Wallace M. Mays, President and Chief Operating Officer of World
Wide Minerals Ltd. Announces Acquisition of Common Shares
Business Wire - March 09, 1998 12:03
%WORLD-WIDE-MINERALS WWS. %MINING %METALS V%BW P%BW
TORONTO--(BUSINESS WIRE)--March 9, 1998--World Wide Minerals (TSE:WWS) Wallace M. Mays, President
and Chief Operating Officer of World Wide Minerals Ltd. (TSE - WWS) announced today that he had acquired an
aggregate of 6,400,000 common shares of World Wide in private transactions.
The shares came in part (1,000,000 shares) from the holdings of Dundee Bancorp Inc. and its affiliates in World
Wide. These shares, when taken together with an additional 7,631,415 common shares purchased by other members
of World Wide senior management from Dundee Bancorp and its affiliates, to the knowledge of Mays represented the
sale of the entire holdings of those companies in World Wide. The balance of the shares purchased came from the
sale to World Wide of additional interests in the Dornod uranium mine in Mongolia (2,200,000 shares) and the
balance (3,200,000 shares) from the settlement in full of a note receivable from World Wide in the amount of
approximately Cdn$1,050,000, including accrued interest.
When all of these transactions are aggregated with 1,200,000 common shares already held by Mays these
transactions increased his direct and indirect holdings to a total of 7,600,000 common shares of World Wide,
representing 13 percent of the 58,439,225 common shares currently outstanding. Mays also holds options to
purchase an additional 150,000 common shares of World Wide under the Company's employee stock option plan.
Mays stated that the shares were purchased for investment purposes and that he had no present intention to acquire
additional shares but that he may do so at any time. There are no persons acting jointly or in concert with Mays in
connection with the voting of any shares of the Company.
CONTACT: World Wide Minerals Ltd.
Wallace M. Mays, 303/831-8861
303/831-8432 (FAX)
Email:wmmining@aol.com
Web Site: www.worldwideminerals.com |
