Update re: Commoditrade (AIM: CMM)

The following Update statement was issued by Commoditrade Inc. Corvus Capital Inc. has a 20.2% shareholding in Commoditrade Inc.

Commoditrade Inc.
(“Commoditrade” or “the Company”)

Update
The Company announced on 1 May 2007 that active discussions were continuing with a number of interested parties which may or may not lead to an offer for the Company. The Company confirms that these discussions are ongoing.

In addition and in parallel, the Company confirms that it is also in discussions with potential financial partners to secure additional capital for the Company, which will enable it to pursue a number of identified growth opportunities and other potential strategies to generate enhanced shareholder value. On the basis of the Company’s discussions to date with these parties as well as the interested parties referenced above, there can be no assurances that a transaction will ultimately be concluded.

Commenting, Graham Butt, Chief Executive Officer of Commoditrade said:

“While discussions with interested parties continue, we believe it is in the best interest of Commoditrade and its shareholders to concurrently pursue its strategy to conclude a transaction that will enhance the growth potential of the Company and at the same time generate significant shareholder value.”

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