From: newsout@canada-stockwatch.com
Date: Fri, 03 Apr 1998 14:27:29 -0800
Subject: Stockwatch: Primero Industries Ltd - Acquisition
To: ajanko@erinet.com
Primero Industries Ltd PMI
Shares issued 9,286,448 Apr 2 close $0.16
Fri 3 Apr 98 Acquisition
The VSE has accepted for filing an agreement dated February 27 1998 between
the company and New Claymore Resources Ltd (insiders: Anthony Rich, D. Sean
Flanagan, Thomas G. Trickett, Andrew Davling Jr, Mary Persson and Robert
Mcorran) with respect to an option to acquire a 50% interest in the Electra
prospect in Alberta. Consideration is a total of $100,000 and the issuance
of 200,000 shares in four tranches of 50,000 shares each. The first tranche
is subject to exchange acceptance of the option for filing, and the balance
of the is subject to the filing of a geological report that summarizes work
completed on the property and recommends further work. In addition, there
is a requirement to expend $4.00 per acre.
Golden Capital Corp will receive a finder's fee of 200,000 warrants for its
part in the negotiation of this transaction. The warrants are exercisable
over two years at $0.18 in the first year and at $0.21 in the second.
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