Private Placement..
Monday Sep 18 2000
Mr. Adolf Lundin reports
In accordance with the requirements of Section 111 of the Securities Act (British
Columbia), Adolf H. Lundin has purchased 5.5 million shares of the company at a
price of 55 cents per share pursuant to a private placement transaction. The
acquisition of these shares will add to Mr. Lundin's control position in the company.
The company is a reporting company whose shares are posted and listed for trading
on the Canadian Venture Exchange under the trading symbol SLM.
Prior to the acquisition of shares, Mr. Lundin owned 16,744,680 common shares of
the company or 25.68 per cent of the issued capital. As a result of this acquisition
and on closing of the private placement transaction, the undersigned will have
beneficial ownership of, or the power to exercise control or direction over,
22,244,660 common shares of the company, representing 31.46 per cent of the then
issued and outstanding share capital.
As of the date hereof, the Mr. Lundin does not intend to further increase his
beneficial ownership of, or control or direction over, any of the securities of the
company.
The above transaction was carried out privately and not through any market. The
undersigned did not act jointly or in concert with any persons and acquired the
securities for investment purposes. Subject to availability, price, the general state of
the capital markets and the financial condition of the company from time to time,
Mr. Lundin may purchase or dispose of common shares of the company. |
