Home - Yahoo! - Help
[ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire ]
Tuesday August 25, 9:01 am Eastern Time
Company Press Release
North American Exploration
Corporation Announces New Transfer
Agent, Certificate Exchange Procedure and
Cancellation of Shares Issued to Tridon Enterprises
Inc. -OTCBB:TEIM- as Nominee for a Former
Director
SALT LAKE CITY--(BUSINESS WIRE)--Aug. 25, 1998--North American Exploration
Corporation (NAMX)(OTCBB: NAMXD - news) has recently appointed Interwest Transfer
Company, Inc., as the Company's new transfer agent, replacing Holladay Stock Transfer,
Inc. Interwest's offices are located at 1981 East Murray Holladay Road., Suite 100, Salt
Lake City, Utah, 84117-5126.
NAMX is working with the DTC and Interwest Transfer Company, Inc. to re-register share
certificates held in the name of the DTC's nominee so that the certificates will be held in
the name of the participating broker/dealer who lodged the shares with the DTC. We
anticipate that this process could take two weeks or longer.
To exchange old shares for new post-reverse-split shares, NAMX investors and brokers
holding NAMX stock certificates are advised to send their certificates by registered mail to
Interwest at the above address. The exchange will end on October 10, 1998. Evidence of
ownership must accompany all certificates submitted for exchange as indicated in our press
release of July 31, 1998. The most conclusive form of ownership is proof of payment.
Refer to our website for additional instructions relating to the exchange and acceptable
proofs of ownership.
After careful consideration, The Board of Directors has determined that the Company did
not receive adequate consideration in money or money's worth to support the issuance of
20,550,000 pre-reverse-split shares to Mr. Paul Ebeling, a former director. Pursuant to the
Company's bylaws and Florida corporation statutes, the Board has directed that all such
shares provided to Mr. Paul Ebeling and issued to his nominee, Tridon Enterprises Inc.
[OTC BB:TEIM - news], be immediately canceled.
The Company estimates that there are approximately 1.24 million post-reverse-split shares
outstanding. The Company is continuing its efforts to identify all outstanding shares for
which it has not received appropriate consideration.
The board believes that the above information is accurate at the date of this press release,
but makes no assessment or recommendation as to its materiality, or any effect that it may
have on the future results of the company or on the company's share price.
Contact:
Company Contact:
Joyce Miller
North American Exploration Corp., Salt Lake City, Utah
Voice: (801) 366-4771
Fax: (801) 366-4779
or
Investor Relations Contact:
ML/Communications
Voice: (716) 442-2790
Fax: (716) 442-3227
NAMX Website: namx.com.
More Quotes
and News:
North American Exploration Corp (OTC BB:NAMXD - news)
Tridon Enterprises Inc (OTC BB:TEIM - news)
Related News Categories: oil/energy |
