I guess this is plan B:
Golden Hemlock Explorations
GHE
Shares issued 7128326
1997-11-28 close $0.3
Monday Dec 1 1997
Mr Ian Brown reports
At the company's annual general meeting of November 28 1997 Mr Jeffrey
Abbas, Mr Lawrence Barr, Mr George Brazier, Mr Koy Diepholz, Mr Dalton
Dupasquier, Mr Robin Forshaw and Mr Ronald Tammekand were elected as
directors. At the following directors' meeting, Mr Forshaw was re-appointed as
president and Ian Brown as secretary of the company.
Pursuant to recently announced policies of the VSE, the company will be making
application to amend the exercise price of 3,633,336 existing outstanding warrants
to the amended price of $0.35 per share as follows: in respect of 433,336
warrants currently exercisable at the price of $0.55 with an expiry date of
December 13 1997; in respect of 200,000 warants currently exercisable at the
price of $0.625 with an expiry date of April 30 1998; and in respect of 3,000,000
warrants currently exercisable at the price of $0.55 until December 13 1997 and
then at $0.6325 until the expiry date of December 13 1998. The company will
also make application that the expiry date of the 433,446 warrants at $0.55 be
extended by one year to December 13 1998. The company hopes that reducing
the exercise price of these warrants, if approved, will facilitate the exercise, in due
course, of the warrants and generate proceeds to be applied principally to its
ongoing exploration programs at the gold project at San Jose de Gracia, Sinaloa
State, Mexico.
The company has agreed to amend the existing exercise prices of incentive stock
options held by officers, employees and directors in respect of 1,575,000 shares,
exercisable at prices between $0.69 per share and $1.07 per share, to the
amended price of $0.35 per share.
The company advises that it will make application to regulatory authorities to
change the date of its fiscal year end from February 28 to December 31. This will
coordinate the fiscal year end of Golden Hemlock Explorations Ltd, a BC
company, with that of its Mexican subsidiary, Minera Finisterre SA de CV. |
