Major General--MGJ Message Board

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Gold/Mining/Energy : Major General--MGJ

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To: hedger who wrote (761)	11/3/1998 5:54:00 PM
From: kidl	Read Replies (1) of 1707

Major General Resources Ltd MGJ Shares issued 35,650,047 Nov 2 close $0.29 Tue 3 Nov 98 Acquisition The VSE has accepted for filing an option agreement dated Sept. 18, 1998 between 21 claim owners and Major General Resources (the company), whereby the company has the option to earn 100 per cent interest in the Steel River claims by spending $1,000,000 and making cash payments totalling $100,000. As part of the consideration, the company will also issue 200,000 shares over five years. The first tranche of up to 50,000 shares is issuable upon exchange acceptance and the remaining tranches will be issued on an annual basis subject to exchange acceptance of a geological report detailing the exploration work done on the property and recommending further work. The claims are subject to a 2 per cent nsr of which 0.5 per cent may be bought out for $500,000. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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