Canadian Hydro Issues Stock

June 25, 2002 [] On June 20, Canadian Hydro Developers, Inc. issued 583,334 flow-through common shares at CAN$3.00 (US$1.97) per share to an individual investor for proceeds to the Company of CAN$1.75 million (US$1.15 million). The company has received conditional listing approval from The Toronto Stock Exchange for the issuance of up to an additional 249,999 flow-through common shares on the same terms, which it may place within the next 30 days. The proceeds from this financing will be used to fund costs related to development projects and prospects that are eligible for Canadian Renewable and Conservation Expenses treatment, which will qualify as Canadian Exploration Expenses under the Income Tax Act (Canada).
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