Swannell-SNL.VSE Diamonds in Forte a la Corne Sask.Canada. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Swannell-SNL.VSE Diamonds in Forte a la Corne Sask.Canada.

GBR 0.839

+3.6%

Jan 12 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: pat mcvay who wrote (14)	1/31/1997 9:47:00 PM
From: Ron Waller	of 48

Pat and all. Here is TODAYS NEWS Release! -------------------------------------------------------------------------------------------------------------- Shareholder approval sought for consolidation, increase in authorized capital, name change Swannell Minerals Corp SNL Shares issued 19,021,935 Jan 30 close $0.29 Fri 31 Jan 97 News Release Mr John Mooney reports At an extraordinary general meeting to be held in March, shareholders will be asked to approve a share consolidation, increase in authorized capital and change of name to Globenet Resources Inc. The company proposes to alter its authorized capital by consolidating its share capital on the basis of one new share for every 10 presently held shares. Management is of the opinion that in order to finance the company over the next stages of development a stock consolidation is an absolute necessity. Without this consolidation the further raising of capital to continue the operations, work programs and acquisitions would become impossible. The company intends to continue to raise capital by issuing shares and attempting to joint venture properties when advisable. However, it is not always in the best interests of the company to joint venture projects until the company has completed enough work to substantially enhance the value of the properties before entering into a joint venture. However, if the company is constrained from issuing share capital because there is not enough share capital available, or if there is too much dilution and the share price does not accurately reflect the true value, the company and its shareholders suffer. -------------------------------------------------------------------------------------------------------------- Well, whats everyones thoughts out there? I had Cliff Resources a few years back and it did a name change to Mineral Resources and after a few months.... BOOM off she went and I made money $$$$. Got out too soon actually, cause I lost some faith in the story. But I still like this one. What do the rest of you think??? Good Luck, Ron.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next