Document:

ALTAIR NANOTECHNOLOGIES INC.
                STOCK PURCHASE, OPTION AND SUBSCRIPTION AGREEMENT

         THIS  STOCK   PURCHASE,   OPTION  AND   SUBSCRIPTION   AGREEMENT   (the
"Agreement")  is made and entered into as of  September 5, 2002,  by and between
Altair  Nanotechnologies  Inc.,  a  Canada  corporation  (the  "Company"),   and
Cranshire  Capital,  L.P  (the  "Investor").  In  consideration  of  the  mutual
covenants  set forth  herein,  and other good and  valuable  consideration,  the
Company and Investor hereby agree as follows:

1.       Purchase of Securities
         ----------------------

         1.1  Initial  Sale and  Issuance  of  Units.  Subject  to the terms and
conditions of this Agreement, the Investor shall purchase at the Initial Closing
(as defined below),  and the Company shall sell and issue to the Investor at the
Initial  Closing,  200,000  defined in  Section  1.3 below.  (Such  Units  shall
hereinafter be referred to as the "Initial Units").

         1.2  Purchase Price of the Units.  The purchase price for the each Unit
shall be $0.50 per Unit (the "Unit Price"), and the aggregate purchase price for
the Units to be purchased at any Closing (as defined below) shall be the product
of the  number  of  Units  subscribed  for  multiplied  by the Unit  Price  (the
"Purchase Price"). With respect to the Initial Closing, the Purchase Price shall
be  $100,000.  At each  Closing,  the  Purchase  Price  shall  be paid by  check
addressed to the Company at 230 South Rock Blvd,  Suite 21, Reno,  Nevada 89502,
or by wire transfer to the  Company's  general  account at Bank of America,  ABA
Routing   No.   122400724,   Account   No.   004961550420,   Reference:   Altair
Nanotechnologies Inc.

         1.3  Definition of Units.  For purposes of this Agreement,  each "Unit"
shall consist of the following:

              (a) one   common   share  of  the   Company   (each,   a  "Share";
                  collectively, "Shares");

              (b) one-half  Series  2002J  Warrant,  substantially  in the  form
                  attached to the Confidential Offering Summary dated August 28,
                  2002 (the "Summary") as Exhibit 1 (a "2002J Warrant"); and

              (c) one-half  Series  2002K  Warrant,  substantially  in the  form
                  attached to the Summary as Exhibit 2.

The 2002J  Warrants  and 2002K  Warrants  are  collectively  referred  to as the
"Warrants."  The Common  Shares  issuable  upon  exercise  of the  Warrants  are
hereinafter  referred to as the  "Warrant  Shares"  and,  collectively  with the
Shares included in the Units, the "Securities."

         1.4  Closing/Expiration of Offer.

              (a) The  closing of the offer and sale of the  Initial  Units (the
"Initial  Closing")  shall  take  place on the date both of the  following  have
occurred: (a) the Purchase Price with respect to the Initial Units has been paid
in full,  and (b) the Company and Investor  have executed  counterparts  to this
Agreement;  provided,  however,  if the Purchase Price for the Initial Units has
not been paid in full on or before  September  6, 2002  (subject to extension by
the  Company  for up to  one  week  in its  discretion),  this  Agreement  shall
terminate  and be null and void. At or before the Initial  Closing,  the Company
shall  deliver  to the  Investor  a stock  certificate  representing  the Shares
included in the Initial Units, the Warrants included in the Initial Units and an
executed  counterpart of this Agreement  against  delivery to the Company by the
Investor of the Purchase Price for the Initial Units and an executed counterpart
of this Agreement.

<PAGE>

              (b) The closing of the offer and sale of the Units  subject to the
Options  described in Section 1.5 below (each, a "Closing")  shall take place on
the date  specified  in the notice of exercise  with  respect  for such  Option,
provided  that such  date  shall not be later  than the  expiration  date of the
respective Option. At each Closing,  the Company shall deliver to the Investor a
stock certificate  representing the Shares included in the Units with respect to
which the Option has been exercised and the Warrants  included in the Units with
respect to which the Options has been  exercised  against the Purchase Price for
the Units with respect to which the Option has been exercised.

         1.5  Options to Purchase  Additional  Shares. The Company hereby grants
the Investor the following  options to purchase Common Shares (each an "Option";
collectively, the "Options"):

              (a) An Option to purchase on any date on or before  September  27,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this subsection (a) is not exercised on or before September
27,  2002,  such  Option and all other  Options  described  in Section 1.5 shall
(subject  to waiver by the  Company in writing)  immediately  and  automatically
expire and terminate.

              (b) An Option to  purchase  on any date on or before  October  30,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection  (b) is not exercised on or before October
30, 2002, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

              (c) An Option to  purchase on any date on or before  November  27,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection (c) is not exercised on or before November
27, 2002, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

              (d) An Option to  purchase on any date on or before  December  30,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection (d) is not exercised on or before December
30, 2002, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

         1.6  Notice of Option Exercises.  In order to exercise any Option,  the
Investor shall provide the Company with a written notice of exercise (a) stating
the Investor's intent to exercise the Option, and (b) specifying the date, which
shall be no fewer  than  three  Business  Days  after the date of the notice and
shall be on or before the expiration date of the respective Option, on which the
Investor  desires to  consummate  the purchase and sale of the Units  subject to
such Option.

         1.7  Equitable  Adjustment.  If the outstanding number of Common Shares
are divided  into a greater  number of shares,  the number of Units  purchasable
upon the exercise of each Option shall be proportionately increased and the Unit
Price shall be proportionately  reduced.  Conversely,  if the outstanding Common
Shares Stock are combined into a smaller number of Common Shares,  the number of
Units  purchasable  upon the  exercise of each Option  shall be  proportionately
reduced and the Unit Price shall be proportionately increased. The increases and

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<PAGE>

reductions  provided  for in this Section 1.7 shall be made with the intent and,
as nearly as  practicable,  the effect that neither the  percentage of the total
equity of the Company  obtainable  on exercise of each Option nor the  aggregate
price payable for such  percentage  shall be affected by any event  described in
this Section 1.7.

         1.8  Registration  of  Securities.  The Company agrees to file with the
SEC,  within 30 days of the  closing  of the  purchase  and sale of the  Initial
Units, a registration statement registering the re-sale, to the extent permitted
by  governing  law as a  re-sale,  all of the  Shares  and  the  Warrant  Shares
(including  those that may be received in  connection  with the  exercise of the
Options).  The Investor acknowledges that the Company makes no representation or
warranty that governing rules will permit the registration of the re-sale of the
Warrant Shares  issuable upon the exercise of Warrants  received after effective
date of the registration  statement. If the Company determines that registration
of the re-sale of the common  shares  issuable  upon the  exercise of any of the
Warrants  acquired under this Agreement is not permitted,  the Company agrees to
amend such Warrants to add a "cashless exercise" provision, substantially in the
following form:

         "This  Warrant  shall  also be  exercisable  by  means  of a  "cashless
         exercise"   in  which  the  Holder  shall  be  entitled  to  receive  a
         certificate  for the number of  Warrant  Shares  equal to the  quotient
         obtained by dividing [(A-B) (X)] by (A), where:

                           (A) = the average of the high and low trading  prices
                           per  share  of  Common   Stock  on  the  Trading  Day
                           preceding  the date of such election on the Principal
                           Market;

                           (B) =  the Exercise Price of this Warrant; and

                           (X) = the  number of  Warrant  Shares  issuable  upon
                           exercise of this Warrant in accordance with the terms
                           of this Warrant and the Notice of Exercise."

The Company shall use reasonably efforts to cause such registration statement to
become effective as soon as practicable following its filing with the SEC.

         2.   Representations and Warranties of the Company.  The Company hereby
represents and warrants to the Investor as of the date of this Agreement (or, if
an different date is stated in such representation and warranty as of such date)
as follows:

         2.1  Due Authorization. All corporate action on the part of the Company
necessary for the authorization,  execution and delivery of this Agreement,  the
performance of all obligations of the Company hereunder,  and the authorization,
issuance (or  reservation  for issuance) and delivery of the Securities has been
taken or will be taken  prior to Closing,  and this  Agreement  constitutes  the
valid and legally binding  obligation of the Company,  enforceable in accordance
with its  respective  terms subject to applicable  bankruptcy,  insolvency,  and
other  similar laws  affecting  creditors'  rights,  and rules of law  governing
specific performance.

        2.2   Corporate  Organization and Other Related Matters.  The Company is
duly organized,  validly existing and in good standing under the Canada Business
Corporations Act. The Company has full corporate power and authority to carry on
its business as such business is now being  conducted and to own the  properties
and assets it now owns. The Company is duly  qualified to transact  business and
is in good  standing  in each  jurisdiction  in which the  failure to so qualify
would have a material adverse effect on its business or properties.  The Company
has full corporate  power and authority to enter into this  Agreement,  to issue
the Securities and to consummate the transactions contemplated hereby

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<PAGE>

         2.3  Governmental   Consents.   No   consent,    approval,   order   or
authorization of, or registration,  qualification,  designation,  declaration or
filing with, any federal,  state or local governmental  authority on the part of
the Company is required in connection with the  consummation of the transactions
contemplated by this Agreement,  except for (i)  qualifications or filings under
the  Securities  Act of  1933,  as  amended  (the  "Securities  Act"),  and  the
regulations  thereunder and (iii)  qualification  or filings  required under all
other  applicable  federal and state securities laws and stock exchange or stock
quotation  service  regulations  as may  be  required  in  connection  with  the
transactions contemplated by this Agreement.

         2.4  Valid Issuance of Securities.  When issued,  sold and delivered in
accordance  with the terms hereof,  the Shares will be duly and validly  issued,
fully-paid and nonassessable. When issued, sold and delivered in accordance with
the terms  hereof,  the Warrants  will be duly and validly  issued.  The Warrant
Shares have been duly and validly authorized and reserved for issuance and, upon
issuance in accordance  with the terms of the respective  Warrant,  will be duly
and validly issued fully-paid and nonassessable.

         2.5  Litigation.  There  is  no  action,  proceeding  or  investigation
pending or, to the  knowledge  of the Company,  threatened  that  questions  the
validity  of this  Agreement  or the  right of the  Company  to enter  into this
Agreement,  or that would  have,  either  individually  or in the  aggregate,  a
material  adverse  effect on the  business,  properties,  prospects or financial
condition of the Company. There is no judgment,  decree or order of any court in
effect  against the  Company,  and the Company is not in default with respect to
any order of any  governmental  authority  to which the Company is a party or by
which the Company is bound.

         2.6  SEC  Filings.  The  Company  has filed all  reports,  registration
statements,  forms  and other  documents  that it is  required  to file with the
Securities  and Exchange  Commission  (the "SEC") or any exchange on which it is
traded or reporting  service  through  which any of its  securities  are quoted,
including  without  limitation all filings  required by the Securities  Act, any
rules promulgated  thereunder,  the Securities  Exchange Act of 1934, as amended
(the "Exchange Act"), and any rules promulgated thereunder.

         3.   Representations  and  Warranties  of the  Investor.  The  Investor
hereby represents and warrants to the Company that:

         3.1  Authorization. This Agreement constitutes the Investor's valid and
legally binding obligation,  enforceable in accordance with its terms subject to
applicable bankruptcy,  insolvency,  and other similar laws affecting creditors'
rights,  and rules of law governing specific  performance,  and the Investor has
full power and authority to enter into this Agreement.

         3.2  Representations  Not Made by Company.  The Investor represents and
affirms  that  none of the  following  information  has ever  been  represented,
guaranteed or warranted to the  Investor,  expressly or by  implication,  by any
person:  (i) the  approximate  or exact length of time that the Investor will be
required to remain a security  holder of the  Company;  (ii) the  percentage  of
profit and/or amount of or type of consideration, profit or loss to be realized,
if any, as a result of an  investment in the Company;  or (iii) the  possibility
that the past  performance  or  experience  on the  part of the  Company  or any
affiliate, or any officer,  director,  employee or agent of the foregoing, might
in any way  indicate or predict the results of  ownership of any Security or the
potential success of the Company's operations.

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<PAGE>

         3.3  Purchase for Own Account.  The Investor is the sole and true party
in  interest,  is  acquiring  the  Securities  for  his/her/its  own account for
investment,  is not  purchasing the Securities for hereby for the benefit of any
other person, and has no present intention of holding or managing the Securities
with others or of selling, distributing or otherwise disposing of any portion of
the  Securities.  The Investor (i) if an individual,  is a citizen of the United
States,  is at least 21 years of age, and is a bona fide  permanent  resident of
and is  domiciled  in the  state  set forth  below  the  Investor's  name on the
signature page hereof, (ii) if an entity, is duly organized and in good standing
in its  jurisdiction of organization  and has its principal place of business in
the state set forth below the Investor's name on the signature page hereof.

         3.4  Disclosure and Review of  Information.  The Investor  acknowledges
and  represents  that he/it has received and reviewed a copy of the Summary.  In
addition,  the Investors  acknowledges and represents that the Investor has been
given a reasonable opportunity to review all documents, books and records of the
Company pertaining to this investment, and has been supplied with all additional
information concerning the Company and the Securities that has been requested by
the Investor,  has had a reasonable  opportunity to ask questions of and receive
answers from the Company or its representatives  concerning this investment, and
that all such  questions  have been  answered  to the full  satisfaction  of the
Investor.  The Investor has received,  and acknowledges that he/it is receiving,
no  representations,  written  or  oral,  from  the  Company  or  its  officers,
directors,  employees,  attorneys or agents  other than those  contained in this
Agreement  and  the  Summary.   In  making  his/her  decision  to  purchase  the
Securities,  the Investor has relied solely upon its review of the Summary, this
Agreement,  and  independent  investigations  made by it or its  representatives
without assistance of the Company.

         3.5  Speculative  Investment.  The Investor  understands that (i) he/it
must  bear  the  economic  risk  of  the  investment  in the  Securities  for an
indefinite  period of time  because the  Shares,  the  Warrants  and the Warrant
Shares have not been registered  under the Securities Act or qualified under the
Securities Act or the securities laws of any other jurisdiction and (ii) his/its
investment in the Company represented by the Securities is highly speculative in
nature and is subject to a high degree of risk of loss in whole or in part.  The
Investor has adequate means of providing for his/her  current needs and possible
contingencies,  and is able to bear the high  degree  of  economic  risk of this
investment,  including, but not limited to, the possibility of the complete loss
of the  Investor's  entire  investment  and the limited  transferability  of the
Securities, which may make the liquidation of this investment impossible for the
indefinite future.

         3.6  Accredited   Investor  Status.  The  Investor  is  an  "accredited
investor"  within the meaning of Rule 501(a)  promulgated  under the  Securities
Act, in that Investor (a) is a natural person (i) whose individual net worth, or
joint net worth with his spouse,  presently exceeds $1,000,000,  or (ii) who had
individual net income in excess of $200,000 in each of the two most recent years
or joint income with his spouse in excess of $300,000 in each of those years and
has a  reasonable  expectation  of reach that same  income  level in the current
year,  or (b) is an  entity  in  which  all of the  equity  owners  satisfy  the
definition of accredited investor set forth in subsection (a).

         3.7  Investment Experience.  The Investor has experience as an investor
in  securities  and  acknowledges  that it can  bear  the  economic  risk of its
investment in the Securities.  By reason of the Investor's business or financial
experience or the business or financial experience of its professional  advisors
who are  unaffiliated  with and who are not  compensated  by the  Company or any
affiliate or selling agent of the Company, directly or indirectly,  the Investor
has the capacity to protect its own interests in connection with its purchase of
the Securities. The Investor has the financial capacity to bear the risk of this
investment  and has received from the Company all  information  it has requested
and  considers  necessary or  appropriate  for deciding  whether to purchase the
Securities.  If an entity,  the Investor has not been  organized  solely for the
purpose of acquiring the Securities.

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<PAGE>

         3.8  Restricted  Securities.  The Investor understands that the Shares,
the  Warrants  and (if issued) the  Warrant  Shares are and will be  "restricted
securities"  under the  Securities  Act inasmuch as they are being acquired from
the Company in a transaction not involving a public  offering,  and that,  under
the Securities Act and applicable regulations thereunder, such securities may be
resold without  registration  under the  Securities Act only in certain  limited
circumstances.  In this  connection,  the  Investor  represents  that  he/it  is
familiar with Rule 144  promulgated  under the  Securities  Act, as presently in
effect,  and  understands  the resale  limitations  imposed  thereby  and by the
Securities  Act.  The Investor  further  confirms and agrees that the Company is
under no obligation  to register the re-sale of the Shares,  the Warrants or the
Warrant Shares under the Securities Act or any state securities laws.

         3.9  Legends. The Investor understands that the certificates evidencing
the Shares,  the Warrants and the Warrant  Shares will bear the legend set forth
below,  together with any other legends  required by the laws of the Province of
Ontario and any other state or province with jurisdiction:

                  THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED,  OR QUALIFIED UNDER  APPLICABLE STATE
                  SECURITIES  LAWS AND HAVE BEEN TAKEN FOR  INVESTMENT  PURPOSES
                  ONLY AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY
                  DISTRIBUTION  THEREOF.  THESE  SECURITIES  MAY  NOT BE SOLD OR
                  OTHERWISE TRANSFERRED UNLESS A REGISTRATION STAEMENT UNDER THE
                  SECURITIES ACT OF 1933, AS AMENDED,  IS IN EFFECT WITH RESPECT
                  TO SUCH  SECURITIES  OR THE COMPANY HAS RECEIVED AN OPINION IN
                  FORM AND SUBSTANCE  SATISFACTORY TO THE COMPANY PROVIDING THAT
                  AN  EXEMPTION  FROM  THE  REGISTRATION   REQUIREMENTS  OF  THE
                  SECURITIES ACT OF 1933, AS AMENDED, IS AVAILABLE.

The legend set forth above shall be removed by the Company from any  certificate
evidencing  any of the  Securities  only (i) upon  receipt by the  Company of an
opinion in form and substance  satisfactory  to the Company that such legend may
be removed  pursuant to Rule 144  promulgated  under the Securities Act, or (ii)
upon confirmation  that a registration  statement under the Securities Act is at
that time in effect with respect to the legended Security and that such transfer
will not jeopardize the exemption or exemptions  from  registration  pursuant to
which the respective Security was issued.

         3.10 Indemnification.   The  Investor   acknowledges   that   he/she/it
understands  the  meaning  and legal  consequences  of the  representations  and
warranties  set forth in Section 3 hereof and that the Company and the officers,
directors,  employees  and agents of the Company  have relied and will rely upon
such representations and warranties. The Investor hereby agrees to indemnify and
hold  harmless  the  Company  and each of its  respective  officers,  directors,
employees  and  agents  from  and  against  any and  all  loss,  claim,  damage,
liability,  cost or expense (including  attorney's fees),  joint or several,  to
which any such  person may  become  subject  due to or  arising  out of: (i) any
breach  by the  Investor  of any  such  representation  or  warranty;  (ii)  any
inaccuracy in the  representations  and warranties  hereinabove set forth; (iii)
the  disposition  of any of the  Securities  by  the  Investor  contrary  to the
foregoing representations and warranties; and (iv) any action, suit, proceeding,
demand,  assessment or judgment  incident to or based upon any of the matters so
indemnified against.  Notwithstanding the foregoing, however, no representation,
warranty,  acknowledgement or agreement made herein by the Investor shall in any
manner be deemed to  constitute a waiver of any rights  granted to him/her under
federal or state securities laws.

         4.   Miscellaneous.

         4.1  Entire Agreement.  This Agreement,  together with its exhibits and
schedules,  constitute the entire contract  between the Company and the Investor
relative to the purchase and sale of the  Securities  and  supersede any and all
prior  or  contemporaneous  oral  or  written  agreements,   understandings  and
discussions with respect thereto.

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<PAGE>

         4.2  Expenses.  Each of the Company and the Investor  will bear his/its
own  legal and other  fees and  expenses  in  connection  with the  transactions
contemplated in this Agreement.

         4.3  Governing Law; Consent to Jurisdiction  and Venue.  This Agreement
shall be governed by and construed in  accordance  with the laws of the State of
Nevada. The Company and the Investor hereby irrevocably consent to the exclusive
jurisdiction  and venue of State and  federal  courts  within  the city of Reno,
Nevada for any dispute arising out of this Agreement.

         4.4  Counterparts.  This  Agreement  may be  executed  in  two or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

         4.5  Headings.  The headings of the Sections of this  Agreement are for
convenience  and shall not by themselves  determine the  interpretation  of this
Agreement.

         4.6  Notices. Any notice required or permitted hereunder shall be given
in writing and shall be  conclusively  deemed  effectively  given upon  personal
delivery,  on the date of receipt if sent by  telecopier  or overnight  courier,
charges  prepaid,  or five days  after  deposit in the United  States  mail,  by
registered or certified mail, postage prepaid,  addressed (a) if to the Company,
as set forth below the Company's name on the signature  page of this  Agreement,
and (b) if to the  Investor,  at the  Investor's  address as set forth below the
Investor's  name  on the  signature  page of this  Agreement,  or at such  other
address as the Company or the Investor may  designate by ten (10) days'  advance
written notice to the Investor or the Company, respectively.

         4.7  Survival of Representations  and Warranties.  The  representations
and  warranties of the parties  contained in or made pursuant to this  Agreement
shall  survive  the  execution  and  delivery  of this  Agreement  and  Closing;
provided,  however, that such representations and warranties are only made as of
the date of such execution and delivery and as of such Closing.

         4.8  Amendments. Any term or provision of this Agreement may be amended
and the observance of any term, condition, or provision of this Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively)  by a written  instrument  signed by the  Company  and  Investors
purchasing a majority of the Shares being purchased hereunder.

         4.9  Severability. If one or more provisions of this Agreement are held
to be unenforceable  under applicable law, such  provision(s)  shall be excluded
from this Agreement and the balance of this Agreement shall be interpreted as if
such provision  were excluded and shall be  enforceable  in accordance  with its
terms.

         4.10 Acknowledgement as to Counsel.  The parties  acknowledge and agree
that  Stoel  Rives LLP has  prepared  this  Agreement  and the  other  documents
contemplated hereby as counsel to the Company and not as counsel to the Investor
and that the Investor is entitled to retain his or its own counsel at his or its
own expense.

               [intentionally left blank; signature page follows]

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<PAGE>

         IN WITNESS  WHEREOF,  the parties  hereto have  executed or caused this
Stock Purchase,  Option and Subscription  Agreement to be executed by their duly
authorized representatives as of the date first written above.

"Company"

         ALTAIR NANOTECHNOLOGIES INC.,
         a Canada corporation

         By:/s/ Ed Dickinson
            ---------------------------------------------
                Ed Dickinson, its Chief Financial Officer

         Address:
         1725 Sheridan Avenue, Suite 140
         Cody, Wyoming  82414
         Facsimile: (307) 587-8357

"Investor"

         Cranshire Capital, L.P.
         ----------------------------------
         Print Name

         /s/ Mitch Kopin
         ----------------------------------
         Sign Name

         Address:

         666 Dundee Road, Suite 1901
         Northbrook, IL  60062

         Name in which Shares are is to be  registered  if  different  from that
         above:___________________________________Exhibit 10.5

                          ALTAIR NANOTECHNOLOGIES INC.
                STOCK PURCHASE, OPTION AND SUBSCRIPTION AGREEMENT

         THIS  STOCK   PURCHASE,   OPTION  AND   SUBSCRIPTION   AGREEMENT   (the
"Agreement")  is made and  entered  into as of October 9, 2002,  by and  between
Altair  Nanotechnologies  Inc., a Canada  corporation (the  "Company"),  and the
undersigned investor (the "Investor").  In consideration of the mutual covenants
set forth  herein,  and other good and valuable  consideration,  the Company and
Investor hereby agree as follows:

         1.   Purchase of Securities

         1.1  Initial  Sale and  Issuance  of  Units.  Subject  to the terms and
conditions of this Agreement, the Investor shall purchase at the Initial Closing
(as defined below),  and the Company shall sell and issue to the Investor at the
Initial Closing, the number of Units (as defined in Section 1.3 below) specified
on the signature  page hereof.  (Such Units shall  hereinafter be referred to as
the "Initial Units").

         1.2  Purchase  Price of the  Units.  The  purchase  price for each Unit
shall be $0.75 per Unit (the "Unit Price"), and the aggregate purchase price for
the Units to be purchased at any Closing (as defined below) shall be the product
of the  number  of  Units  subscribed  for  multiplied  by the Unit  Price  (the
"Purchase Price"). With respect to the Initial Closing, the Purchase Price shall
be as specified on the  signature  page hereof.  At each  Closing,  the Purchase
Price shall be paid by check  addressed to the Company at 204 Edison Way,  Reno,
Nevada 89502,  or by wire transfer to the Company's  general  account at Bank of
America, ABA Routing No. 122400724, Account No. 004961550420,  Reference: Altair
Nanotechnologies Inc.

         1.3  Definition of Units.  For purposes of this Agreement,  each "Unit"
shall consist of the following:

              (a)  one  common   share  of  the   Company   (each,   a  "Share";
                   collectively, "Shares");

              (b)  one-half  Series  2002J  Warrant,  substantially  in the form
                   attached to the  Confidential  Offering Summary dated October
                   4, 2002 (the "Summary") as Exhibit 1 (a "2002J Warrant"); and

              (c)  one-half  Series  2002L  Warrant,  substantially  in the form
                   attached to the Summary as Exhibit 2.

The 2002J  Warrants  and 2002L  Warrants  are  collectively  referred  to as the
"Warrants."  The Common  Shares  issuable  upon  exercise  of the  Warrants  are
hereinafter  referred to as the  "Warrant  Shares"  and,  collectively  with the
Shares included in the Units, the "Securities."

         1.4  Closing/Expiration of Offer.

              (a) The  closing of the offer and sale of the  Initial  Units (the
"Initial  Closing")  shall  take  place on the date both of the  following  have
occurred: (a) the Purchase Price with respect to the Initial Units has been paid
in full,  and (b) the Company and Investor  have executed  counterparts  to this
Agreement;  provided,  however,  if the Purchase Price for the Initial Units has
not been paid in full on or before  October 7, 2002 (subject to extension by the
Company for up to one week in its  discretion),  this Agreement  shall terminate
and be null and void.  At or before  the  Initial  Closing,  the  Company  shall
deliver to the Investor a stock certificate  representing the Shares included in
the Initial  Units,  the Warrants  included in the Initial Units and an executed
counterpart of this Agreement against delivery to the Company by the Investor of
the Purchase  Price for the Initial  Units and an executed  counterpart  of this
Agreement.

<PAGE>

              (b) The closing of the offer and sale of the Units  subject to the
Options  described in Section 1.5 below (each, a "Closing")  shall take place on
the date  specified  in the notice of exercise  with  respect  for such  Option,
provided  that such  date  shall not be later  than the  expiration  date of the
respective Option. At each Closing,  the Company shall deliver to the Investor a
stock certificate  representing the Shares included in the Units with respect to
which the Option has been exercised and the Warrants  included in the Units with
respect to which the Option has been  exercised  against the Purchase  Price for
the Units with respect to which the Option has been exercised.

         1.5  Options to Purchase  Additional  Shares. The Company hereby grants
the Investor the following  options to purchase Common Shares (each an "Option";
collectively, the "Options"):

              (a) An Option to  purchase on any date on or before  November  15,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection (a) is not exercised on or before November
15,  2002,  such  Option and all other  Options  described  in Section 1.5 shall
(subject  to waiver by the  Company in writing)  immediately  and  automatically
expire and terminate.

              (b) An Option to  purchase on any date on or before  December  15,
2002 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection (b) is not exercised on or before December
15, 2002, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

              (c) An Option to  purchase  on any date on or before  January  15,
2003 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection  (c) is not exercised on or before January
15, 2003, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

              (d) An Option to  purchase on any date on or before  February  15,
2003 all,  but not less than all,  of a number of Units  equal to the  number of
Initial  Units at a  purchase  price per Unit  equal to the Unit  Price.  If the
Option  described in this  subsection (d) is not exercised on or before February
15, 2003, such Option and all other Options described in Section 1.5 and not yet
exercised  shall (subject to waiver by the Company in writing in its discretion)
immediately and automatically expire and terminate.

         1.6  Notice of Option Exercises.  In order to exercise any Option,  the
Investor shall provide the Company with a written notice of exercise (a) stating
the Investor's intent to exercise the Option, and (b) specifying the date, which
shall be no fewer  than  three  Business  Days  after the date of the notice and
shall be on or before the expiration date of the respective Option, on which the
Investor  desires to  consummate  the purchase and sale of the Units  subject to
such Option.

         1.7  Equitable  Adjustment.  If the outstanding number of Common Shares
are divided  into a greater  number of shares,  the number of Units  purchasable
upon the exercise of each Option shall be proportionately increased and the Unit
Price shall be proportionately reduced. Conversely, if the outstanding number of
Common Shares are combined into a smaller number of Common Shares, the number of
Units  purchasable  upon the  exercise of each Option  shall be  proportionately
reduced and the Unit Price shall be proportionately increased. The increases and

                                       2
<PAGE>

reductions  provided  for in this Section 1.7 shall be made with the intent and,
as nearly as  practicable,  the effect that neither the  percentage of the total
equity of the Company  obtainable  on exercise of each Option nor the  aggregate
price payable for such  percentage  shall be affected by any event  described in
this Section 1.7.

         1.8  Registration  of  Securities.  The Company agrees to file with the
SEC,  within 30 days of the  closing  of the  purchase  and sale of the  Initial
Units, a registration statement registering the re-sale, to the extent permitted
by  governing  law as a  re-sale,  all of the  Shares  and  the  Warrant  Shares
(including  those that may be received in  connection  with the  exercise of the
Options).  The Investor acknowledges that the Company makes no representation or
warranty that governing rules will permit the registration of the re-sale of the
Warrant Shares  issuable upon the exercise of Warrants  received after effective
date of the registration  statement. If the Company determines that registration
of the re-sale of the common  shares  issuable  upon the  exercise of any of the
Warrants  acquired under this Agreement is not permitted,  the Company agrees to
amend such Warrants to add a "cashless exercise" provision, substantially in the
following form:

         "This  Warrant  shall  also be  exercisable  by  means  of a  "cashless
         exercise"   in  which  the  Holder  shall  be  entitled  to  receive  a
         certificate  for the number of  Warrant  Shares  equal to the  quotient
         obtained by dividing [(A-B) (X)] by (A), where:

                           (A) = the average of the high and low trading  prices
                           per  share  of  Common   Stock  on  the  Trading  Day
                           preceding  the date of such election on the Principal
                           Market;

                           (B) =  the Exercise Price of this Warrant; and

                           (X) = the  number of  Warrant  Shares  issuable  upon
                           exercise of this Warrant in accordance with the terms
                           of this Warrant and the Notice of Exercise."

The Company shall use reasonably efforts to cause such registration statement to
become effective as soon as practicable following its filing with the SEC.

         2.   Representations and Warranties of the Company.  The Company hereby
represents and warrants to the Investor as of the date of this Agreement (or, if
an different date is stated in such representation and warranty as of such date)
as follows:

         2.1  Due Authorization. All corporate action on the part of the Company
necessary for the authorization,  execution and delivery of this Agreement,  the
performance of all obligations of the Company hereunder,  and the authorization,
issuance (or  reservation  for issuance) and delivery of the Securities has been
taken or will be taken  prior to Closing,  and this  Agreement  constitutes  the
valid and legally binding  obligation of the Company,  enforceable in accordance
with its  respective  terms subject to applicable  bankruptcy,  insolvency,  and
other  similar laws  affecting  creditors'  rights,  and rules of law  governing
specific performance.

         2.2  Corporate  Organization and Other Related Matters.  The Company is
duly organized,  validly existing and in good standing under the Canada Business
Corporations Act. The Company has full corporate power and authority to carry on
its business as such business is now being  conducted and to own the  properties
and assets it now owns. The Company is duly  qualified to transact  business and
is in good  standing  in each  jurisdiction  in which the  failure to so qualify
would have a material adverse effect on its business or properties.  The Company
has full corporate  power and authority to enter into this  Agreement,  to issue
the Securities and to consummate the transactions contemplated hereby

                                       3
<PAGE>

         2.3  Governmental   Consents.   No   consent,    approval,   order   or
authorization of, or registration,  qualification,  designation,  declaration or
filing with, any federal,  state or local governmental  authority on the part of
the Company is required in connection with the  consummation of the transactions
contemplated by this Agreement,  except for (i)  qualifications or filings under
the  Securities  Act of  1933,  as  amended  (the  "Securities  Act"),  and  the
regulations  thereunder and (iii)  qualification  or filings  required under all
other  applicable  federal and state securities laws and stock exchange or stock
quotation  service  regulations  as may  be  required  in  connection  with  the
transactions contemplated by this Agreement.

         2.4  Valid Issuance of Securities.  When issued,  sold and delivered in
accordance  with the terms hereof,  the Shares will be duly and validly  issued,
fully-paid and nonassessable. When issued, sold and delivered in accordance with
the terms  hereof,  the Warrants  will be duly and validly  issued.  The Warrant
Shares have been duly and validly authorized and reserved for issuance and, upon
issuance in accordance  with the terms of the respective  Warrant,  will be duly
and validly issued fully-paid and nonassessable.

         2.5  Litigation.  There  is  no  action,  proceeding  or  investigation
pending or, to the  knowledge  of the Company,  threatened  that  questions  the
validity  of this  Agreement  or the  right of the  Company  to enter  into this
Agreement,  or that would  have,  either  individually  or in the  aggregate,  a
material  adverse  effect on the  business,  properties,  prospects or financial
condition of the Company. There is no judgment,  decree or order of any court in
effect  against the  Company,  and the Company is not in default with respect to
any order of any  governmental  authority  to which the Company is a party or by
which the Company is bound.

         2.6  SEC  Filings.  The  Company  has filed all  reports,  registration
statements,  forms  and other  documents  that it is  required  to file with the
Securities  and Exchange  Commission  (the "SEC") or any exchange on which it is
traded or reporting  service  through  which any of its  securities  are quoted,
including  without  limitation all filings  required by the Securities  Act, any
rules promulgated  thereunder,  the Securities  Exchange Act of 1934, as amended
(the "Exchange Act"), and any rules promulgated thereunder.

         3.   Representations  and  Warranties  of the  Investor.  The  Investor
hereby represents and warrants to the Company that:

         3.1  Authorization. This Agreement constitutes the Investor's valid and
legally binding obligation,  enforceable in accordance with its terms subject to
applicable bankruptcy,  insolvency,  and other similar laws affecting creditors'
rights,  and rules of law governing specific  performance,  and the Investor has
full power and authority to enter into this Agreement.

         3.2  Representations  Not Made by Company.  The Investor represents and
affirms  that  none of the  following  information  has ever  been  represented,
guaranteed or warranted to the  Investor,  expressly or by  implication,  by any
person:  (i) the  approximate  or exact length of time that the Investor will be
required to remain a security  holder of the  Company;  (ii) the  percentage  of
profit and/or amount of or type of consideration, profit or loss to be realized,
if any, as a result of an  investment in the Company;  or (iii) the  possibility
that the past  performance  or  experience  on the  part of the  Company  or any
affiliate, or any officer,  director,  employee or agent of the foregoing, might
in any way  indicate or predict the results of  ownership of any Security or the
potential success of the Company's operations.

                                       4
<PAGE>

         3.3  Purchase for Own Account.  The Investor is the sole and true party
in  interest,  is  acquiring  the  Securities  for  his/her/its  own account for
investment,  is not  purchasing the Securities for hereby for the benefit of any
other person, and has no present intention of holding or managing the Securities
with others or of selling, distributing or otherwise disposing of any portion of
the  Securities.  The Investor (i) if an individual,  is a citizen of the United
States,  is at least 21 years of age, and is a bona fide  permanent  resident of
and is  domiciled  in the  state  set forth  below  the  Investor's  name on the
signature page hereof, (ii) if an entity, is duly organized and in good standing
in its  jurisdiction of organization  and has its principal place of business in
the state set forth below the Investor's name on the signature page hereof.

         3.4  Disclosure and Review of  Information.  The Investor  acknowledges
and  represents  that he/it has received and reviewed a copy of the Summary.  In
addition,  the Investors  acknowledges and represents that the Investor has been
given a reasonable opportunity to review all documents, books and records of the
Company pertaining to this investment, and has been supplied with all additional
information concerning the Company and the Securities that has been requested by
the Investor,  has had a reasonable  opportunity to ask questions of and receive
answers from the Company or its representatives  concerning this investment, and
that all such  questions  have been  answered  to the full  satisfaction  of the
Investor.  The Investor has received,  and acknowledges that he/it is receiving,
no  representations,  written  or  oral,  from  the  Company  or  its  officers,
directors,  employees,  attorneys or agents  other than those  contained in this
Agreement  and  the  Summary.   In  making  his/her  decision  to  purchase  the
Securities,  the Investor has relied solely upon its review of the Summary, this
Agreement,  and  independent  investigations  made by it or its  representatives
without assistance of the Company.

         3.5  Investment.  The Investor understands that (i) he/it must bear the
economic risk of the investment in the  Securities  for an indefinite  period of
time  because  the Shares,  the  Warrants  and the Warrant  Shares have not been
registered under the Securities Act or qualified under the Securities Act or the
securities  laws of any other  jurisdiction  and (ii) his/its  investment in the
Company  represented  by the  Securities is highly  speculative in nature and is
subject to a high degree of risk of loss in whole or in part.  The  Investor has
adequate   means  of   providing   for  his/her   current   needs  and  possible
contingencies,  and is able to bear the high  degree  of  economic  risk of this
investment,  including, but not limited to, the possibility of the complete loss
of the  Investor's  entire  investment  and the limited  transferability  of the
Securities, which may make the liquidation of this investment impossible for the
indefinite future.

         3.6  Accredited   Investor  Status.   The  Investor  has  reviewed  the
definition of an "accredited  investor"  attached to this Agreement as Exhibit A
and qualifies as an "accredited  investor"  under one or more components of such
definition, as indicated on the signature page hereof.

         3.7  Investment Experience.  The Investor has experience as an investor
in  securities  and  acknowledges  that it can  bear  the  economic  risk of its
investment in the Securities.  By reason of the Investor's business or financial
experience or the business or financial experience of its professional  advisors
who are  unaffiliated  with and who are not  compensated  by the  Company or any
affiliate or selling agent of the Company, directly or indirectly,  the Investor
has the capacity to protect its own interests in connection with its purchase of
the Securities. The Investor has the financial capacity to bear the risk of this
investment  and has received from the Company all  information  it has requested
and  considers  necessary or  appropriate  for deciding  whether to purchase the
Securities.  If an entity,  the Investor has not been  organized  solely for the
purpose of acquiring the Securities.

         3.8  Restricted  Securities.  The Investor understands that the Shares,
the  Warrants  and (if issued) the  Warrant  Shares are and will be  "restricted
securities"  under the  Securities  Act inasmuch as they are being acquired from
the Company in a transaction not involving a public offering, and that, under

                                       5
<PAGE>

the Securities Act and applicable regulations thereunder, such securities may be
resold without  registration  under the  Securities Act only in certain  limited
circumstances.  In this  connection,  the  Investor  represents  that  he/it  is
familiar with Rule 144  promulgated  under the  Securities  Act, as presently in
effect,  and  understands  the resale  limitations  imposed  thereby  and by the
Securities  Act.  The Investor  further  confirms and agrees that the Company is
under no obligation  to register the re-sale of the Shares,  the Warrants or the
Warrant Shares under the Securities Act or any state securities laws.

         3.9  Legends. The Investor understands that the certificates evidencing
the Shares,  the Warrants and the Warrant  Shares will bear the legend set forth
below,  together with any other  legends  required by the laws of Canada and any
state or province with jurisdiction:

                  THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED,  OR QUALIFIED UNDER  APPLICABLE STATE
                  SECURITIES  LAWS AND HAVE BEEN TAKEN FOR  INVESTMENT  PURPOSES
                  ONLY AND NOT WITH A VIEW TO OR FOR SALE IN CONNECTION WITH ANY
                  DISTRIBUTION  THEREOF.  THESE  SECURITIES  MAY  NOT BE SOLD OR
                  OTHERWISE TRANSFERRED UNLESS A REGISTRATION STAEMENT UNDER THE
                  SECURITIES ACT OF 1933, AS AMENDED,  IS IN EFFECT WITH RESPECT
                  TO SUCH  SECURITIES  OR THE COMPANY HAS RECEIVED AN OPINION IN
                  FORM AND SUBSTANCE  SATISFACTORY TO THE COMPANY PROVIDING THAT
                  AN  EXEMPTION  FROM  THE  REGISTRATION   REQUIREMENTS  OF  THE
                  SECURITIES ACT OF 1933, AS AMENDED, IS AVAILABLE.

The legend set forth above shall be removed by the Company from any  certificate
evidencing  any of the  Securities  only (i) upon  receipt by the  Company of an
opinion in form and substance  satisfactory  to the Company that such legend may
be removed  pursuant to Rule 144  promulgated  under the Securities Act, or (ii)
upon confirmation  that a registration  statement under the Securities Act is at
that time in effect with respect to the legended Security and that such transfer
will not jeopardize the exemption or exemptions  from  registration  pursuant to
which the respective Security was issued.

         3.10 Indemnification.   The  Investor   acknowledges   that   he/she/it
understands  the  meaning  and legal  consequences  of the  representations  and
warranties  set forth in Section 3 hereof and that the Company and the officers,
directors,  employees  and agents of the Company  have relied and will rely upon
such representations and warranties. The Investor hereby agrees to indemnify and
hold  harmless  the  Company  and each of its  respective  officers,  directors,
employees  and  agents  from  and  against  any and  all  loss,  claim,  damage,
liability,  cost or expense (including  attorney's fees),  joint or several,  to
which any such  person may  become  subject  due to or  arising  out of: (i) any
breach  by the  Investor  of any  such  representation  or  warranty;  (ii)  any
inaccuracy in the  representations  and warranties  hereinabove set forth; (iii)
the  disposition  of any of the  Securities  by  the  Investor  contrary  to the
foregoing representations and warranties; and (iv) any action, suit, proceeding,
demand,  assessment or judgment  incident to or based upon any of the matters so
indemnified against.  Notwithstanding the foregoing, however, no representation,
warranty,  acknowledgement or agreement made herein by the Investor shall in any
manner be deemed to  constitute a waiver of any rights  granted to him/her under
federal or state securities laws.

         4.   Miscellaneous.

         4.1  Entire Agreement.  This Agreement,  together with its exhibits and
schedules,  constitute the entire contract  between the Company and the Investor
relative to the purchase and sale of the  Securities  and  supersede any and all
prior  or  contemporaneous  oral  or  written  agreements,   understandings  and
discussions with respect thereto.

                                       6
<PAGE>

         4.2  Expenses.  Each of the Company and the Investor  will bear his/its
own  legal and other  fees and  expenses  in  connection  with the  transactions
contemplated in this Agreement.

         4.3  Governing Law; Consent to Jurisdiction  and Venue.  This Agreement
shall be governed by and construed in  accordance  with the laws of the State of
Nevada. The Company and the Investor hereby irrevocably consent to the exclusive
jurisdiction  and venue of State and  federal  courts  within  the city of Reno,
Nevada for any dispute arising out of this Agreement.

         4.4  Counterparts.  This  Agreement  may be  executed  in  two or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

         4.5  Headings.  The headings of the Sections of this  Agreement are for
convenience  and shall not by themselves  determine the  interpretation  of this
Agreement.

         4.6  Notices. Any notice required or permitted hereunder shall be given
in writing and shall be  conclusively  deemed  effectively  given upon  personal
delivery,  on the date of receipt if sent by  telecopier  or overnight  courier,
charges  prepaid,  or five days  after  deposit in the United  States  mail,  by
registered or certified mail, postage prepaid,  addressed (a) if to the Company,
as set forth below the Company's name on the signature  page of this  Agreement,
and (b) if to the  Investor,  at the  Investor's  address as set forth below the
Investor's  name  on the  signature  page of this  Agreement,  or at such  other
address as the Company or the Investor may  designate by ten (10) days'  advance
written notice to the Investor or the Company, respectively.

         4.7  Survival of Representations  and Warranties.  The  representations
and  warranties of the parties  contained in or made pursuant to this  Agreement
shall  survive  the  execution  and  delivery  of this  Agreement  and  Closing;
provided,  however, that such representations and warranties are only made as of
the date of such execution and delivery and as of such Closing.

         4.8  Amendments. Any term or provision of this Agreement may be amended
and the observance of any term, condition, or provision of this Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively)  by a written  instrument  signed by the  Company  and  Investors
purchasing a majority of the Shares being purchased hereunder.

         4.9  Severability. If one or more provisions of this Agreement are held
to be unenforceable  under applicable law, such  provision(s)  shall be excluded
from this Agreement and the balance of this Agreement shall be interpreted as if
such provision  were excluded and shall be  enforceable  in accordance  with its
terms.

         4.10 Acknowledgement as to Counsel.  The parties  acknowledge and agree
that  Stoel  Rives LLP has  prepared  this  Agreement  and the  other  documents
contemplated hereby as counsel to the Company and not as counsel to the Investor
and that the Investor is entitled to retain his or its own counsel at his or its
own expense.

               [intentionally left blank; signature page follows]

                                       7
<PAGE>

         IN WITNESS  WHEREOF,  the parties  hereto have  executed or caused this
Stock Purchase,  Option and Subscription  Agreement to be executed by their duly
authorized representatives as of the date first written above.

"Company"

         ALTAIR NANOTECHNOLOGIES INC.,
         a Canada corporation

         By:/s/ Ed Dickinson
            ---------------------------------------------
                Ed Dickinson, its Chief Financial Officer

         Address:
         1725 Sheridan Avenue, Suite 140
         Cody, Wyoming  82414
         Facsimile: (307) 587-8357

"Investor"

         ----------------------------------
         Print Name

         ----------------------------------
         Sign Name

         Address:  ----------------------------------

                   ----------------------------------

                   ----------------------------------

Name in which Shares are is to be  registered  if  different
from above:
           ---------------------------------------------------------------------

Number of Initial Units subscribed for:
                                       ----------------------------

Purchase Price of Initial Units ($0.75 per Unit):
                                                 ------------------

By signing  above,  the  Investor  represents  and  warrants to the Company that
he/she/it  has reviewed the  definition  of  "accredited  investor" on Exhibit A
attached  hereto and that the  Investor is an  accredited  investor  because the
Investor is (check all that apply):

     [ ]      A natural person whose  individual  net worth,  or joint net worth
              with that  person's  spouse,  at the time of his  purchase  exceed
              $1,000,000;

     [ ]      A  natural  person  who had an  individual  income  in  excess  of
              $200,000 in each of the two most recent years or joint income with
              that person's  spouse in excess of $300,000 in each of those years
              and has a reasonable expectation of reaching the same income level
              in the current year;

     [ ]      Other (please explain):
                                      ------------------------------------------

                                       8
<PAGE>

                                    EXHIBIT A
                                    ---------

                        Definition of Accredited Investor

"Accredited  Investor"  shall  mean  any  person  who  comes  within  any of the
following categories,  or who the issuer reasonably believes comes within any of
the  following  categories,  at the time of the sale of the  securities  to that
person:

     (1)      Any bank as defined in section  3(a)(2) of the Securities  Act, or
              any savings and loan  association or other  institution as defined
              in section  3(a)(5)(A) of the Securities Act whether acting in its
              individual or fiduciary capacity;  any broker or dealer registered
              pursuant to section 15 of the Securities Exchange Act of 1934; any
              insurance  company as defined in section  2(13) of the  Securities
              Act;  any  investment  company  registered  under  the  Investment
              Company Act of 1940 or a business  development  company as defined
              in section  2(a)(48) of that Act;  any Small  Business  Investment
              Company licensed by the U.S. Small Business  Administration  under
              section  301(c) or (d) of the  Small  Business  Investment  Act of
              1958;  any  plan  established  and  maintained  by  a  state,  its
              political  subdivisions,  or any  agency or  instrumentality  of a
              state  or  its  political  subdivisions  for  the  benefit  of its
              employees,  if such plan has total assets in excess of $5,000,000;
              any  employee  benefit  plan  within the  meaning of the  Employee
              retirement Income Security Act of 1974 if the investment  decision
              is made by a plan  fiduciary,  as defined in section 3(21) of such
              Act,  which  is  either  a bank,  savings  and  loan  association,
              insurance company,  or registered  investment  adviser,  or if the
              employee benefit plan has total assets in excess of $5,000,000 or,
              if a self-directed plan, with investment  decisions made solely by
              persons that are accredited investors;

     (2)      Any  private  business  development  company as defined in section
              202(a)(22) of the Investment Advisers Act of 1940;

     (3)      Any  organization  described in Section  501(c)(3) of the Internal
              Revenue  Code,  corporation,  Massachusetts  or  similar  business
              trust,  or  partnership,  not formed for the  specific  purpose of
              acquiring the securities  offered,  with total assets in excess of
              $5,000,000;

     (4)      Any director, executive officer, or general partner of the issuers
              of  the  securities  being  offered  or  sold,  or  any  director,
              executive officer, or general partner of a general partner of that
              issuer;

     (5)      Any natural person whose  individual net worth, or joint net worth
              with that  person's  spouse,  at the time of his  purchase  exceed
              $1,000,000;

     (6)      Any  natural  person  who had an  individual  income  in excess of
              $200,000 in each of the two most recent years or joint income with
              that person's  spouse in excess of $300,000 in each of those years
              and has a reasonable expectation of reaching the same income level
              in the current year;

     (7)      Any trust, with total assets in excess of $5,000,000, not formed
              for the specific purpose of acquiring the securities offered whose
              purchase is directed by a sophisticated person as described in ss.
              230.506(b)(2)(ii); and

     (8)      Any  entity  in which  all of the  equity  owners  are  accredited
              investors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]