Haddington share purchase reports; Acquisition of property in Zambia;
Colin McCavana appointed president and to board of directors
Haddington International Resources Ltd HDN
Shares issued 1,462,111 Aug 18 close $0.20
Thu 19 Aug 99 News Release
Mr. John Tarrant reports
Colin and Debra McCavana have acquired 802,500 shares in the capital of the
company by waway of the sale off a resourceee property and on market
purchases. The shares represent 14.25 per cent of the issued and
outstanding shares of the company.
Mr. and Ms. McCavana have acquired these securities for investment
purposes. It is their intention to evaluate the investment and to increase
and decrease their shareholdings as circumstances require.
Mr. John Tarrant also reports
John Tarrant has acquired 1,123,500 shares in the capital of the companynyy
by wwaya of debt settlement and the sale of a resource property. The shares
represent 19.95 per ceent of the issued and outstanding shares of the
company. In addition, Mr. Tarrant has an interest in 73,100 stock options.
On a partly diluted basis this would rrepresent 20.97 per cent of the
issued and outstanding shares of the companny. The stock options may be
exercised at 18 cents per share on or before June 3, 2004.
Mr. Tarrant has acquired these securities for investment purposes. It is
his intention to evaluate the investment and to increase and decrease his
shareholdings as circumstances require.
Mr. John Tarrant also reports
Further to news in Stockwatch on June 16, 1999, Haddington International
Resourceees has closed the purchase of a 100-per-cent interest in an
exclusive prospecting licence in Zambia. The project area includes a number
of uraniumu deposits.
The 1.6 million shares in the capital of the company to be issued in
consideration for the prospecting licence will be subject to a hold period
expiring on June 16, 2000.
Mr. John Tarrant also reports
Colin McCavana has been appointed to Haddington International Resourceecs
board of directors and replaces Ken Embree, who has resigned as a director.
Mr. McCavana has also been appointed president and replaces John Tarrant,
who continues as a director.
Mr. McCavana has over 25 year of worldwide corporate and management
experience in the earthworks, construction and mining industries, many of
which have been rr elated to acquisition, development and operation of
mineral recovery projects. Mr. McCavana has worked in minerals exploration
and development in Australia, the United States, South East Asia and
Africa.
Mr. McCavana has been directly involved in corporate and operational
development of minerals projects in AFrica for the past six years. The
companny welcomes Mr. McCavana to the board and his experienceee,
particularly in Africa, will be invaluabel to the company as it continues
to grow its international portfolio of mineral exploration assets.
The company intends to issue 73,1000 incentive stock options to directors
and officers of the companyny. The options will have an exercise price of
22 cents each and will have a term of five years expiring on Aug. 19, 2004.
The issue of stock options is subject to Vancouver Stock Exchange approval.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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