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Gold/Mining/Energy : Sasamat Capital Corp (Formerly Bresea Resources)
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To: laker2000 who wrote (18)2/24/2006 7:56:18 AM
From: Bob Fairchild  Read Replies (1) of 96
 
Thanks for the time to explain this for me Laker. I received an e-mail from Mr.Murphy which pretty much sums it all up :

Mr... Fairchild, as you will recall Bresea (now known as Sasamat Capital Corporation) filed a Plan of Arrangement pursuant to the Canada Corporation Act, in order to settle all the claims by parties who realized losses trading in Bresea shares at the time the value of BreX shares declined so precipitously. This Plan was subsequently approved by the claimants and the Alberta Supreme Court.
Basically this Plan called for the Claimants to settle their claim by sharing in a pro rata distribution of new shares of Sasamat specifically set aside for the purposes of the Plan. There was never any monies included in the settlement.
The Alberta Supreme Court just recently approved the total amount of claims and the total number of shares to be included in the share pool for distribution to Claimants. Thus your recent receipt of Sasamat shares.

Regards

Lloyd Murphy
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