Global Prospecting Ventures Inc (GPVN)

[mweco]

I called Matt today to ask him about the debenture. He stated that this was only debt financing and new shares will not be authorized. Stock shares were apart of the deal. However, a current large shareholder offered a percentage of his current shares to finalize the deal.

The money from the debenture will be for 3 purposes. The 3 purposes are for oil drilling, diamond exploration, and a small portion will be set aside for interest payments. The first financing deal will close within two weeks and monies will be available to fund diamond exploration in 45 to 60 days. Shaun is currently in the field preparing for a larger exploration program. By January, the company's mineral epxploration program will be well underway.

Matt stressed to me that the campany strategy has not changed. The oil program was a good investment opportunity. Profits from the oil investment will be re-invested in diamond exploration.