Just thought I'd post this again:
Completion of Frontier International/Medinah Energy Agreement
VANCOUVER, BRITISH COLUMBIA (Aug. 5) BUSINESS WIRE -Aug. 5, 1998--N.P. Energy announced today the acceptance of an Agreement with Medinah Energy (MDIN/BB) in regards to its participation in the Chilean mining projects. Medinah purchased N.P.'s remaining interest in Chile for one million five hundred thousand (1,500,000) shares of Medinah Preferred Class A Shares, issued at $1.00 per share.
The Agreement was part of the acquisition that transpired between Medinah, Last Frontier Resources and N.P. Energy in August of 1997. In addition to the above Class A Preferred shares in Medinah, based upon the distribution of Frontier shares in Medinah, N.P. Energy would then hold a total of 4,707,950 shares of Medinah Class A Preferred shares.
The Class A Preferred share in Medinah are non-voting, dividend bearing shares, issued at $1.00 each, convertible to common shares on a 4 to 1 ratio over a four year period commencing in July 1999. On behalf of the Board of Directors Per Larry Regis, President.
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