by our sponsor, Wolverton Securities through this arduous process.”  Daniel Walters, CTO of PODbook was quoted as saying ”my partners and I are very pleased to have the final approval of the CDNX. As a public company, we are now better positioned to make PODbook a major player within the growing Print On Demand marketplace.”




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