CORNUCOPIA RESOURCES CNP.t Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : CORNUCOPIA RESOURCES CNP.t

CNP 39.18

+0.8%

1:46 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Lhn5 who wrote (166)	5/6/1998 1:01:00 PM
From: Debt Free	of 336

Here is the article Tuesday April 21, 8:14 pm Eastern Time Company Press Release Announcement: Re Mineral Ridge Resources Inc. VANCOUVER, British Columbia--(BUSINESS WIRE)--April 21, 1998-- Cornucopia Resources Ltd. reports that it has been notified by its bankers Dresdner Kleinwort Benson (Dresdner) that, effective May 1, 1998, the bank intends to declare Cornucopia's wholly-owned subsidiary Mineral Ridge Resources Inc. (MRRI) in default pursuant to the loan agreement between Dresdner and MRRI dated Jan. 17, 1997. Dresdner reserves its rights to foreclose on MRRI's assets and enforce Cornucopia's guarantee. Dresdner has advised Cornucopia that it believes that prompt cooperative action could result in fulfillment of the obligations to the bank as well as preserve some value for equity. Cornucopia is therefore continuing with its efforts to arrange a corporate merger which would bring both physical and financial resources to Cornucopia's operations and it is expected that a proposal will be presented to the bank shortly. In the meantime, crushing and leaching of ore is continuing at the Mineral Ridge Mine and plans are underway for the resumption of the drilling program at the Ivanhoe property in the Carlin Trend, Nevada. ON BEHALF OF THE BOARD OF DIRECTORS (signed) Andrew F. B. Milligan President and CEO

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next