The company Response:
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Tuesday May 12, 7:45 pm Eastern Time
Company Press Release
Golden Eagle International Inc. Addresses Issues Raised by SEC Action
DENVER--(BUSINESS WIRE)--May 12, 1998--Golden Eagle International, Inc. (OTC Bulletin Board: MINE - news) announced today that, in regard to the recently filed civil case by the Securities and Exchange Commission, the Company has been aware of and active in settling the case for more than two years.
The Company believes it has reached a settlement agreement with the SEC and that it will be submitted to the Commission for approval in the near future.
In addition, the Company stated that Ronald A. Knittle resigned as Golden Eagle's president two years ago in May, 1996, and Timberline Consultants, Inc. has not represented the Company in over two years. As stated in the news release issued by the SEC, no penalties are being sought against Golden Eagle by the SEC.
The Company continues to move forward with its gold mining and exploration operations in Cangalli, Bolivia. According to Golden Eagle president Terry C. Turner, ''these allegations represent actions from more than two years ago. In the two-year interim since the alleged activity by the Company's officers, the Company's new management has diligently sought to issue accurate information. The Company will, in the near future, file a Form 8-K periodic report addressing the issues raised by the SEC's filing.''
For investor relations information, please call Sabrina Martinez at (303) 694-6101 or visit the Company's website: www.goldeneagle-mine.com. Media inquiries should be directed to Guy Murrel at (303) 581-7760.
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Contact:
Guy Murrel, (303) 581-7760
Sabrina Martinez, (303) 694-6101
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More Quotes and News: Golden Eagle International Inc (OTC BB:MINE - news)
Related News Categories: mining/metals
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