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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (10132)	11/16/2002 4:10:04 PM
From: JR.	Read Replies (1) \| Respond to of 11802

My guess it has something to do with a press release that was posted on stockwatch many months ago. Here's the contents of the press release. When it will trade again is anybody's guess. Big Bar Gold has entered into a standstill agreement with Dalian Xindie Chitin Co. Ltd. (Xindie), a private Chinese company involved in the business of developing and manufacturing chitin products and derivatives. Xindie was established as a Sino-Japanese joint venture in 1994, to investigate and develop the potential uses of chitin, the structural component of the shells of crustaceans such as shrimp, crab and lobster. Chitin is the most plentiful natural occurring polymer next to cellulose and is similar in molecular structure. Chitin and its derivatives have many properties that make them attractive for a wide variety of applications including: food and dietary supplements, cosmetics, wound treatment, cell binding, fabric dying, paper production, photographic products, cements, water treatment, waste removal and agriculture. Their antibacterial, antifungal and antiviral properties make chitin products particularly useful for biomedical applications, such as wound dressings, surgical sutures, and as aids in cataract surgery and periodontal disease treatment. Research has shown that chitin and chitosan, a man-made derivative of chitin, are non-toxic and non-allergenic, so the body is not likely to reject these compounds as foreign invaders. Chitin's biodegradable and antifungal properties are a plus for environmental and agricultural uses. Researchers also have focused on the food and nutrition arenas, including edible films and coatings to preserve the quality and texture of foods. Xindie exports industrial, medical, health care and cosmetic raw materials derived from chitin to over 10 countries including the United States, Japan and parts of Europe. In addition, the company has a research and development department and manufacturing team that focuses on the creation of new, specialized chitin products. Currently, the company is concentrating on biomedical applications including chitin's affect on immune system function. Pursuant to the terms of the standstill agreement, Big Bar has 90 days to complete its due diligence review of Xindie's business affairs. During this standstill period, Xindie has agreed to refrain from seeking or entertaining any other offers to acquire interests in the company. Subject to due diligence, Big Bar and Xindie agree to use their good faith efforts to negotiate and enter into a contract providing for Big Bar's acquisition of all of the issued and outstanding shares in the capital stock of Xindie. Big Bar does not have any agreement to acquire an interest in Xindie or its assets and there is no assurance that any such agreement will be reached.