3 1 h94638e3.txt CANADIAN ADVANTAGE L.P. FOR JOSHUA TREE CONST. -------------------------- OMB APPROVAL -------------------------- -------- OMB Number: 3235-0104 FORM 3 Expires: December 31, 2001 -------- Estimated average burden hours per response.... 0.5 -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ----------------------------------------------------------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date Statement Trading Symbol of Original CANADIAN ADVANTAGE LIMITED PARTNERSHIP (Month/Day/Year) JOSHUA TREE CONSTRUCTION, INC. (Month/Day/Year) ---------------------------------------- ------------------------------------ (Last) (First) (Middle) 01/04/2002 5. Relationship of Reporting ----------------------- ---------------------------- Person(s) to Issuer 7. Individual or Joint/ c/o VMH Management Limited 3. I.R.S. Identification (Check all applicable) Group Filing (Check 120 Adelaide Street West Number of Reporting Director X 10% Owner Applicable Line) 16th Floor Person, if an entity ----- ----- Form filed by ---------------------------------------- (voluntary) Officer Other (specify --- One Reporting (Street) ----- ----- below) Person ---------------------------- (give title below) X Form filed by Toronto, Ontario M5H 1T1, Canada --- More than One ---------------------------------------- ------------------------------ Reporting Person (City) (State) (Zip) ----------------------------------------------------------------------------------------------------------------------------------- TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED ----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect (Instr. 4) Beneficially Owned Direct (D) or Beneficial (Instr. 4) Indirect (I) Ownership (Instr. 5) (Instr. 5) ----------------------------------------------------------------------------------------------------------------------------------- Common Stock 13,247,850 D ----------------------------------------------------------------------------------------------------------------------------------- 3,957,150 I See note below ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Note: On January 4, 2002, Canadian Advantage Limited Partnership ("CALP") purchased 205,000 shares of the Issuer's common stock pursuant to a written Stock Purchase Agreement. CALP provided 77% of the purchase price and Advantage [Bermuda] Fund, Ltd. ("ABFL") provided 23% of the purchase price. On January 11, 2002, CALP purchased 200,000 shares of the Issuer's Series A Convertible Preferred Stock from the Issuer pursuant to a written Series A Convertible Stock Purchase Agreement. CALP owns 77% of the Series A Convertible Preferred & ABFL owns 23%. CALP & ABFL converted an aggregate of 170,000 shares of the Series A Convertible Preferred into 17,000,000 shares of the Issuer's Common Stock, 13,090,000 shares for CALP and 3,910,000 shares for ABFL. CALP, ABFL and Thomson Kernaghan & Co Ltd are under the common control of Mark E. Valentine, the Chairman of Thomson Kernaghan & Co Ltd., who has authority to vote and dispose the shares beneficially owned by any of them. Accordingly, Thomson Kernaghan & Co Ltd, CALP, ABFL and Mark E. Valentine may be considered a group which beneficially owns all of the shares beneficially owned by any of them. Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) *If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (3-99) POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTIONS OF INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number. SIGNATURE PAGE Canadian Advantage Limited Partnership by: VMH Management, Ltd, its general partner /s/ MARK E. VALENTINE 03/01/02 --------------------------------------------- ---------------- Mark E. Valentine Date Chairman and Chief Executive Officer Address: 120 Adelaide Street West, 16th Floor Toronto, Ontario M5H 1T1, Canada Thomson Kernaghan & Co. Ltd /s/ MARK E. VALENTINE 03/01/02 --------------------------------------------- ---------------- Mark E. Valentine Date Chairman Address: 120 Adelaide Street West, 16th Floor Toronto, Ontario M5H 1T1, Canada Advantage [Bermuda] Fund, Ltd by: VMH Management, Ltd, its investment advisor /s/ MARK E. VALENTINE 03/01/02 --------------------------------------------- ---------------- Mark E. Valentine Date Chairman and Chief Executive Officer Address: c/o Washington Mall 1, 3rd Floor 22 Church Street Hamilton 11 Bermuda

JOSHUA TREE CONSTRUCTION INC 3