Globe says SouthernEra, New Indigo in merger talks
SouthernEra Resources Limited SUF
Shares issued 25,695,265 Oct 9 close $7.50
Tue 13 Oct 98 In the News
Also New Indigo Resources Inc (NDR)
The Globe and Mail reports in its Monday, Oct. 13, 1998 edition that
SouthernEra Resources says it's in merger talks with New Indigo Resources.
The Globe's Allan Robinson writes the decision to disclose the talks was
made because Christopher Jennings, the president of SouthernEra, was seen
in France in talks with one of the major shareholders of New Indigo.
Unnamed sources say Mr. Jennings and the president of New Indigo, Glenn
Laing, have been meeting with all of the major shareholders of New Indigo.
New Indigo is a joint venture partner with Lytton Minerals in the 2.4
million Jericho exploration project in the Northwest Territories. But
Lytton and New Indigo are both mired in a regulatory mess with Crabbe Huson
Group and one of its principals, James Crabbe, for not disclosing to
regulators that they had exceeded the 10 per cent ownership threshold in
both companies. Other ownership issues are in play as well. The Globe
concludes with SouthernEra saying it will be doing its due diligence to
study the legal implications of a merger with New Indigo. |
