Stock Information

Artevo Corporation ("Artevo") (AEV) announces that on July 31, 2008 it closed on $1,645,000 of its previously announced Private Placement (the "Private Placement") for a total of $4,245,000. The Private Placement originally consisted of the issuance of up to $4,000,000 of convertible debentures of Power Play Art Ltd., a predecessor of Artevo (the "Artevo Debentures"), however, Artevo received TSX Venture approval to exceed that amount by up to 10%. The Artevo Debentures bear interest at a rate of 12% per annum payable quarterly, are repayable in full two years from the date of issue, and will automatically convert into common shares of Artevo (the "Common Shares") at a price of $0.50 per Common Share if the trading price of the Common Shares on the TSX Venture exceeds $1.00 for ten consecutive trading days, and are convertible into Common Shares at $0.50 per Common Share at the option of the holder at any time before maturity. The proceeds made available through the sale of Artevo Debentures will be used to initiate marketing strategies, enhance Artevo's web based technologies, evaluate potential opportunities for acquisition, establish a reserve for interest payments related to the Artevo Debentures for 12 months, and for working capital to fund ongoing operations of Artevo.