BRITISH COLUMBIA SECURITIES COMMISSION
QUARTERLY REPORT
FORM 61
Attached as part of Schedules B and C
Issuer DetailsName of IssuerNORTHRICH PACIFIC VENTURES INC. For Quarter EndedFebruary 28, 1998 Date of ReportY M D98 06 12
Issuer's Address1128-789 West Pender Street
City Province Postal CodeVancouver, British Columbia V6C 1H2 Issuer Fax No.(604) 687-2327 Issuer Telephone No.(604) 684-2383
Contact PersonErwin Liem Contact's PositionDirector Contact Telephone No.(604) 684-2383
CERTIFICATE
The three schedules required to complete this Quarterly Report are attached and the disclosure contained therein has been approved by the Board of Directors. A copy of this Quarterly Report will be provided to any shareholder who requests it.
Director's Signature Print Full NameBARRY HEMSWORTH Date SignedY M D98 06 15
Director's Signature"Erwin Liem" Print Full NameERWIN LIEM Date SignedY M D98 06 15
Related Transactions
Supplementary Information
Schedule B Section 1
Aggregate amount of Expenditures made to Parties not at Arm's Length
during Quarter Ended February 28, 1998
Administrative Services, professional fees and Rent paid to companies which have one or more mutual Director $ 250
Securities Issued during Quarter Ended February 28, 1998
Schedule B Section 2a
Date of Issue Type of Security Number or Amount Price Total Proceeds Consideration Commission
n/a n/a n/a
SUPPLEMENTARY INFORMATION
SCHEDULE B SECTION 3a
Authorized and Issued Share Capital as at February 28, 1998
Class Par Value Auth. Number Issued Number Issued Amount
Common NPV 100,000,000 14,321,224 $ 5,215,740
Section 3b
Options Warrants & Convertible Securities o/s February 28, 1998
Security Number of Amount Exercise or Price Convertible Issued Amount
Warrants 1,250,000 $ .20 August 9, 1998
Options 565,000 $ 1.00 March 25, 2002
Section 3c
Shares in Escrow or Subject to Pooling as at February 28, 1998
Common shares in Escrow 31,248
Section 3d
List of Directors as at February 28, 1997
Director Position Held
Arshad A. Shah Director/President
Erwin Liem Director/Secretary
William Gilmour Director
Laurence Sookochoff Director
NORTHRICH PACIFIC VENTURES INC.
SCHEDULE "C" - MANAGEMENT DISCUSSIONS
FOR THE PERIOD ENDED FEBRUARY 28, 1998
MANAGEMENT DISCUSSION
JUNE 16, 1998
On February 9, 1998, Mr. Robert Klein resigned his position on the Board of Directors and with the Company. Mr. Erwin Liem was elected to fill the vacancy and act in the capacity of Director and Corporate Secretary.
During the period, the Company lost the lease on the Coni I property. Management did not feel that this was a necessary asset / direction of business, given the Company's status.
SUBSEQUENT EVENTS
On March 19, 1998, the Company held it's Annual General Meeting. At the meeting the number of directors for the Board was set at four, and the following persons were elected as directors for the ensuing year:
Arshad Shah
Erwin Liem
Lawrence Sookchof
William R. Gilmour
Also at the meeting a special resolution was passed that the Memorandum of the Company be altered to represent a 5:1 consolidation of the authorized capital of the Company. By special resolution, the authorized share capital of the company was increased, on a post-consolidation basis, from 20,000,000 to 100,000,000 common shares without par value. Shareholders also authorized, by way of special resolution, changing the name of the Company to "Cartier Ventures Inc."
On April 30, 1998, Mr. Arshad Shah resigned his position as Chairman of the Board. Mr. Barry Hemsworth was duly elected as President of the Company and Chairman of the Board, on this same date.
While the Company is still under review by the Vancouver Stock Exchange and other regulatory bodies, Management is diligently working to restore the Company to an 'active' trading status and to complete such further and other reorganization and restructuring as is necessary. Management and the Board of Directors is committed to seeing the Company become successful, and its business progressing.
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