GOLDEN HORSESHOE...major new gold find???
JUST KIDDING...
Below is the unedited news release. Frankly I don't care where this company derives its income, just as long as it makes money. Sounds like Dakota will have a continuous cash flow from this acquisition to develop their gold properties south of the border.
====================================================================== PRESS RELEASE - April 11, 1997
FOR IMMEDIATE RELEASE
Dakota Signs Agreement to Exploit Properties
in the "Golden Horseshoe" Just North of Toronto
DAKOTA RESOURCES LIMITED (the "Corporation") trading on The Alberta Stock Exchange (DAK) announces that it has entered into a binding letter of intent with CRAV Enterprises Ltd. of Everett, Ontatio to extract "Grade A" gravel, premium masonry and washed sands and other material from their properties in the Township of Tosorontio which are situated 40 minutes north of Pearson International Airport and 45 minutes north of the city of Toronto, Ontario.
Dakota also will acquire an option from CRAV Enterprises Ltd to purchase the properties which it may use for land development, in particular, luxury housing, golf course/complex, multiple recreational opportunities, and retirement communities.
This apparent change in corporate direction was actually designed to augment the Corporation's mining exploration and development activities. Dakota's entry into the "Golden Horseshoe", the burgeoning real estate and commercial development market just north of Toronto, will increase its cash flow when sales commence and will immediately and substantially increase the asset side of the Corporation's balance sheet without incurring current liabilities.
Honda Corporation of Canada which has a plant within five miles of the properties, has just opened a second plant in the area and a third facility for four wheel drive vehicles will also be located in the area.
Upon depletion of the aggregate, the optioned properties will have increased value for real estate opportunities. The properties have abundant supplies of water and the preliminary report that the Corporation has received proposes the re-zoning of the properties for a subdivision component that would attract the massive numbers of Toronto Area baby boomers that will be retiring in the next decade. The area is a rural, open space, picturesque setting, in close proximity to not only Toronto but also Blue Mountain/Horseshoe Valley, as well as within ten miles of both Loretto and Mansfield ski resorts.
CRAV Enterprises Ltd is currently negotiating the acquisition of several additional properties in the "Golden Horseshoe". In addition, Dakota is in the final stages of negotiating a "turnkey price" witb a contract processor that should be completed by the end of next week. At that time the Corporation will provide full and final details of all of its transactions.
This transaction is subject to the approval of The Alberta Stock Exchange and The Alberta Securities Commission.
For further information regarding the Corporation please contact:
Mr. J. Robert (Bob) Bateman
Telephone (403) 22E-7715
Fax (403) 221-7717
======================================================================
Regards,
Don |
