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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: dkgross who wrote (24211)	2/2/2000 3:23:00 AM
From: Jim Bishop	Read Replies (3) \| Respond to of 150070

12:15 is late??? LOL. Have flu ridden wife I need to comfort.

To: dkgross who wrote (24211)	2/2/2000 3:57:00 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

Attn: all Americans, I'm just posting this to see if I get in trouble or not........LOL. Not in the stock, in fact never heard of it, just don't like being told I can't do something. CORRECTION Hillsborough Resources Ltd. Corporate Update VANCOUVER, BRITISH COLUMBIA--NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES Vulcan Offer Hillsborough Resources Limited (TSE/HLB) (''Hillsborough'') announced today that a proposal received from a New York based investment firm specializing in coal investments, which will form the basis for a restructuring plan for Hillsborough and its subsidiary, Quinsam Coal Corporation (''Quinsam''), under the Companies Creditor Arrangements Act (''CCAA'') was approved by the Supreme Court of British Columbia on January 31, 2000. The principal elements of the restructuring proposal are: -Refinancing of the existing secured creditors of Hillsborough and Quinsam -Payment to the unsecured creditors of Quinsam of the lesser of (i) a pro rata allocation of 25% of the Company's free cash flow generated over the next two calendar years and (ii) 20% of the ammount of the debt in question: and -Issuance of new equity to Vulcan, such that the existing shareholders of Hillsborough will 5% of the equity of Hillsborough with Vulcan owning the remainder. The proposal remains subject to a number of conditions precedent which will need to be set prior to completion of the transaction. Quinsam will be applying to the Court in Vancouver, BC on Wednesday, February 9, 2000 in the CCAA proceedings for an order directing that the restructuring plan be presented to the creditors of Quinsam at a meeting tentatively scheduled for March 14, 2000. David Slater, President and Chief Executive Officer Contact: Hillsborough Resources Limited David Slater President and Chief Executive Officer (604) 684-9288 (604) 684-3178 Email: hillsbor@direct.ca