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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: Little Joe who wrote (60)	3/28/2002 4:52:37 PM
From: long-gone	of 4051

Echo Bay Announces Shareholder Approval EDMONTON, Alberta, Mar 28, 2002 /PRNewswire-FirstCall via COMTEX/ -- Echo Bay Mines Ltd. (Toronto; Amex: ECO) announced that its shareholders today approved the issuance of 361,561,230 common shares to retire 100 percent of the capital securities of the Company. The capital securities were issued in early 1997 and, at December 31, 2001, the principal plus accrued and unpaid interest amounted to US$164.2 million. Interest had been accruing at an annual rate of 12 percent and an interest payment of US$83.8 million would have become due and payable March 31, 2003, leaving the principal balance of US$100 million on which interest would have continued to accrue. The transaction is expected to close shortly. Echo Bay mines gold and silver in North America. The primary markets for its common shares are the American and Toronto stock exchanges. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE Echo Bay Mines Ltd. CONTACT: Lois-Ann L. Brodrick, Vice President and Secretary of Echo Bay Mines Ltd., +1-780-496-9704 URL: echobay.com prnewswire.com Copyright (C) 2002 PR Newswire. All rights reserved. -0- KEYWORD: Alberta INDUSTRY KEYWORD: MNG

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