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Novicourt Inc. M&A Activity 2006

Mar 22, 2006

M&A Activity

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Item 1.	Name and Address of Company
	Novicourt Inc. 181 Bay Street Suite 200, BCE Place Toronto, Ontario M5J 2T3
Item 2.	Date of Material Change
	March 15, 2006
Item 3.	News Release
	A press release reporting the material change was issued by Novicourt Inc. on March 15, 2006, a copy of which is attached.
Item 4.	Summary of Material Change Falconbridge Limited, Novicourt Inc.’s (“Novicourt”) principal shareholder and parent company, has advised Novicourt that it intends to make an offer by way of a takeover bid for all the outstanding common shares of Novicourt that it does not already own. The proposed offer would be for a price of CDN$2.30 per Novicourt common share and subject to not less than 50% of the common shares of Novicourt not already owned by Falconbridge being tendered.
Item 5.	Full Description of Material Change
	Please see attached press release.
Item 6.	Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 Not applicable.
Item 7.	Omitted Information None.

For further information, please contact David Sandison, Vice President, at (416) 982-7023.

Item 9. Date of report March 21, 2006