1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                   FORM 8-K



                                CURRENT REPORT


                       Pursuant to Section 13 or 15[d] of
                      The Securities Exchange Act of 1934



                       Date of Report:  March 26, 1998




                            TECHNICAL VENTURES INC.
                             [Name of Registrant]



         New York                 33-2775-A                     13-3296819
 [State of Incorporation]      [Commission File]             [IRS Ident. No.]



    3411 McNicoll Ave., Unit 11, Scarborough, Ontario, Canada M1V 2V6
                  [Address of Principal Executive Offices]

                   Registrant Telephone No. 416/299-9280
                    
2



ITEM 5.  OTHER IMPORTANT EVENTS

   (a)   The Company has reached an agreement (which is documented in a
         "Letter of Understanding") with Dow Chemical Canada Inc. and The Dow
         Chemical Company ("Dow"), as the case may be, in the matter of
         resolving the outstanding Term Debt owed by the Company's subsidiary
         Mortile Industries Ltd. ("Mortile") to Dow Chemical Canada Inc.
         Detailed terms will be covered in a binding settlement agreement now
         being prepared.

         The Company has agreed that Mortile will transfer to Dow, title and
         ownership in it's exiting intellectual property rights (including
         all know-how, patents and patent applications) which relate to
         halogen free, flame retardant thermoplastic composition technology
         and smelt filler technology (the technology).

         Dow will execute and deliver an Acknowledgement and Release,
         satisfying the Term Debt; releasing Mortile from its relative
         obligations under the Term Debt and accrued interest ($1.052 Million
         Canadian).  As well, guarantees made by both Technical Ventures Inc.
         and a shareholder of the Company.

         The Company, in return, will acknowledge that the Term Debt has been
         cancelled with its consent and release Dow from their obligations
         under the License Agreement dated February 19,1992, and which was
         previously filed as an exhibit.

         Dow will also provide the Company with a non-exclusive, non
         transferable, royalty free world-wide license for use of the
         technology; with Dow having access on at least a non-exclusive basis
         to improvements which the Company may make in the exercise of this
         license.

         The Company feels that this agreement can be concluded on or about
         March 31, 1998 thereby enabling the positive financial reflection of
         the agreement in the Company's third quarter report, 10-QSB , at
         March 31, 1998.  However there can be no assurance as to execution
         of this agreement, by that date.
      
  (b)    The Company's auditors are currently finalizing the required two
         year audit for financial years ending June 30, 1996 and 1997
         respectively.  It is hoped that the audit report will be completed
         and filed with The Securities Exchange Commission on or before
         March 31, 1998.  However there can be no assurance of this.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
         AND EXHIBITS

         (a) Not applicable
         (b) Not applicable






<PAGE 3>





                                 SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the 

Registrant has duly caused this Report to be signed on its behalf by the

undersigned hereunto duly authorised.





                                      TECHNICAL VENTURES INC.
                                            (Registrant)





                                         Larry R. Leverton
                                      _________________________
                                      Larry R. Leverton
                                      Chief Financial Officer


Dated:  March 26, 1998