Standard Mining Corp -
Twin Gold's Atlanta-ex Rollke in loan suit
Standard Mining Corp SDM
Shares issued 0 1999-09-20 close $0.225
Monday Sep 20 1999
See Twin Gold Corp (TWG) Street Wire
by Brent Mudry
Former Atlanta Gold director Karl Rollke faces suit over a $100,000 loan made by former Atlanta Gold employee Antonios Kripotos. In a statement of claim filed Friday in the Supreme Court of British Columbia, Mr. Kripotos claims he made a $100,000 demand loan on Dec. 7, 1990, which Mr. Rollke formally acknowledged with a promissory note on April 11, 1994. The suit notes Mr. Kripotos served 10-day repayment notice on Aug. 17, but Mr. Rollke has neglected or refused to repay the loan. Mr. Kripotos's lawyer Howard Rubin seeks $100,000, plus interest over the period of the loan. The interest rate is based on Bank of Montreal's prime rate. No statement of defence has yet been filed. Atlanta Gold merged with Voisey Bay Resources to form Twin Gold in April of 1997.
Mr. Rollke's other recent affiliations include stints as a director of Coleville Resources in 1996 and Quest International Resources, ending in 1997. Quest changed its name to Standard Mining in June, after a consolidation of five old shares for one new share. Mr. Rollke's son Adrian, 30, a former director of Atlanta and Quest, currently serves as a director of PetroReal Oil. Adrian Rollke is currently a director of Asia Pacific Enterprises, which is provided with office space, equipment and management services by CEBU Holdings, a company owned by father Karl. PetroReal, Atlanta and Quest associate Owen Granger is also a director of Asia Pacific, which is listed on the OTC Bulletin Board market.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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