Does anyone have any comments as to how they think the following news release will benefit Lysander, if at all?
Mark
August 20, 1997
Black Swan Enters Agreement to Purchase 4,000,000 Units in the Capital of Lysander Gold
Corporation
VANCOUVER, Aug. 20 /CNW/ - BLACK SWAN GOLD MINES LTD.
Trading Symbol: TSE - BSW
BERLIN - BSM
FRANKFURT - BSM
Black Swan is pleased to announce that it has entered into an agree, subject to regulatory and
shareholder approvals and to approval of Black Swan's board of directors, to purchase for a price of
$0.15 per unit ($600,000 in the aggregate), 4,000,000 units in the capital of Lysander Gold
Corporation, each unit consisting of one common share in the capital of Lysander and one warrant to
purchase an additional common share of Lysander for two years from closing for a price of $0.20 in
the first year and $0.25 in the second year.
Lysander's assets include the right to acquire an 80% interest in te Passagem gold property in the
south-east section of the gold belt of the Quadrilatero Ferrifero district of the State of Minas Gerais,
Brazil. Black Swan already has a strong property position in the Quadrilatero Ferrifero. The
Passagem property includes the old Passagem underground mine that was one of the first major gold
mines in Brazil. Geologically, it lies at the nose of the Proterozoic Minas Series and has both open pit
and underground exploration targets. Mineralized zones are believed to extend northwest towards
Black Swan's Tesoureiro and Antonio Pereira properties, as well as in the downdip extension of the
old underground mine.
Other assets include the major Jajay copper-gold prospect in British Columbia.
Closing of the transaction will be subject to, among other things, e results of Black Swan's due
diligence examination concerning Lysander being satisfactory to Black Swan. The subscription
proceeds are to be used by Lysander in a manner acceptable to Black Swan. If the transaction is
approved by Black Swan's board of directors, a nominee of Black Swan will be appointed to
Lysander's board prior to closing.
On closing, Black Swan will hold a total of 4,000,000 common sharesd warrants to purchase an
additional 4,000,000 common shares of Lysander which would collectively represent approximately
33% of Lysander's then issued capital on a non-diluted basis.
Lysander is listed on the Vancouver Stock Exchange; however, the pre placement will be an
off-market transaction. The acquisition of shares will be for investment purposes. Black Swan may
decide from time to time in future to increase its ownership of shares in Lysander.
On behalf of the Board
Arthur T. Fisher
President
THE TORONTO STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED
THE CONTENTS OF THIS NEWS RELEASE.
For further information: Investor Relations: (604) 688-2595 |
