The revised version with the correction as to the size of the acquisition is as follows:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: COLUMBIA YUKON RESOURCES LTD.
ASE SYMBOL: CYR
APRIL 14, 1998
CORRECTION FROM SOURCE: Columbia Yukon Resources: Alberta
Diamond Property Acquisition
VANCOUVER, BRITISH COLUMBIA--CORRECTION FROM SOURCE:
In the news release transmitted earlier today (April 14, 1998) for
COLUMBIA YUKON RESOURCES LTD., a phrase was left out of the first
paragraph.
The complete and corrected version follows:
Columbia Yukon Resources Ltd. (the "Company") wishes to report
they and Consolidated Venturex Holdings Ltd. ("CVA") have entered
into an agreement to purchase, each as to a 50 percent interest,
certain metallic and industrial mineral permits, representing
43,648 hectares (107,852 acres), submitted to Alberta Energy from
Raynard William Howarth ("Howarth") for a total consideration of
$67,000.
Under the terms of the agreement, the purchase price consists of a
one time cash payment of $10,000 payable by the Company and an
aggregate of 100,000 common shares of the Company and 100,000
common shares of CVA. Under the agreement, Howarth will retain a
2.5 percent net diamond royalty, and the Company and CVA have the
right to purchase 1 percent of the diamond royalty for $1,000,000.
This transaction is subject to regulatory acceptance.
ON BEHALF OF THE BOARD OF DIRECTORS
DOUGLAS L. MASON, PRESIDENT
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Columbia Yukon Resources Ltd.
Douglas L. Mason
President
(604) 683-3070
(604) 683-2308 (FAX)
Toll Free: 1-888-888-9122 CDN, 1-888-888-9123 USA
Website: columbiayukon.com
The Alberta Stock Exchange nor any other regulatory body has
reviewed this news release and therefore do not accept
responsibility for the adequacy or accuracy of this release.
INDUSTRY: PCS
SUBJECT: TMN |
