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                                                                     EXHIBIT 4.8


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                              CONSULTING AGREEMENT

THIS AGREEMENT is made as of the 6th day of November, 2000.

BETWEEN:

                                   ARCTURUS FINANCIAL SERVICES CORPORATION,
                                   a Corporation incorporated under the laws
                                   of the Province of Ontario.

                                   (hereinafter referred to as the "Consultant")

                                   - and -

                                   EQUILAR CAPITAL CORPORATION,
                                   a Corporation incorporated under the
                                   laws of the Province of Ontario

                                   (hereinafter referred to as the "Company")

WHEREAS the Company wishes to employ the services of the Consultant in
accordance with the by-laws of the Company;

AND WHEREAS the parties hereto desire to set out the understanding reached
between them in a written agreement;

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration of the mutual
covenants and agreements herein contained and for other good and valuable
consideration (the receipt and sufficiency whereof is hereby acknowledged), the
parties hereto hereby agree with each other as follows:

1.00 TERM

1.01 This Agreement shall be for a three (3) year term and thereafter shall, in
the absence of notice of cancellation by one party to the other, be
automatically deemed to be renewed, on the same terms and conditions set out
herein, by the parties, for successive one (1) year terms.

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2.00  DUTIES

2.01 The Consultant shall provide technical and management consulting services
relating to the corporate finance activities of the Company, in general,
including: structure and execution of acquisitions and divestitures; business
and finance advice; analysis and negotiation of the terms and conditions
relating to underwriting and/or financing arrangements; and coordination of
promotional, marketing and investor identification efforts, as may from time to
time be prescribed by the Board of Directors of the Company (the "Consultant's
Services").

2.02  The Consultant shall comply with all lawful instructions and directions
given to it by the Board of Directors.

3.00  TIME AND ATTENTION

3.01  During the term of this Agreement, the Consultant shall devote significant
time and attention, whether through (at the Consultant's discretion) employees,
officers, agents or sub-contractors, to the performance of the Consulting
Services, as is deemed necessary by the parties in the circumstances from time
to time.

3.02  The Company acknowledges that the Consultant is free to pursue other
activities during the term hereof, subject to Article 8.0 herein, and is not
devoting its full time and energies to the Company.

4.00  FEE

4.01  During the term of this Agreement, the Consultant shall be paid a fee at
the rate of Thirty Thousand Dollars ($30,000) per annum. Such fee shall be paid
to the Consultant in equal monthly installments, in advance. At the option of
the Consultant, such fee may be paid in common shares in the capital stock of
the Company at the prevailing market rate. If the Consultant elects to receive
such common shares as payment, said payment shall be made in advance for the
ensuing year.

For the purposes of this Agreement, "market rate" shall mean the average closing
price of the common shares of the Company over the twenty (20) trading days
preceding the relevant date as determined under this sub-paragraph.

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5.00  EXPENSES

5.01  The Consultant shall be entitled to claim reimbursement for all reasonable
business expenses incurred by the Consultant in the course of its duties.

6.00  TERMINATION

6.01  This Agreement may only be terminated for legal cause, except as set out
below.

6.02  The Company may terminate this Agreement at any time, without cause, upon
providing not less than thirty (30) days' prior written notice, and by paying
to the Consultant on the termination date so set all monies due and owing to
the Consultant, together with a cash amount equal to one-half of all payments
which would otherwise accrue for the remaining period of the current term.

Such payments are made in lieu of any damage claim by the Consultant for such
early termination who, in consideration of receipt of same, hereby expressly
waives the right to make such a claim. The Company acknowledges that the
Consultant has expended significant time and expense in preparing itself to deal
with its duties under this Agreement, and that the payments contemplated hereby
are reasonable. Any such payments should be treated as liquidated damages of the
Consultant.

In the event that the Consultant elected to receive its fee payments in capital
stock in lieu of cash, as contemplated by sub-paragraph 4.01, it shall not be
required to return any such securities, and if the deemed value thereof exceeds
the amount otherwise due hereunder, the Consultant shall be entitled to retain
same in full satisfaction of such payments.

6.03  No early  termination of this  Agreement  pursuant to  sub-paragraph  6.01
or 6.02 shall serve to relieve the parties of their obligations under Articles
7.00, 8.00 or 9.00 hereof.

7.00     CONFIDENTIAL INFORMATION

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7.01  For the purposes of this Agreement, "Confidential Information" shall mean
all data and information (either oral or in a tangible form) that may be
disclosed by the Company, including but not limited to inventions, discoveries,
processes, and know-how; product information; research and development
information; information relating to actual and potential customers; financial
data and information; business plans; marketing materials and strategy,
information relating to details of operations, commercial relationships, or
negotiations of the Company; and any other information regarding the foregoing
that is not generally known to public or competitors of the Company and that the
Company discloses to the Consultant hereunder or that the Consultant obtains as
a result of an inspection of or visit to the Company's premises. Failure to
include a confidentiality notice on any materials disclosed to the Consultant
shall not give rise to an inference that the information disclosed is not
confidential.

7.02  For the purposes of this Agreement, "Confidential Information" shall also
mean all data and information (either oral or in tangible form) that may be
disclosed by the Consultant to the Company that was not expressly produced,
procured or otherwise acquired by the Consultant and provided to the Company
under the terms of this Agreement.

7.03  Confidential Information shall not include information that either party
can establish: was generally known to the public at the time of the disclosure
(other than as a result of a breach of this Agreement); was legally in the
possession of the relevant party at the time of disclosure, as evidenced by its
written records; was independently developed by the party, as evidenced by its
written records; was lawfully obtained from a third party owing no obligation of
confidentiality; or was later published or generally disclosed to the public.

7.04  The parties agree that during the term of this Agreement and following the
termination of the Agreement herein, it will not:

      (a)   disclose to anyone, except in the course of the relationship created
            hereunder, or

      (b)   use for its own purposes or for any purposes except those
            contemplated hereby

any Confidential Information. This restriction shall cease to apply to
information, which becomes available to the public generally otherwise than by
the Consultant's, or the Company's, as the case may be, default.

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7.05  Each party acknowledges that a breach or threatened breach by the other of
any provision of this Agreement will result in the non-breaching party suffering
irreparable harm, which cannot be calculated or fully or adequately compensated
by recovery of damages alone. Accordingly, the parties agree that, in addition
to any other relief or remedy to which the breached party becomes entitled, that
party shall be entitled to interim and permanent injunctive relief, specific
performance and other equitable remedies.

8.00  NON-COMPETITION

8.01 Unless the prior written consent of the Company is obtained, the Consultant
shall not, for so long as this Agreement or any renewal of this Agreement is in
effect, and for a period of one (1) year after the termination of this Agreement
or renewal of this Agreement, directly or indirectly in any manner whatsoever
including, without limitation, either individually, in partnership, jointly or
in conjunction with any other person or entity, or as employee, principal,
agent, director or shareholder of any other entity:

      (a)   carry on or be interested in, whether as a shareholder, investor,
            lender, licensee or otherwise, any business which competes in a
            material way with any business carried on by the Company or any of
            its subsidiaries; except that it may hold, for investment purposes
            only, up to five percent (5%) of the issued securities of any class
            of any company if the securities are listed and publicly-traded on a
            stock exchange; and

      (b)   be a consultant or an employee or a director or officer in any
            capacity in any business, which competes in a material way with any
            business, carried on by the Company, or any of its subsidiaries.

8.02  This non-competition covenant shall be restricted to the following
geographic locations:

      (a)   within North America.

8.03  It is understood by the parties that every provision, paragraph and
sub-paragraph and this Article 8 and every part thereof is hereby declared to be
separate and distinct and is intended to be

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severable. If any provision, paragraph or sub-paragraph of this Article 8 or any
part thereof is determined to be void or unenforceable in whole or in part by
any court of competent jurisdiction, it shall not be deemed to affect or impair
the validity or any other provision, paragraph or sub-paragraph of this Article
8 or any other part this Agreement herein.


9.00  NON-SOLICITATION

9.01  Neither party shall during this Agreement for so long as this Agreement or
any renewal of this Agreement is in effect, and for a period of one (1) year
after the termination of this Agreement or renewal of this Agreement, directly
or indirectly:

      (a)   attempt to solicit, entice away, engage or employ any person
            employed by the other, or any of its subsidiaries, at the date of
            termination or during the three (3) months immediately prior to
            termination; or

      (b)   procure that such a person be engaged or employed by any other
            business which competes in a material way with any business carried
            on by the other at the date of termination; or

      (c)   approach or attempt to solicit any of the sponsors, customers, or
            persons, firms or corporations that do business with the other, or
            its subsidiaries.

10.00 NOTICE

10.01 All notices, requests, demands or other communications (collectively,
"Notices") by the terms hereof required or permitted to be given by one party to
any other party, or to any other person shall be given in writing by personal
delivery or by registered mail, postage prepaid, or by facsimile transmission to
such other party as follows:

      (a)   To the Company:
            34 ALGONQUIN CRESCENT
            AURORA, ONTARIO

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            L4G 3E5
            FAX: (416) 860-1580


      (b)   To the Consultant:
            C/O 25 TORONTO STREET, SUITE 200
            TORONTO, ONTARIO
            M5C 2R1
            FAX: (416) 860-1580

or at such other address as may be given by such person to the other parties
hereto in writing from time to time.

All such Notices shall be deemed to have been received when delivered or
transmitted or, if mailed, 48 hours after 12:01 a.m. on the day following the
day of the mailing thereof. If any Notice shall have been mailed and if regular
mail service shall be interrupted by strikes or other irregularities, such
Notice shall be deemed to have been received 48 hours after 12:01 a.m. on the
day following the resumption of normal mail service, provided that during the
period that regular mail service shall be interrupted all Notices shall be given
by personal delivery or by facsimile transmission.

11.00 LEGAL ADVICE

11.01 Both parties acknowledge that James & Boyden may have acted for them in
the past but is not acting for either party in respect of this transaction, and
further acknowledge that James & Boyden has advised both parties to seek
independent legal advice in respect of this transaction or any transaction which
may result herefrom, all in accordance with the rules of the Law Society of
Upper Canada.

12.00 GOVERNING LAW

12.01 This Agreement shall be governed by and construed in accordance with the
laws of Ontario and the laws of Canada applicable therein.

13.00 ENTIRE AGREEMENT

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13.01 This Agreement constitutes the entire Agreement between the parties with
respect to all of the matters herein and its execution has not been induced by,
nor do any of the parties rely upon or regard as material, any representations
or writings whatever not incorporated herein and made a part hereof and may not
be amended or modified in any respect except by written instrument signed by the
parties hereto. Any schedules referred to herein are incorporated herein by
reference and form part of the Agreement.

14.00 ENUREMENT

14.01 The provisions of this Agreement shall enure to the benefit of and be
binding upon the administrators, successors and assigns of the Consultant and
the Company.

15.00 HEADINGS FOR CONVENIENCE ONLY

15.01 The division of this Agreement into articles and sections is for
convenience of reference only and shall not affect the interpretation or
construction of this Agreement.

IN WITNESS WHEREOF this Agreement has been executed by the parties hereto as of
the date first above written,

                                    ARCTURUS FINANCIAL SERVICES CORPORATION



                                    Per:_______________________________
                                                               A.S.O.
                                    I have the authority to bind the corporation


                                    EQUILAR CAPITAL CORPORATION



                                    Per:________________________________
                                                                A.S.O.
                                    I have the authority to bind the corporation