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Medinah Energy Changes Name, Creates New Subsidiary and Declares
Dividend
Business Wire - April 29, 1999 15:06
LAKE ELSINORE, Calif.--(BUSINESS WIRE)--April 29, 1999--
In response to recent major discoveries on Medinah's Chilean properties known as Alto de Lipangue and Las Dos Marias, the
Company's Board of directors initiated the following actions:
1. By authority given the Board of Directors at the 1997 Annual
Shareholders meeting, the Company's name has been changed to
Medinah Mining, Inc. Amendments effecting the name change are
being filed and a new CUSIP number will be requested.
2. On April 21, 1999 the Company formed a wholly owned subsidiary
called Medinah Gold, Inc. authorized at 100,000,000 common shares
at .001 par and 50,000,000 preferred shares at .001 par. The law
firm of Michael Morrison in Reno, Nevada has been engaged to file
documents with the Securities Exchange Commission to register
Medinah Gold, Inc.
3. By action of the Board of directors on April 28, 1999, all assets
of Medinah Energy, Inc. -- except the Alto de Lipangue and Las
Dos Marias properties -- are to be sold to the wholly owned
subsidiary, Medinah Gold, Inc.
Accompanying the above action, the Board of Directors declared the following dividend:
1. Each holder of common shares in Medinah Mining, Inc. (formerly
Medinah Energy, Inc.), will receive 1 share of Medinah Gold, Inc.
for each 10 shares held of Medinah Mining, Inc. and each
preferred shareholder shall receive 1 share of Medinah Gold, Inc.
for each 2.5 preferred shares of Medinah Mining, Inc. (formally
Medinah Energy, Inc.).
Shares received as dividends will be restricted under State and Federal securities laws.
Medinah Mining, Inc. dividend share record date was fixed at May 7, 1999.
On behalf of the Board of Directors
Per: Larry Regis, President
For further information, contact RGM Communications Inc. at 1-800-547-9375 or access the web site at
http:/www.medinahenergy.com/
CONTACT: RGM Communications Inc.
800/547-9375
http:/www.medinahenergy.com/ |
