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Gold/Mining/Energy : Blonde Bear (BB.ASE)

BB 4.880

+2.3%

Oct 31 9:30 AM EST

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To: Nathan Hansen who wrote (165)	11/30/1998 11:51:00 AM
From: poorboy	Read Replies (2) of 212

Monday November 30, 11:29 am Eastern Time Company Press Release Blond Bear updates proposed Major Transaction CALGARY, ALBERTA--Blond Bear Holdings Inc. (''Blond Bear'') announces that the proposed shareholders' meeting scheduled for December to approve the Major Transaction has been cancelled until such time that Blond Bear has fulfilled all the requirements of the Alberta Stock Exchange concerning the acquisition of Mainchan Communications Group Inc. The Exchange has requested a copy of Mainchan's August 31, 1998 annual audited financial statements which Blond Bear will provide to the Exchange as soon as they are available. Both Mainchan and Blond Bear boards remain committed to completing the major transaction. The boards are pleased with the Mainchan business plan and the progress in implementing it to-date. Both boards are working diligently with the objective of meeting all ASE requirements necessary to present the major transaction for shareholder approval and obtain removal of the halt in trading on Blond Bear shares. They hope to achieve these objectives early in 1999. Blond Bear and Mainchan will provide further information, as it is available. Effective Monday November 30, 1998 inquiries with respect to Blond Bear may be directed on a toll free basis to 1-877-469-3663. On behalf of the Board Brent Mainwood, President Blond Bear Holdings Inc. On behalf of the Board Brent Mainwood, President Mainchan Communications Group Inc. Contact: FOR FURTHER INFORMATION PLEASE Blond Bear Holdings Inc. Brent Mainwood (403) 216-4048 or Shareholder Communications 1-877-469-3663 THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.

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