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Gold/Mining/Energy : PNL- ASE- (PNL.AL)Pender Capital Corporation

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To: tide who wrote (75)	12/21/1998 5:28:00 PM
From: Saverio	of 109

December 21, 1998 PENDER CAPITAL CORP. ("PNL-Y;PNDCF-L") - Pender & Granigroupe Agree To Extend Period To Jan 15, 1999 PENDER CAPITAL CORP., whose business is the exploration, quarrying, processing and distribution of industrial minerals, is pleased to announce that, following its exclusive agreement to purchase up to 100% of Granigroupe Inc. and further to News Releases dated October 2 and December 1, 1998, Render Capital Corp. and Granigroupe Inc. have agreed to extend this period to January 15, 1999 in order to negotiate the definitive terms of the transaction. Gilbert Kang, President and CEO of Pender Capital Corp. mentions: "I can proudly state that both parties are pleased with the outcome of this initial period of talks wherein we have built a strong and mutual ground of understanding and are able to proceed with the finer points of our negotiation, that we may tender our formal proposal in the coming weeks. Both parties remain committed to this transaction and look forward to growth and the implementation of our common strategies in 1999". TEL: (888) 244-7722 Gilbert Kang, President E-mail: pendercc@uniserve.com

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