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Gold/Mining/Energy : AURADO EXPLORATION(AEO)

AEO 16.63

-0.4%

10:53 AM EST

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To: Frank Moss who wrote ()	6/8/2000 9:49:00 AM
From: Buckey	of 222

Aurado plans to acquire Paytel Aurado Exploration Ltd AEO Shares issued 45,893,610 Jun 7 close $0.36 Thu 8 Jun 2000 News Release Mr. John Pollock reports Aurado Exploration has signed a letter of intent with Paytel Canada Inc. for the purchase of the common shares of Paytel by way of plan of arrangement in which Paytel and Aurado will be amalgamated. The parties anticipate signing a definite merger agreement on completion of due diligence, the approval of regulatory bodies and finalize the transaction with the approval of shareholders at meetings to be held in late July. At the closing of the transaction the name of the company will be changed. Paytel Canada is the largest privately owned public payphone operator in Canada and operates from offices in Montreal, Toronto, Markham, Edmonton and Vancouver. Paytel is the controlling shareholder of National Electronic Technologies Corp., which is the leading provider of public access Internet terminals. Paytel is presently evaluating other expansion opportunities in various segments of the telecommunications industry. This agreement is conditional upon approval of the Toronto Stock Exchange, shareholders of both firms and other regulatory approvals.

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