The Province from Vancouver, British Columbia, Canada • 25

THE PROVINCE, Wednesday, July 26, 1978 25 INVESTMENTS SMALL ACCOUNTING PRACTICE TO APP. $30,000 GROSS BOX HO. 3400 New exchange CDC tackles IBM game NORTHERN 3VH SASKATCHEWAN" URANIUM July 27th issue Thi ntw BOOM in unnium mining. Complete coverage of one of the world's great sources of uranium including exploration up of over 100 active companies. today only (25.00 for 52 weeks Available at better newsstends Cbe Hortbrn miner- Toronto, Canada M5A3P2 (418) 368-3481 urged MARLBOROUGH MALL 5021 Klngsway, Burnoby air-conditioned office space available in unite to ft.

per floor, Ground floor retail space also available. underground parking competitive rotes, vAV iwmmmm A.E.LKPAGE Hal Bell-lrvlng 885 Dunsmulr St. 483-3111 mmmwm employee AES, the CDC is purchasing all AES shares owned by Innocan Investments Ltd. of Montreal and a portion of shares owned by AES management. Innocan is a venture capital company in which the CDC holds a 37-per-cent interest.

Wordplex is to become a wholly-owned subsidiary of AES. To acquire Wordplex the CDC is purchasing its parent company Ventek International a wholly-owned subsidiary of Venturetek International Ltd. of Toronto. Venturetek, another venture capital company, is 32-per-cent-owned by the CDC. The acquisition of Ventek International Inc.

also gives the CDC a 57-percent interest in Ventek a British distribution firm. After the projected closing date of July 31, Wordplex will be sold to AES on the same terms as it was acquired by the CDC. Lanier Business Products Inc. of Atlanta will hold 36 per cent of the AES-Wordplex group, compared to 54 per cent for the CDC. The remaining 10 per cent will be held by members of AES and Wordplex management.

Under the new arrangement AES and Wordplex product lines will be marketed in Canada by AES and in the U.S. by Lanier. Both companies will continue with existing sales arrangements in Europe. Steel will remain as chairman and chief executive officer of the expanded company and Paul Van Alstyne continues as president of Wordplex. FOR LEASE FLOOR COMMERCIAL of Howe Hastings 9,000 sq.

ft. Hastings at Granville 2,000 sq. ft. located in the heart of the financial easy access to bus lines sea bus. D.

WARNYCA 683-3111 Lepage iSWIS'Si'TtW I i i 0 TONY HAMPSON lion if certain profit targets are met. Vancouver-based CDC, owned jointly by the federal government and private shareholders, is a holding company with interests in mining petrochemicals, oil and gas and health care. AES chairman Walter Steel said he is confident that factors such as the rising Japanese yen spell a bright future for employment in the Canadian electronics industry. Wordplex, with 200 employees, is the smaller of the two companies but has enjoyed a comparable growth rate since its founding four years ago. To acquire direct control of the PERFECT FOR NEGOTIATIONS OF ANY KIND.

HAG0TH JOINT VENTURE PARTNER REQUIRED For a itiottlfMtaurant dtvtl-opmtnt in northern community. Minimum $100,000 C. in place. Reply to: 688-0761 madison development corporation ltd. offers HILLINGTON COURT in prestigious West Edmonton, Alberta.

102 superb townhouse units, six years old. Proforma net cash flow before debt service $350,000.00. Projected yield from condo conversion is $1 million. Asking $3.95 million. Terms and Trades considered.

madison development corporation ltd. 306 Liberty Building 10506 Jasper Avenue EDMONTON, Alberta, TSJ2W9 Tel (403)4235353 a. e. WUHMMC Remember To Ask For Your Complimentary Garage Sale SIGNS When you advertise Your Sale with a -province PERSON TO PERSON CLASSIFIED AD (A) ELECTRONIC I round Subscribe 77 Rlr Attractive 13,000 sq. Excellent GR.

1. Corner 2. 71 4A Strategically district, The A the Life bidding adieu Canadian Press MONTREAL The Canada Development Corp. announced Tuesday that to spur Canada's presence in the growing field of electronic office equipment, it is acquiring direct control of AES Data Ltd. of Montreal and Word-plex Corp.

of Westlake Village in suburban Los Angeles. The two companies, which are to be merged, both manufacture devices called visual display text editors that some researchers predict will replace typewriters in the office of the future and speed routine office-work. These devices allow a typist to project a text, as it is being written, onto a TV-like cathode ray tube. This material can easily be edited before it is typed in final form by a high-speed printer or stored for future use. CDC president Tony Hampson said control of fast-growing AES and Word-plex will give the CDC a strong international presence in what is growing into a multi-billion-dollar industry and help meet a CDC commitment to invest heavily in secondary manufacturing.

Projected sales for the two companies are expected to total more than $70 million in 1978 arid well above $100 million in 1979. He estimated this makes them second worldwide. The giant in the field is International Business Machines of Armonk, N.Y. Hampson said the total price for both companies is $35 million plus additional payments of up to $25 mil- INSURANCE Standard Canadian Press MONTREAL Standard Life Assurance the Edinburgh-based company that sold insurance to Sir John A. MacDonald and other Fathers of Confederation, is leaving Canada" after 145 years in this country.

Manufacturers Life Insurance Co. of Toronto and Standard announced here Tuesday that they have reached an agreement to pass Standard's Canadian business to ManuLife. Both are mutual life insurance companies. Standard's assets in Canada total about $1.7 billion and its liabilities about $1.5 billion. The assets involved in the transaction are approximately $1.5 billion.

David Donald, general'manager and chief auditor of Standard Life, said his company was sorry to leave Canada but was abandoning all its operations outside the British Isles, partly because of differences in government regulations. Questioned by journalists, Donald said political developments in Canada obviously played a role, but the company had decided that to avoid unnecessary expense, it would not leave Montreal "unless we were driven out with pitchforks." Despite growing difficulty in drawing specialized staff to Montreal and uncertainties about language regulations, that point had not been reached, he stressed. Standard opened its first office outside Scotland at Quebec City in 1833. Its London branch did not open until 12 years later. Standard's Canadian operations were small at the end of the Second World War, but a vigorous expansion brought staff at its Canadian head office in Montreal to more than 500 and Businessman's Lie Protector PORTABLE VOICE STRESS ANALYZER DESIGNED FOR detection of stress deception in REAL-TIME, TAPED, BROADCAST OR TELEPHONE CONVERSATIONS.

YOUR LOCAL DEALER: AUTOMATED SECURITY SYSTEMS, LTD. 44 ROBSON VANCOUVER, B.C. V6B 2B5 (604)684-8616 tvt. Canadian Press TORONTO A provincial gov-' eminent sponsored study has call-s ed for the creation of a new ex- change in Ontario for trading junior speculative stocks to provide risk capital for junior mining opera-; tions. "This exchange would serve to provide the focus and attention of speculators both in Canada and 't- internationally on new junior issues," says the study by Natural Resource People Canada released Tuesday.

The study also proposes that gov- ernment regulations provide for disclosure of information but not protection for the investor, and that the Ontario Securities Commission monitor trading on the new ex-: change and also sponsor programs to educate the public on the risks and potential rewards of specula-I tive equity It also called for modification of underwriting agreements and said the current system of wide distribu- tion of prospectus information sheets on mining ventures should be abandoned because of the cost. The prospectus, instead, should be available only to interested parties who inquire. Canada has about 3,500 so-called junior mining companies which the report said were being denied ac- cess to capital in today's tough equity market. Junior mining usually refers to small exploration companies that trade on the over-' the-counter, or unlisted stock mar- ket. Natural is a Toronto-based, non-profit research organization financed largely by small resource companies with a membership of about 1,000.

It was commissioned by the Ontario government to conduct the study titled Financing of the Junior Mining Company in Ontario. The study said a new exchange could be set up in association with the Toronto Stock Exchange (TSE), or as a totally independent i computerized trading market. It appeared to favor an independ- ent exchange, however, saying a link with the TSE may be less cost- ly but would put the junior mining stocks in a secondary position. TSE members who control the exchange are primarily involved in senior se- curity financing "and are generally uninterested in a speculative mar- ket which would represent only a small fraction of their revenues A junior exchange associated with the TSE would be possible "only if new categories of member-ships were allowed which would permit some of the currently oper-i. ating broker-dealers access to the junior exchange." Because both Ontario and Quebec have imposed very strict rules on junior mine financing in recent years, most of this activity has been carried out on the Vancouver Stock Exchange.

Brian Graves, chairman of the VSE board of governors, said Tuesday the ex-V change would watch closely the J3T Ontario proposal. "But," he added, "I would be rather surprised to see this kind of exchange go through. I don't think a need for it has been demonstrator so long as we can continue to do our job here." LAUD WANTED l-For residential development, jr holding property with long term potential. All replies will le Investigated by serious jKiyer. Please call: R.H.

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GRAHAM BLDG. The Professional announces the Appointed R.I.(B.C), with Chairman. The Alien. Jay S. Miles Kinian, R.I.IB M.

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$89.95 its employees and agents elsewhere in Canada to 400. ManuLife president E. Sydney Jackson said formal ratification of the deal will take between six and nine months. He predicted full integration would take five years. "Barring unforeseen circumstances," the Montreal staff would not shrink, he said.

Jackson said the deal allows Manu-. Life to expand its Canadian base, particularly in Quebec and in the group pension field which Standard has specialized in. The company also wants to continue its expansion in the U.S. and other foreign markets. ManuLife, with pre-merger assets of about $3.7 billion, about $2 billion in Canada, has about 200,000 Canadian Delivery Available Modest Additional Charge rv'U (D) (B) OFFICE OR HOME DESK policyholders.

Standard has about Jackson said federal Finance Minister Jean Chretien and the federal superintendent of insurance have okayed the deal, negotiated since last February following an overture by ManuLife. Jackson said the matter has been discussed with Quebec Finance Minister Jacques Parizeau, "who has authorized me to say that he feels this whole matter has been quite properly handled." Parizeau had reacted angrily to a decision earlier this year by Sun Life Assurance Co. of Canada to move its head office to Toronto from Montreal. iC'Sel i fh Plif TOP SIZE STEEL CONSTRUCTION THROUGHOUT WALNUT LAMINATE TOP. 1 FILE DRAWER, 1 BOX DRAWER, COLOURS TAN OR BLACK WITH CHROME LEGS.

(COMES WITH LEGS OFF) FOR SALE CLUB FACILITIES 13,000 SQ.FT. SITE 3.5 AC. Catering-Restaurant-Lounge OR SPORTS COMPLEX Manfred Eck 464-1 281. Man. List $154.95 (c) FILE CABINETS WITH SLIGHT SCRATCHES AND DENTS FULL 24" DEPTH, LEGAL SIZE WITH LOCK 2 DRAWER Man.

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24Hrs. 6H4-yi2 THE REAL ESTATE INSTITUTE of BRITISH COLUMBIA DOUGLAS C. WATKINS i ii -i i (E) OFFICE CHAIR WITH CASTORS IDEAL FOR TYPING OR GENERAL OFFICE USE. PADDED VINYL BACK AND FABRIC SEAT, ADJUSTABLE FOR HEIGHT, COLOURS BLACK OR TANGER INE Man. List STEEL SHELVING UNIT 70" HIGH, 16" DEEP, 36" WIDE COMPLETE WITH 5 SHELVES, BRACES ETC.

COLOUR, GREY. Man. List $29.50 ALLEN Division of tbe Real Estate Institute of British Columbia election of its Bond of Governors for the 1978-flO term of office. Chairman is W. Graham Allen.

M.Sc., LL.B., A.R.I.C Douglas C. Watkins, F.R.I., C.P.M., R.1.IB as Vice other Governors are: County of Vancouver: W. Graham Collins, B.A.. F.R.I., I (B Colin C. Greer, R.I.(B.C); R.

CP II F.R.I., R.l.iB C.I; Ms. Aurla McGarvey, Carl Nilsen, A 1 R.I.'B.C County of Westminster: M.F. Don ion. F.R.I., R.I.(BC); Allan J. Sanderson, Douglas C.

Watkins; Yale County: Reginald W. Lupton, County: John O. Hicks. F.R I R.MB.C); Ms. 0.

F.R. R.MB.C). CaribooPrince Rupert County: Mar-I'? Kootenay County: A. I. (Tony) Weisbecker, R.I.

(B.C.). The Professional Division is dedicated to the furtherance of professional competence and integrity is the real estate industry. More than 1.150 members, who have received the designation MB.C.) have met electing standards of edocation and experience. CANADA BUSINESS CENTERS LTD. 7.