1,600,001 shares for a single $160,000 loan ($.10/share)?
KENSINGTON RESOURCES LTD. ("KRT")
NOTICE TYPE: Shares for Debt
NOTICE DATE: January 7, 1999
The Vancouver Stock Exchange has accepted for filing the Company's proposal to issue 1,341,991 shares at a deemed price of $0.15 per share to settle outstanding debt as follows:
Creditor Price Shares Amount Owing
Camvest Holdings Inc.
(Campbell D. Gardiner) $0.15 1,066,667 $160,000.00
G. Clive Newall $0.15 91,719 $13,757.83
Bailey Geological Consultants (Cda) Ltd.
(David Bailey) $0.15 51,937 $7,790.49
CM Oliver & Company Ltd. $0.15 131,668 $19,750.27
The Company shall issue a news release when the shares are issued and the debt extinguished.
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KENSINGTON RESOURCES LTD. ("KRT")
NOTICE TYPE: Issuance of Share Purchase Warrants
NOTICE DATE: January 7, 1999
The Vancouver Stock Exchange has approved the issuance of 426,667 non-transferable warrants convertible into common shares of the Company at a price of $0.15 per share for a period of sixteen (16) months to Camvest Holdings Ltd. (Campbell D. Gardiner, as to 320,000 warrants) and David H. Stone (as to 106,667 warrants) pursuant to a loan arrangement of June 1997. The issuance is in consideration of a non-interest bearing loan in the amount of $160,000.
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