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Gold/Mining/Energy : Solv Ex (SOLVD) -- Ignore unavailable to you. Want to Upgrade?

To: CharlieChina who wrote (5390)	2/19/1998 10:35:00 AM
From: Annie	Respond to of 6735

here's why... United Tri-Star Resources Ltd. Announces Private Placement TORONTO--(BUSINESS WIRE)--Feb. 19, 1998--United Tri-Star Resources (TSE:UTS.) (OTC Bulletin Board:UTSRF) United Tri-Star Resources Ltd. ("UTS") announces a private placement of up to 6,875,000 Special Warrants at $0.80 per warrant to be cleared by prospectus. Upon prospectus approval (to be within 120 days of closing) the warrants will be converted 1 for 1 into common shares of UTS. The proceeds will be used to complete the acquisition of Solv-Ex's 12 percent interest in its Athabasca Oil Sands project including Lease 5 and 52 as described in the February 13, 1998 News Release issued by UTS. Dominick and Dominick and Groome Capital Advisory are placing the issue as Agents for UTS and expect to close the transaction by February 25th, 1998. Along with its interest in the Athabasca tar sands project, UTS also maintains a 31 percent interest in International Reef Resources Ltd, which is actively pursuing development of Coal Oil Agglomeration projects in the United States. As well, UTS holds a 36 percent interest in Tri-Star Gold Corporation which has one of the largest mineral property holdings in the Ghanaian gold belts of West Africa.