Calgary-based Solium Capital Inc. says it has received a letter of intent for the sale of its wholly owned subsidiary, Solium Capital Online Inc. to Gutsche Capital Corp., a company that shall be substantially owned by Sig Gutsche.

Gutsche Capital Corp. has offered $85,000 cash for all of the issued and outstanding common shares of Solium Capital Online and a non-exclusive license for the continued use of the online brokerage platform. Up to Sept. 30, 2001, Online had an accumulated deficit of just under $1 million.

“This transaction is a win-win situation for Solium and Gutsche Capital Corp.,” said John Kenny, president and CEO of Solium. “While Gutsche Capital Corp. will benefit from an unlimited IDA license in the jurisdictions of Alberta, BC, Saskatchewan, Manitoba, Ontario and Quebec, the transaction will allow Solium to focus on its core business without any disruption to its client base. Our corporate clients will continue to see a seamless application when their optionees exercise stock options through e-SOAP.”

Pending regulatory approval by the Canadian Venture Exchange and the Investment Dealers Association, the transaction is expected to close before the end of January.