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Gold/Mining/Energy : Blackstone Resources BLV-CDNX -- Ignore unavailable to you. Want to Upgrade?

To: George Castilarin who wrote (359)	6/16/2000 9:51:00 PM
From: Buckey	Respond to of 373

most of my shares are RRSP from 1997 - fortunately I made a lot of money on BZZ so I have no regrets on the decline

To: George Castilarin who wrote (359)	6/26/2000 8:28:00 PM
From: Buckey	Respond to of 373

Well Geaorge we got News and A DEAL - A SURPRISE TO SAY THE LEAST Blackstone acquires Sominbesa; financing Blackstone Resources Inc BZZ Shares issued 11,245,501 Jun 26 close $0.12 Mon 26 Jun 2000 News Release Mr. Donald McInnes reports Blackstone Resources has signed a letter agreement to acquire a 100-per-cent interest in Sominbesa, a sole purpose Peruvian company that owns a 100-per-cent interest in the Berenguela property. The Berenguela property is host to a 14-million-tonne probable resource grading 18 per cent manganese dioxide, 1.3 per cent copper and 125 grams silver per tonne, according to Ross Glanville, BA, Sc, PEng, MBA, in a March, 1998, report on the Berenguela project. The deposit is located in southeastern Peru and accessible by road, 50 kilometres from Juliaca, a town of 100,000 people. Under the terms of the agreement, Blackstone will acquire an 80-per-cent interest in Sominbesa following Blackstone's settlement of Sominbesa shareholder indebtedness of $750,000 (U.S.) and upon Blackstone's completion of financing for the first phase of a feasibility study on the Berenguela project. This 80-per-cent interest will be purchased for such number of shares as is needed to be issued so that the shares issued will equal 40 per cent of the issued and outstanding capitalization of Blackstone at the time of purchase. The remaining 20-per-cent interest in Sominbesa may be purchased upon commencement of production at Berenguela. The price payable will be the issuance of such number of shares as is needed to be issued that together with the originally issued shares would represent 20 per cent of the issued and outstanding capitalization of Blackstone at that time. The transaction is conditional on Blackstone completing due diligence within a 60-day period and completing a consolidation of its existing share capital on a 1 new common share for every 2.5 existing common shares. Concurrent with this acquisition, Blackstone announces a preconsolidation non-brokered private placement for two million units at 10 cents per unit. Each unit shall be convertible, into a common share and a two-year common share purchase warrant. Each warrant shall be exercisable at 10 cents in the first year and 12 cents in the second. The placement is being largely subscribed for by the principals of Blackstone. The company has also issued 494,500 director/employee common share purchase options. Each option shall entitle the holder to purchase a common share of the company for a period of five years at a price of 10 cents per share. All of the above transactions are subject to Canadian Venture Exchange approval. The share consolidation is also subject to shareholder approval. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com