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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Alan Vennix who wrote (8834)	8/10/1999 7:28:00 PM
From: Scott Wheeler	Read Replies (1) \| Respond to of 11603

Alan or anyone - what the heck is a "reverse acquisition"? Is that a euphemism for selling one's self? ;^) Or is it actually some arcane term having something to do with spin-offs? tia, Scott

To: Alan Vennix who wrote (8834)	8/10/1999 7:50:00 PM
From: Chuca Marsh	Respond to of 11603

From the S.I. Windstar Thread on 6 Aug rather same wording IT APPEARS just 4 days before this wording, anyone see a differance??? ? Message 10849832 Message 10849832 The Company's management continues to explore opportunities which could create valuation for shareholders. The Company has received expressions of interest from several companies concerning a possible joint-venture, acquisition or merger transaction. However, due to the depressed price for gold and the fact that many mining companies have curtailed exploration activities in favor of pursuing properties with proven reserves or production, the Company has been unable to conclude a joint-venture transaction or raise funds for exploration and development of the properties. Management believes that a significant increase in the price of gold is necessary before the Company is successful in raising capital for its operations. Discussion with interested joint-venture, acquisition or merger candidates shall continue. Management is also investigating a possible reverse acquisition transaction with a private company which would permit the private company to become a public company using our company as a means of achieving their goal. The reverse acquisition company candidate in that case would have the major stock and control position in the company and all current shareholders' stock position in the company would be significantly diluted. Since it is likely that a reverse acquisition company candidate would not be a gold mining company or be interested in our assets, our precious metal claims would be transferred to a private company and current shareholders would receive stock in the private company on a prorata basis to their current stock holdings in the Company. However, funds will be needed for the private company to maintain the mining rights to the claims. Management is of the opinion that it is not presently economical to continue as a public gold exploration mining company and has engaged the services of a consultant to assist management in finding a suitable reverse acquisition company candidate. At the time of this report the Company has entered into serious discussions with several possible reverse acquisition company candidates and expects to eventually reach an agreement with one of these candidates. above 6 Aug...below today 10 August : Thanks, Scott. Closing paragraph of WSRI's 10Q: "Management is of the opinion that it is not presently economical to continue as a public gold exploration mining company and has engaged the services of a consultant to assist management in finding a suitable reverse acquisition company candidate. At the time of this report the Company has entered into serious discussions with several possible reverse acquisition company candidates and expects to eventually reach an agreement with one of these candidates." Earlier in the 10Q they stated that if the reverse acquisition was to occur, current shareholders would have a significantly diluted position in the new company and the mining activities would likely be transferred to a private company which would need to raise funds to operate. Alan ..>> Chucka??? ?