Gyzer Capital acquires Manicouagan Resources in reverse takeover; Manicouagan Minerals listed on TSXV

On November 22, 2004, Gyzer Capital Inc. acquired Manicouagan Resources Inc., a Canadian mineral exploration company, for approximately $8 million in a reverse takeover transaction, in which Gyzer purchased all the issued and outstanding shares of Manicouagan. Manicouagan became a wholly owned subsidiary of Manicouagan Minerals Inc., the new name of Gyzer. Following a $5.5 million prospectus financing which was completed on December 23, 2004, the Corporation's common shares were listed on the TSX Venture Exchange under the symbol MAM.

Manicouagan Minerals was advised in this transaction by Martin Gagné and Ianny Xénopoulos of Fasken Martineau.