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Clemex Technologies Redeems Convertible Debentures

June 14, 2005

Clemex Technologies announces that its Board of Directors approved the redemption of half of the $500,000 debentures held by 3880095 Canada (Raffaele Gerbasi), at its Board meeting. Prior to the transaction, Clemex and 3880095 Canada Inc. agreed to modify the original debenture in order to allow such a partial redemption. Clemex redeemed 50 percent of the debenture for $262,500 representing a 5 percent premium over the original price.

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