Hi, me again :-> Imforgot to mention trading is around $1.00 for now.
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Date: 03-20-97 Msg # 12638
From: NEWSOUT@CANADA-STOCKWATCH Conf: (9) I_EMAIL
To: CAM GIBB Stat: Private
Subj: STOCKWATCH: BYG NATU Read: Yes
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From newsout@canada-stockwatch.com Thu Mar 20 10:15:43 1997
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Date: Thu, 20 Mar 1997 07:14:53 -0800
From: newsout@canada-stockwatch.com
Subject: Stockwatch: BYG Natural Resources Inc - News Release
To: cam.gibb@oln.com
X-Mailer: <WinNT's Blat ver 1.5>
Wheaton to sell control position in YGC
BYG Natural Resources Inc
BYG
Shares issued 44,651,985 Mar 19 close
$1.00
Thu 20 Mar 97 News
Release
See YGC Resources Ltd (YGC) News Release
Mr Kerry Knoll reports
YGC has been advised by Wheaton River that Wheaton has signed an
agreement
with BYG Natural Resources for the sale of Wheaton's control position
in
YGC. Wheaton will sell 6,000,000 YGC shares and 2,320,000 YGC warrants
for
$1,580,000 in cash, 438,596 shares of BYG, and a debenture of BYG
of
$200,000 which is convertible into 338,983 shares of Trumpeter Yukon Gold.
In connection with the transaction, BYG and certain investors will make
a
private placement into YGC of $1,000,000 at $0.40 per share which will
be
flow-through shares. Proceeds of the private placement will be used
to
continue exploration programs on YGC's wholly owned Ketza River, Yukon
gold
property, on its 75% Motherlode, BC gold property, and on six YGC owned
and
operated base metal exploration properties in the Finlayson Lake
camp,
Yukon.
The transaction is subject to approvals of the TSE and VSE. Closing of
the
transaction is scheduled to occur in early April, whereupon three of
the
four YGC directors will resign in favour of BYG nominees. Wheaton
will
continue to hold approximately 1.3 million shares of YGC and will focus
its
resources on construction of the Golden Bear heap leach gold mine
in
northwestern BC.
BYG is a Yukon-based gold mining company which has a 100% interest in
the
producing Mt Nansen mine. Trumpeter, a BYG subsidiary, is involved
in
several Yukon gold exploration properties, including those of
Omni
Resources in which Trumpeter is earning a 50% interest.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
Hi Mac D ;-> |
