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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.38

+0.1%

Nov 19 3:59 PM EST

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To: David R. Schaller who wrote (3338)	4/19/1999 2:12:00 PM
From: RonS	Read Replies (2) of 4066

David, Can share consolidation (1 for 20) be viewed as good news??? Mongolia Gold Resources Ltd. MGR Shares issued 24,718,685 Apr 15 close $0.08 Mon 19 Apr 99 News Release Mr. Roger Sylvestre reports E.G. (Ted) Kennedy, chairman and CEO of the company, J. (Seamus) McGlynn and L.J. (Lu) Manning will not stand for re-election at this year's annual general meeting in May. Their contributions as founders of the company are incalculable, both on the technical and inancial side of the company. The company looks forward to their continued support in an indirect manner in the future. G. (George) Malby and A.W. (Alan) Tambosso will stand for election at this year's AGM. Mr. Malby has been a director and senior officer of public companies and is active in the real estate finance market and is currently president of Future Financial Corporation. Mr. Tambosso has been a senior officer of a publicly listed company. He left to form his own private company which was recently merged with an Alberta Stock Exchange-listed company. He is currently a senior vice-president and has been nominated as a director of this ASE-listed petroleum company. The company is seeking approval from shareholders for a share consolidation. The proposed one for 20 consolidation would result in 1,342,112 shares issued. The consolidation would enable the company to seek financing and to proceed on its other projects. The company will also seek approval for a name change. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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