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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (9659)	3/21/1998 12:27:00 AM
From: Kerm Yerman	Respond to of 15196

MERGER / Torrington Resources and Lodestar Energy Announce Amalgamation Close TORRINGTON RESOURCES LTD. TSE SYMBOL: TRN LODESTAR ENERGY INC. ASE SYMBOL: LEI.A MARCH 20, 1998 CALGARY, ALBERTA--TORRINGTON RESOURCES LTD. and LODESTAR ENERGY INC. jointly announce that the amalgamation between Lodestar and wholly-owned subsidiary of Torrington, which was approved by Lodestar shareholders on February 10, 1998 will close on March 25, 1998. Under the terms of the amalgamation, holders of Lodestar Class A shares will be entitled to receive $1.15 cash for each Class A share held, and holders of Class B shares will be entitled to receive for each Class B share held, at the election, 0.6 of a Torrington common share or $3.00, subject to a maximum cash amount available to all holders of Class B shares of $720,000. Holders of Lodestar Class B shares are required to make their election to receive cash or Torrington common shares by the election deadline on March 24, 1998 failing which they will be deemed to have elected to receive Torrington common shares in respect of all of their Lodestar Class B shares.