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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (93)	3/20/1998 8:19:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 186

Notices to exercise special warrants received Island-Arc Resources Corporation IAR Shares issued 8,583,285 Mar 19 close $0.54 Fri 20 Mar 98 News Release Mr Lawrence Barr reports The BC Securities Commission has confirmed receipt of the company's annual information form. As a result, the company has received notices of exercise from the holders of a number of previously issued special warrants. The AIF will reduce the hold periods on the shares and warrants issued upon exercise of those special warrants as follows: 1,270,000 special warrants issued on February 23 1998 have been converted into 1,270,000 shares and 1,270,000 warrants, and now have a hold period expiring on May 21 1998; 320,000 special warrants issued on January 14 1998 have been converted into 320,000 shares and 320,000 warrants, and now have a hold period expiring on April 30 1998; 330,000 special warrants issued on January 14 1998 have been converted into 330,000 warrants, and now have a hold period expiring on May 9 1998; 200,000 special warrants issued on July 21 1997 have been converted into 200,000 shares and 200,000 warrants, and do not have a hold period. The company has issued 774,686 shares pursuant to a number of share for debt settlements; 601,991 of these shares do not have a hold period, and the remaining 172,695 shares have hold periods expiring on April 1 1998 (29,929 shares), May 1 1998 (29,929 shares), May 6 1998 (87,837 shares) and July 1 1998 (25,000 shares). As a result of these transactions, the company announces: Lawrence D. Barr has received 440,000 shares and 440,000 warrants as a result of the conversion of the previously mentioned special warrants, and 57,406 shares as a result of the debt settlement. Mr Barr currently holds 817,807 shares and has the right to acquire a further 880,000 shares. Randy Butchard has received 490,000 shares and 490,000 warrants as a result of the conversion of the previously mentioned special warrants. Mr Butchard currently holds 776,600 shares and has the option to acquire another 490,000 shares. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com