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Gold/Mining/Energy : KNGC; Kalan Gold Corporation - another metals player
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To: KZAP who wrote (14)6/12/1999 10:51:00 PM
From: TraderGreg  Read Replies (1) of 33
 
From the 8K filing(BTW, KNGC is already fully reporting) of 5/14/99

Item 1. CHANGES IN CONTROL OF REGISTRANT.
The Registrant has signed a revised agreement with Gilt Guaranty Trust, Ltd., of London, England for a private placement of not less than $50million US of the Registrant's securities, with a combination of common stock and convertible bonds at a face value to
be determined. The Registrant anticipates the completion of this
private placement in the second quarter of this fiscal year. (the second quarter ends 6/30/99).

"The Registrant plans to apply for the NASDAQ National Market System
at the conclusion of the acquisition. The Registrant currently
trades on the NASD Bulletin Board."

Now, how will they get the stock to $5, given its $1 current price?

The 8K goes on to say: "The proceeds from this private placement are anticipated to be utilized in part to finance the buildout of a wireless, digital broadband network in Malaysia by the Registrant's subsidiary, Perwimas Telecommunications, and in part to finance the future acquisition of telecommunication and information technologies companies synergistic to the operations of the Registrant. "

Will they reverse the stock, some might ask? NO! In the April 8k consummating the acquisition of AEI:

"There are no plans to reverse split any of the issued and outstanding shares of the Registrant in connection with this transaction."

The above citations are not rumors from some Yahoo message board, internet hype letter, or a bathroom wall. They are direct quotes from filings with the SEC.

TG

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