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Gold/Mining/Energy : Canmine resources

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To: Ralph Kern who started this subject	7/29/2002 10:22:09 AM
From: Amit Ghate	Read Replies (1) of 2769

RIP Monday July 29, 9:49 am Eastern Time Press Release SOURCE: Canmine Resources Corporation Canmine To Seek Restructuring Under CCAA LONDON, ONTARIO--Canmine Resources Corporation (TSX Symbol: CMR - News; "Canmine") announces that it will seek to restructure its financial obligations under the Companies Creditors Arrangement Act ("CCAA"). As part of this process, the company will seek an Order for protection under CCAA before the Ontario Superior Court of Justice. The decision to initiate a restructuring under CCAA replaces an earlier proposal announced on June 18, 2002 that was to involve MFC Bancorp Ltd. ("MFC") pursuant to a non-binding memorandum of understanding. MFC's advisory services or assistance will not be sought under the proposed CCAA restructuring.

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