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

To: Kerm Yerman who wrote (9880)	4/1/1998 11:41:00 PM
From: Kerm Yerman	Respond to of 15196

CORP. / Cantex Energy to Reorganize CANTEX ENERGY INC. FILES PRELIMINARY PROSPECTUS TO REORGANIZE CORPORATE STRUCTURE 1998-04-01 TORONTO, ONTARIO CANTEX ENERGY INC. is pleased to announce that it has filed a preliminary prospectus, with the Ontario Securities Commission to reorganize its corporate structure. The objective is to separate the energy and mineral exploration programs. Cantex Energy Inc. will dividend out to shareholders of record (date to be announced) all the shares of its wholly owned subsidiary, Findore Gold Resources Ltd. subject to receipt of a final prospectus. Findore Gold Resources Ltd. will own all of the Corporation's mining properties while Cantex Energy Inc. will be exclusively engaged in oil and gas development exploration and production. Shareholders of record will receive one share of Findore Gold Resources Ltd., for every four shares of Cantex Energy Inc. It should be noted that the issuance of a receipt for a preliminary prospectus does not necessarily mean the prospectus will be approved. With offices in Toronto and Houston Cantex Energy Inc. is involved in an oil and gas development exploration and production venture onshore in the Texas/Louisiana Gulf Coast area. While the project involves both oil and gas, a great majority of the target prospects are natural gas.