Gammon Lake Resources Inc -
CDN listing
Gammon Lake Resources Inc
GAMLShares issued
7,954,122
1998-06-03 close $1.5
Thursday Jun 4 1998
Mr. Fred George reports
The Canadian Dealing Network has approved a visible quotation of the common shares of Gammon Lake. Trading under the symbol GAML will be available effective May 26, 1998. Gammon Lake is a public company formed for the purpose of the acquisition, exploration and development of mineral properties throughout the world.
Between 1994 and 1997, Gammon Lake acquired a total of 361 claims in several areas of Nova Scotia for the purpose of exploring and developing the economic viability of low grade, large tonnage, gold deposits within the Meguma group.
In addition, claims were also acquired for gold and base metals within Devon-Carboniferous at North Ogden and Northport, which lie outside the Meguma group. Gammon Lake has acquired interests in two mineral claims, the La Cuesta Claim (100 per cent interest) and the Santa Maria Claim (90 per cent interest), in the municipality of Chinipas in the State of Chuhuahua, Mexico.
Gammon Lake is developing exploration programs for its properties and has $750,000 in working capital. Gammon Lake has now approximately 8.0 million shares outstanding of which 35.2 per cent are held by management. There are a total of 1,984,875 warrants issued and outstanding, each whole warrant entitling the holder to acquire one common share for 30 cents exercisable until Oct. 15, 1999.
Fred George is the president and Bradley Langille is CEO. The board of directors consists of Mr. George, Mr. Langille, Burton Langille, R. Daren Baxter, Terence Coughlan, Keith MacGillvray and C.R. (Ted) Worthington.
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