To: steadyasyougo who wrote (1043 ) 3/8/2000 3:33:00 PM From: jerry janko Read Replies (1) | Respond to of 1193
Mansfield contracts executied for drilling at Cerro Mansfield Minerals Inc MDR Shares issued 16,790,583 Mar 7 close $1.40 Wed 8 Mar 2000 News Release Also Teck Corp (TEK.B) Mr. Gordon Leask reports The company has been advised by Teck Corporation that service contracts have been executed for both drilling and expediting at the Cerro Samenta project. Teck expects to commence drilling within the next two weeks. Pursuant to a first right of offer granted to Teck under the terms of a 1999 financing agreement, Teck has elected to acquire an interest in Mansfield's Rio Grande property in Argentina. To earn a 55-per-cent interest in Rio Grande, Teck must pay $50,000 on the signing of a formal agreement, and pay an additional $1.05-million in property payments and incur $4-million in exploration expenditures on the property over a four-year period. Teck can earn an additional 10-per-cent interest by financing the property through to feasibility. The company has also closed the private placement announced in Stockwatch Feb. 2, 2000. On closing, the company chose to issue 822,000 special warrants, each special warrant exchangeable for one unit. Each unit consists of one common share and one warrant to purchase an additional share at $1.25 for a one-year period. If these special warrants are exercised prior to the filing of the company's annual information form, any shares issued or acquired under an exercise of warrants will have a one-year hold period ending on Feb. 2, 2001. If the company files an AIF prior to the exercise of the special warrants, any shares issued will have a statutory hold period expiring June 2, 2000, in addition to the Canadian Venture Exchange hold period that will expire July 2, 2000. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com