Lithos Corporation : Shareholders'News
SAINTE-FOY, QUEBEC--Lithos Corporation is proud to announce that its shareholders' annual
meeting planned for April 15, 1999 will be taking place in the Montreal Stock Exchange Auditorium
room, Tour de la Bourse, 800, square Victoria, Montreal, on Wednesday, August 25, 1999 at
10:00 AM.
A committee consisting in independent administrators of Lithos Corporation was created in order to
study the transaction allowing Lithos Corporation to acquire all Limtech inc. common shares in
exchange for common shares from its capital stock. In order to estimate the reasonableness of this
transaction, the committee examined, among others, independent evaluations that were made from
October 31, 1997 to very recently in order to determine the value of Limtech assets and the
potential of its lithium carbonate production project. After the examination of this information and
these documents, the committee declared itself satisfied with former evaluations and confirmed that
trading conditions of Lithos Corporation shares were reasonable and needed no additional
evaluation. As a result, the committee concluded that this transaction was beneficial to Lithos
Corporation shareholders and it therefore recommends them to ratify it based on proposed terms
and conditions.
Following several months of negotiation with our associates and partners of the gold sector, Lithos
Corporation wishes to inform its shareholders that all its Canadian and international gold assets have
been transferred into a new company that is totally independent. As a matter of fact, mister
Raymond Savoie, former minister of Mines in the Quebec government, will be responsible for this
new company and act as chairman of the board for Newco, a company with an international division
and another division for the province of Quebec.
This sale of all gold mine assets of Lithos Corporation shall allow them to dedicate themselves
exclusively to industrial high technology. All these gold assets will be paid with Newco shares. These
shares will eventually be handed over directly to Lithos Corporation shareholders.
This transaction will be conditional to its acceptance by shareholders during the annual meeting of
August 25 and to its approval by regulatory authorities.
Finally, Lithos Corporation is proud to announce that its wholly-owned subsidiary Limtech will
benefit from an assistance program of the Federal Government and of the department of Natural
Resources (IERD) that consists in a $ 786 000 interest-free loan. This investment follows a thorough
and careful study of the high-purity carbonate purification process and will allow to complete the
optimization process of our pilot plant. Thanks to this assistance program, Limtech inc. will be able
to keep on developing lithium chloride, an industrial process which is also the object of a patent
application.
Lithos Corporation is a company involved in mining and high technology. Company stocks are listed
on the Montreal Stock Exchange.
Contact:
Lithos Corporation
Louis Lessard
Vice-president, Finance
(418) 650-4171
or
Lithos Corporation
Gilles Dupuis
President
(418) 650-4171
(418) 570-2300 |
