VMS Vortex Metals Inc

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION TO CANADIAN INVESTORS ONLY

The Board of Directors of Brainhunter Inc. (TSX:BH) ("Brainhunter or the
Company") announced today that it has authorized the voluntary filing under the
Companies' Creditors Arrangement Act ("CCAA") for the Company and certain of its
principal subsidiaries seeking, among other things, a stay of proceedings
against the Company. This means that, with the supervision and protection of the
Court, Brainhunter will continue to operate normally while it engages in a
process to either sell its business or restructure its liabilities and
operations. As one of Canada's leading technical staffing companies, Brainhunter
is continuing all of its current operations during this restructuring process. 


Over the past months, Brainhunter, its Board of Directors (the "Board") and
financial advisors have conducted an extensive review of strategic alternatives
for addressing the Company's debt obligations. After thorough consideration of
all alternatives, the Board initiated this action in the best interests of the
Company's clients, contractors, employees, creditors and other stakeholders. 


Chairman of the Board Don McCreesh said today, "Brainhunter's success is rooted
in the strong relationships with our clients and contractors, and we have asked
the court to grant this order so that we may continue to deliver the high level
of service our clients have come to expect from us."


An important element of the filing is a Debtor in Possession ("DIP") interim
financing facility, provided by TD Bank. This financing commitment will ensure
sufficient liquidity for the continued engagement and compensation of
contractors and employees, and therefore uninterrupted service to Brainhunter's
valued clients. Further, the Company will be asking the Court to approve payment
of all pre-filing obligations to its contractors and for a charge on its assets
to further protect the contractors.


Brainhunter's Board of Directors has also received and accepted a 'Stalking
Horse Bid' from CEO Raj Singh, which has the support of the senior management
team. The Company will subsequently be asking the court to approve this bid as
part of a court-supervised bid process. The Stalking Horse Bid is effectively an
offer to acquire the business as a going concern. It will act as a reserve bid
against which other potential parties can also bid for the Company's assets or
offer to sponsor a restructuring plan. This ensures at least one viable and
expedited outcome from the restructuring process and the continuation of the
Company's business without disruption of service to its clients.


Brainhunter, like many Canadian companies, has been financially challenged by
the general economic downturn. The decision to file under the CCAA was taken
after considerable efforts to recapitalize the Company and reduce corporate
overhead. McCreesh added, "We regret that this could not be resolved outside the
scope of a Companies' Creditors Arrangement Act process. However, we believe
that a court-supervised process is the best course of action and will clear the
way to implement a long-term, viable solution." 


As part of the formal legal requirements of this restructuring, the Company has
proposed that Deloitte & Touche Inc. be appointed by the Court as Monitor to
provide oversight and supervise the CCAA process. 


Brainhunter specializes in the provision of staffing solutions (contingent
staffing, managed staffing, permanent staffing and staffing software solutions)
to major companies and governments in Canada and the United States. Currently,
the largest part of the business is providing IT and engineering staffing
consultants, on a contract basis, to major companies and government entities in
Canada. The Company also sells recruiting related software including applicant
tracking systems ("ATS") and vendor management software ("VMS"). Brainhunter
deploys over 1,500 contractors with an internal staff of over 160 personnel.
Operations are ISO 9001:2000 Certified.

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