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Gold/Mining/Energy : CASTELLO CASINO CORP. (CCCZ/CSTC) -- Ignore unavailable to you. Want to Upgrade?

To: Blue_Horseshoe who wrote (164)	11/21/1997 1:50:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 311

!!!!!NEWS RELEASE!!!!! Subject: Stockwatch: Castello Casino Corp - News Release Date: Fri, 21 Nov 1997 10:45:27 -0800 From: newsout@canada-stockwatch.com To: edpak@georgian.net 9mo results, gaming licence being processed Castello Casino Corp CSTC Shares issued 10,575,645 Nov 20 close $0.20 Fri 21 Nov 97 News Release An anonymous director reports In September 1997, a new gaming commission was appointed by the Venezuelan government. The gaming commission will regulate the gaming industry in Venezuela pursuant to the new gaming law signed by president Caldera in late July which caused the immediate closure of all casino and bingo facilities and requires application and approval of licencing by the new gaming commission. The new federal law has replaced the limited gaming licences previously issued by respective states and municipalities. An application for a licence is now being processed. The licence would allow bingo, slots and innovative technology games, including roulette, blackjack and poker. The facility is 20km southwest of Caracas and is expected to re-open in February 1998 under the new federal gaming law. Negotiations are in progress relating to a joint venture partner wherein the partner would supply state of the art electronic gaming equipment which would be approved by the gaming commission at the time of issuing the new licence. STATEMENT OF EARNINGS Nine months ended September 30 1997 1996 Revenue $ - $ - ---------- ---------- Costs and expenses Admin and general 56,458 78,700 Consulting fees, travel and promotion 843,313 153,375 Interest 85,822 - ---------- ---------- 985,593 232,075 ---------- ---------- Operating loss 985,593 232,075 Note receivable written down 5,313 - ---------- ---------- Net loss $ 990,906 $ 232,075 ========== ========== Net loss per share $0.13 $0.05 (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Excellent looking financials....(biiiiig pun)...ed