To: Mr Metals who wrote (8280 ) 12/27/1997 10:13:00 AM From: Quinn Read Replies (1) | Respond to of 14627
To All and Off Topic, but of interest as it applies to the other activities of CMS: " Zen International Resources Ltd ZQP Shares issued 10422367 1997-12-23 close $0.8 Wednesday Dec 24 1997 Ms Catherine McLeod-Seltzer reports The company has received a final legal opinion from its Chinese counsel, allowing it to complete its acquisition of the 75% of the shares of the private Belize company Zen did not already own. The acquisition had been formally completed on November 7 1997 pending receipt of the legal opinion regarding Zen's principal projects. This acquisition of the final 75% of Zen China was effected by the issuance of 26,695,414 shares of Zen to the founding shareholders of Zen China. Zen's ownership of 100% of Zen China maximizes its exposure to that company's assets, including its right to identify exploration and mining projects available for joint venture in the People's Republic of China and to negotiate positions in large mining projects. These assets include a 50 to 85% interest in the Zijinshan gold/copper porphyry deposit, containing an estimated resource of 3.4 million ounces of gold and 1.7 million tonnes of contained copper metal. In order to reflect the new ownership of the company's capital, Zen has made a number of changes to its management. Mr Lee Mun-Kit, a founding shareholder of Zen China and the individual largely responsible for assembling Zen's project portfolio, has been appointed the president of Zen, following the resignation of Ms Catherine McLeod-Seltzer from that post and has also been appointed chief operating officer. Ms McLeod-Seltzer remains chairman of the board of Zen and CEO and will continue her involvement in the company's financing, corporate development and administrative activities. Mr Peter Apps has been appointed as a director of the company. Mr Apps, a financial consultant from Sydney, Australia has been involved in the banking industry, including mining project financing, since 1982. " It's fairly obvious PFG is getting nowhere near 100% of her time as company President.