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Gold/Mining/Energy : PNL- ASE- (PNL.AL)Pender Capital Corporation
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To: Gary K who wrote (104)4/4/1999 7:05:00 PM
From: tide  Read Replies (2) of 109
 
This is probably the news you want to read:

Pender Capital Corp PNL
Shares issued 16,685,229 Mar 30 close $0.50
Wed 31 Mar 99 News Release
Mr. Gilbert Kang reports
Further to its news release in Stockwatch, Feb. 3, 1999,
announcing the
execution of a memorandum of understanding regarding
Granigroupe Inc. and
related companies, the company is continuing its efforts to
complete a
formal agreement with the Robitaille family for this transaction.
The company has accepted the resignation of Hun Kim from
the board of
directors. Mr. Kim wants to pursue his geological consulting
business at
this time.

My understanding of this is that it need not be of great concern re Pender as it is common that a director may often wish to take theirself in another direction when there is a major re-structuring of a company. There can be many possible implications, such as members of the Robitaille family may wish to become directors or shares may be transferred as part of the new agreement.

I have no direct knowledge of any details but this is a very major change of Company operations & probably details of financing are of paramount importance. When/if that gets satisfactorily sorted out, we should see some good Company outlook. It certainly seems many investors still have some doubts in that regard. At .50 or under, we will see some tremendous gains, when financing looks comfortable, IMO.
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