JED,
I see you post from time to time....nothing like the old pre-BRE-X days. Remember this shining star? I don't hold any but do keep up with their news releases. Looks like they are throwing in the towel on mining and going for the DOT COM big bucks. I don't know who this new guy is but since most DOT COMs are all hype, maybe we will see this baby run. He is in at .20 so maybe buying a few shares in that range would bring an easy double. Any thoughts??
Best of Luck,
Ross
Pacific Amber to invest in technology companies
Pacific Amber Resources Ltd PCR
Shares issued 15,287,146 Feb 11 close $0.22
Mon 14 Feb 2000 News Release
Mr. Hiro Ogata reports
The company has decided to focus on a strategy of investing in early stage
technology companies with an emphasis on Internet-related technologies. The
company has in excess of $2-million in cash with no debt.
As previously announced in Stockwatch, the company's Indonesian property
has been farmed out to Placer Dome in return for a sliding scale royalty of
2.5 per cent at $250 per ounce gold to 4.5 per cent at $450 per ounce.
Placer Dome's geologists are very upbeat on the property's potential. The
company has little further financial exposure.
This situation allows the company to exploit the rapidly evolving
technology arena. The company's strategy will be to invest capital in
several small technology companies. The company sees tremendous
opportunities particularly in Vancouver. The Internet-related industry is
blossoming in Western Canada because of its low costs, especially for
well-trained, high-tech, computer and Internet oriented people, as compared
with the astronomical cost of living and doing business in technology
centres such as Silicon Valley in California.
To this end, the company is pleased to announce the appointment of Thomas
O'Brien to the company's advisory board. Mr. O'Brien has a background in
technology and holds an MBA in finance. He is a former equity analyst with
Merrill Lynch in New York and is currently a private money manager. He has
extensive experience in financing and developing businesses.
Mr. O'Brien and his clients currently hold approximately 1.3 million shares
of Pacific Amber's stock.
The company has granted to Mr. O'Brien an option to purchase 300,000 shares
at a price of 20 cents per share, exercisable for a period of two years.
Certain directors and employees have agreed to cancel their incentive stock
options for a total of 340,000 shares.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com |
