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At Legg Mason we dedicate significant thought and resources to assembling research teams in selected industries; the objective of each team is to identify trends that represent the greatest opportunity, and then to select companies that stand to benefit most from the evolution of those trends.
Expanding Legg Mason's traditional value approach, the Research Department has broadened its coverage to include growth industries located in our primary markets: telecommunications, technology, the Internet (and electronic commerce), the life sciences, healthcare, and educational services.
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Birch Mountain Resources Ltd -
Birch Mountain engages Legg Mason as financial adviser
Birch Mountain Resources Ltd BMD
Shares issued 30,733,825 2000-04-27 close $1.8
Friday Apr 28 2000
Mr. Douglas Rowe reports
Birch Mountain Resources has engaged Legg Mason Wood Walker as a financial adviser. Legg Mason will provide Birch Mountain with advisory services on developing a corporate financial and capital structure, strategic corporate objectives, a public U.S. market strategy and future financing options.
Legg Mason Wood Walker, Inc., is the principal broker-dealer subsidiary of Legg Mason, Inc., a publicly traded holding company headquartered in Baltimore, Md. Legg Mason provides investment advisory, securities brokerage, investment banking and related financial services through its wholly owned subsidiaries. Assets under management by Legg Mason, Inc. exceeded $104-billion at Dec. 31, 1999.
Birch Mountain has developed the Prairie Gold model and new technology to explain the presence of precious metals on its two million-acre Athabasca property in northeastern Alberta. After more than five years and $15-million in research and exploration expenditures, Birch Mountain believes it has defined the origin and the nature of the mineralization occurring in this area. Birch Mountain is filing appropriate applications to protect its proprietary technology.
"At this important juncture in Birch Mountain's advancement of our Prairie Gold project in Athabasca, we are very pleased to have engaged Legg Mason to assist us with our go-forward strategy," said Doug Rowe, president and chief executive officer of Birch Mountain. "Legg Mason's investment banking expertise and advice in developing strategic corporate objectives will enable us to capitalize on our leadership position in precious metals exploration and apply our innovative technology to unlocking the wealth of our Athabasca property. In turn, this will maximize benefits to Birch Mountain's shareholders," he concluded.
The company reports that 1,331,115 warrants that were issued pursuant to a private placement announced on April 13, 1999, were exercised and that the company currently has approximately $4-million of working capital.
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