He's right and the SI link has it!!!!!! Great news I think.
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Golden Eagle International, Inc. Agrees to Settle SEC Civil Action
Business Wire - February 04, 1999 12:05
DENVER--(BUSINESS WIRE)--Feb. 4, 1999--Golden Eagle International, Inc. ("GEI") (trades pink sheets: MINE) today announced
that it has entered into an agreement with the staff of the Central Regional Office (Denver, Colorado) of the Securities and Exchange
Commission (the "SEC") to settle a civil action brought by the SEC against GEI.
The agreement is not binding on the full Commission, but will be submitted to the SEC in Washington, D.C. for approval. If approved by the
SEC and the Court, GEI will be dismissed from the action entitled, SEC v. Golden Eagle International, Inc., et al. pending in the United
States District Court for Colorado.
GEI has agreed to consent to the entry of a final judgment against it in that civil action "without admitting or denying any of the allegations in
the SEC's complaint." When finalized, the Court will enter final judgment against GEI "restraining and enjoining it from engaging in
transactions, acts, practices, and courses of business which constitute or would constitute violations" of specific sections of the Securities
Act of 1933 and the Securities Exchange Act of 1934. The individuals named in the SEC's complaint, including GEI's two current directors
and officers, are continuing negotiations with the staff of the SEC's Central Regional Office for the resolution of the civil action against them.
If approved by the SEC and the Court, the agreement will not result in any monetary fine or penalty being assessed against GEI, and GEI
will be able to pursue its business without the specter of the litigation.
GEI's president, Terry C. Turner, commented from the Company's offices in Bolivia:
"This is a very important day for Golden Eagle and its shareholders. The Company steps out from under a shadow and resolves all questions
raised by the staff of the SEC. Golden Eagle's management is committed to timely and accurate reporting, to seeing the Company through
the current extremely low prices in the minerals industry, and to the eventual development of its Cangalli, Bolivia gold prospect as described
in Golden Eagle's annual report on Form 10-K and subsequently-filed reports under the Securities Exchange Act of 1934."
Golden Eagle International, Inc. is a Denver-based gold mining and exploration company. The Company is currently focusing its efforts on
developing its mining rights in Cangalli, Bolivia. For more information about the Company, call Sabrina Martinez at (303) 694-6101 or Guy
Murrel at (303) 581-7760. Media inquiries should be directed to Richard Pinto at (212) 688-8599.
CONTACT: Golden Eagle International, Inc., Denver
Guy Murrel, 303/581-7760
Richard Pinto, 212/688-8599 |
