Hello Al: How are ya doin? Any thoughts positive or negative.Good Dayyyyyy Ronald
B.Y.G. Natural Resources Inc.
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SH News News Release 4/1/98 14:55 91173
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B.Y.G. Natural Resources Inc. Announces Private Placement
B.Y.G. NATURAL RESOURCES INC.
(TSE - BYG) is pleased to announce the election and appointment of new Board
members and new officers.
At the Annual General Meeting held yesterday and the Board meeting held
immediately afterwards the size of the Board of Directors was fixed at six,
comprised of the following: Robert Bryce, Robert Chafee, Graham Dickson,
Pascal Renardet, Bryan Rowntree and Alan Thompson.
Officers were appointed as follows: Chairman and C.E.O. Robert Chafee,
President and C.O.O. Graham Dickson, Secretary and Vice President Operations
Pascal Renardet, Vice President Mining Brad Thiele, Vice President Exploration
Robert Stroshein.
The change in Board make up was agreed to facilitate a financing of
$3,165,000 by way of private placement. The private placement consisted of
the issuance of 10,433,334 units of one common share and one common share
purchase warrant each. Each warrant entities the holder to acquire one common
share at a price of $0.37 on or before March 12, 2002.
/
Proceeds from the private placement amounting to $3,165,000 will be used
to undertake a major exploration and drilling programs, starting in early
April 1998, to delineate additional oxide ore reserves on the Mount Nansen
Mine Property in the Yukon Territory and for working capital purposes.
The Mt. Nansen operation is back into production and delivered its first
gold and silver for sale last week. The operation has taken delivery of the
pumps required to satisfy all of its operational requirements and which will
allow it to mill at its designed capacity.
Shares of B.Y.G. Natural Resources Inc. trade on the Toronto and Alberta
Stock Exchanges under the symbol BYG; U.S. S.E.C. Exemption: 12g3-2(b)
No.82-2038.
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