Dynamix Corp (DYX was Dakota Resources, DAK) Message Board

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Gold/Mining/Energy : Dynamix Corp (DYX was Dakota Resources, DAK)

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To: Robert Saito who wrote (84)	11/21/1996 5:27:00 PM
From: Robert Saito	of 587

DAKOTA NEEDS TO COMPLETE WORK ON GOLD PROPERTIES IN MEXICO AND BOLIVIA TO QUALIFY FOR MAJOR FUNDING CALGARY, ALBERTA -- AUGUST 06, 1996 - DAKOTA RESOURCES LIMITED trading on the Alberta Stock Exchange (ASE) is pleased to announce that it has been informed by a NY- based investment banking house that its Mexican and Bolivian mining projects have been reviewed and approved for a major US-based underwriting of the Corporation's Common Shares, subject to the completion of an interim financing designed to prove up the full extent of the gold reserves on the respective properties and establish the most efficient system of mining to maximize return. This latest development is further to Dakota's July 25th release that indicated that the Corporation was holding such discussions. Details of the proposed financing will be released after Dakota satisfies the above mentioned conditions and enters into a formal investment banking relationship. The proposed placement and sale of US$10-15 million of the Corporation's Common Stock would be on a "best efforts" basis and would not involve more than a 25% dilution to Dakota. If Dakota agrees to the proposed financing, it would apply to list on NASDAQ, continue to trade on the Alberta Stock Exchange and would agree to comply with all listing requirements of the respective exchanges, as well as the requirements of the Securities and Exchange Commission under the Securities Act of 1933 as amended. Dakota's Bolivia and Mexico properties are attractive because they are expected to be highly commercial and can be placed into production within 45-90 days. (This off the newswire. What do you think, Don? RS)

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