Gentry Resources Ltd GNY
Shares issued 18,368,732 Jul 6 close $0.50
Wed 7 Jul 99 News Release
Also Barra Resources Inc (BAO)
Mr. Hugh Ross reports
Gentry has extended the expiry time of its offer to purchase all of the
outstanding common shares of Barra Resources from 4:30 p.m. July 6, 1999,
until 4:30 p.m. (Calgary time) July 19, 1999. The minimum percentage
condition remains at 90 per cent.
As at 4:30 p.m. on July 6, 1999, 7,582,794 common shares of Barra, which
represents 80.5 per cent of Barra's outstanding shares, have been deposited
pursuant to the offer. Participating shareholders of Barra (being its
directors, officers and certain other participating shareholders) have
deposited 3,312,500 shares and have agreed to deposit a further 230,000
shares upon the exercise of conversion rights under the Barra convertible
debentures.
Gentry has not waived the minimum percentage condition and has not taken up
any common shares of Barra. The offer is being extended to provide those
shareholders who have not yet deposited their shares the further
opportunity to deposit their shares and to permit the minimum percentage
condition to be achieved.
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