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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks! -- Ignore unavailable to you. Want to Upgrade?

To: Alan Whirlwind who wrote (1268)	2/21/2000 2:12:00 PM
From: Harry K	Read Replies (1) \| Respond to of 1348

Looks like they've got protection from their creditors on Feb. 18th from the Superior Court of Ontario. This order STAYS ALL PROCEEDINGS against the company for a period WHICH MAY BE EXTENDED BY THE COURT, for an initial period, terminating on March 16th!! Read on ... as the saga continues ... on .. and on ... and on!!!! (Help! :^) Latest quote I saw was 23,000 shares, from 0.115 -> .12. Apparently, investors are betting they'll find financing eventually!! So far, it seems they've got an initial $150,000, with an option to advance up to a further $4MM, and is in advanced discussions with a third party financier concerning the balance!! What negotiators!! UNITED KENO HILL MINES LTD ("UKH-T;UKENF-L") - Court Grants Protection from Creditors United Keno Hill Mines Limited announced that it has applied to the Superior Court of Ontario (the "Court") and has been granted protection from its creditors pursuant to an Order made in Toronto under the Companies' Creditors Arrangement Act ("CCAA") on February 18, 2000. The Order, which may be extended by the Court, stays all proceedings against the Company for an initial period terminating on March 16, 2000. Recently, the Company has been engaged in court proceedings in Whitehorse, Yukon where a group of creditors holding miners' liens is attempting to sell the Company's silver properties at Elsa, Yukon. The stay of proceedings granted in the Order will create a level playing field in which the interests of all stakeholders of United Keno will be considered and will allow the Company to negotiate with all its stakeholders in order to develop a completely restructured company. United Keno also announced that it has entered into a financing agreement with Pacific Cart Services Ltd., a Nevada corporation ("PCS"). The agreement contemplates PCS providing and assisting the Company in arranging the working capital and construction capital needed by United Keno to complete pre-production rehabilitation and underground development at United Keno's mines and mill at Elsa, Yukon and to provide for its working capital requirements until such time as commercial production is resumed. PCS has agreed to lend United Keno an initial $150,000 (on the basis of a loan convertible into common shares of the Corporation at $0.09 per share) with the option to advance up to a further $4,000,000 on a similar basis, and is in advanced discussions with a third party financier concerning the balance. The proposed financings are subject to the approval of regulatory authorities and the Court. TEL: (416) 360-5333 Gerald J. Gauthier, President and CEO FAX: (416) 360-4419 United Keno Hill Mines Limited