VANCOUVER, Aug. 11 /CNW/ - Black Swan Resources Ltd. (``Black Swan'')
reports that, as it has not yet received the US$2,200,000 due to it from the
recent sale of a 79 carat pink diamond in which it invested US$2,000,000 in
July 1999, it is taking steps to enforce the security it holds. Mr. L. Giglio,
who is a director of the Company and the ultimate owner of 24,639,313 of its
common shares, has guaranteed payment of the amount due. Mr. Giglio has
pledged all of his shareholding. Of this, the Company currently holds a share
certificate for 23,066,116 common shares.
Black Swan has appointed Canaccord Capital (Europe) Limited as its
financial adviser to assist with the disposition of the security. |
