China diamond properties
Kensington Resources Ltd KRT
Shares issued 23,966,435 Dec 10 close $0.18
Thu 11 Dec 97 News Release
Also Pan Asia Mining Corp (PAR)
Mr David Stone reports
During the period from December 1996 to May 1997, Kensington Resources contemplated an option to acquire a 50% interest in various joint ventures in the People's Republic of China. In preparation, Kensington worked to secure the proper documentation and permit to mine in China but did not exercise its option to buy into the project. However, it agreed to work with Pan Asia Mining to develop an option that would allow for the expeditious recovery of money spent on the project. Pan Asia Mining acquired an interest in the China diamond properties by the issuance of 6,953,846 shares at $3.25. Kensington has agreed to accept 400,000 shares of Pan Asia Mining as payment in full for loan advances made.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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Pan Asia Mining Corp -
Application for assignment of shares filed
Pan Asia Mining Corp PARShares issued 115706501997-12-08 close $0.84Tuesday Dec 9 1997See Olds Industries Inc (OLD) News Release Mr Robert Klein reports The application for the assignment by Olds of two tranches of shares consisting of 300,308 shares and 257,000 shares in the capital of Pan Asia to Pan Asia Resources, arising from Olds' obligations pursuant to a settlement agreement dated July 8 1996 and a pledge agreement dated July 8 1996, has been accepted for filing by the VSE. The assignment of the shares represents a full and final settlement of Olds' obligations to Pan Asia Resources under the settlement agreement and the pledge agreement and Pan Asia has released Olds from any any further obligations to it. The hold period for these shares expires on October 9 1998. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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12/4/97
V.S.E. Notice
Agreement
Further to VSE Notice for Pan Asia Mining Corp. dated October 9, 1997, the Vancouver Stock Exchange has accepted for filing documents whereby Olds Industries Inc. ('Olds') is required to assign its allotment of shares in the capital of Pan Asia Mining Corp. to Pan Asia Resources Inc. (company incorporated in the Bahamas owned by the James Poe Family Trust). Pursuant to a Settlement Agreement dated July 8, 1996 and a Pledge Agreement dated July 8, 1996, Olds Industries Inc. is obligated to assign 2 tranches consisting of 300,308 and 257,000 shares in the capital of Pan Asia Mining to Pan Asia Resources Corp. as repayment for an outstanding debt. |
