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Gold/Mining/Energy : Maracote International Resources (VSE: MCE)
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To: charred who wrote (315)2/6/2001 11:31:00 AM
From: Walter Kalin  Read Replies (1) of 339
 
Maracote not to proceed with acquisition

Maracote International Resources Inc MCE
Shares issued 28,151,398 Feb 17 close $0.30
Mon 5 Feb 2001 News Release
Mr. Chet Idziszek reports
Further to news in Stockwatch July 7, 2000, and Maracote's news release
Dec. 13, 2000, Maracote International Resources will not be proceeding with
the proposed acquisition of all of the issued shares of Grenwill Ltd. as a
result of market conditions which preclude the financing of Grenwill at
this time. It was a condition of the acquisition that Maracote provide
financing of $2.8-million (U.S.) at the time of closing the acquisition.
In light of this development, Maracote has applied to the Canadian Venture
Exchange for the resumption of trading of its common shares.
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