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Gold/Mining/Energy : Consolidated Magna Ventures (CMV.V) -- Ignore unavailable to you. Want to Upgrade?

To: jerry janko who wrote (237)	5/1/1998 9:08:00 PM
From: jerry janko	Respond to of 380

From: newsout@canada-stockwatch.com Date: Fri, 01 May 1998 16:04:02 -0700 Subject: Stockwatch: Consolidated Magna Ventures Ltd - News Release To: ajanko@erinet.com Two directors appointed; stock options; debt settlement; financing closed Consolidated Magna Ventures Ltd CMV Shares issued 20,187,176 May 1 close $0.37 Fri 1 May 98 News Release Mr. Bradley Aelicks reports Two new directors have been appointed to the board, Javier Felix Munoz and Walter W. Tyler. Mr. Felix, of Chihuahua, Mexico, was nominated and appointed to the board at the recent AGM. He is a significant shareholder in the company and the main shareholder of Minera La Metalica de Chihuahua, the company's joint venture partner on the La Reyna de Oro Mexican property. Mr. Tyler was appointed to the board effective May 1. He has an extensive background in natural resource exploration, evaluation and financing. He earned his degree in geological engineering in 1957 and has over 40 years of mineral industry experience at all levels. Both new directors have significant mining and financial expertise. The company has set 710,000 additional director and employee stock options at 37 cents and 45 cents per share. Further to news in Stockwatch dated Feb. 2, 1998, the company has issued 220,728 shares and 1,076,560 shares, with hold periods of Sept. 30, 1998 and Jan. 30, 1999 respectively, to settle debts of $339,773. The company has closed the special warrant financing announced in Stockwatch Feb. 20, 1998. A total of $889,300 was raised by the issue of 2,997,668 units comprised of one share and one warrant, with all securities subject to a hold period expiring Aug. 22, 1998. Finders' fees totalling 122,500 shares were also issued. Each full warrant is exercisable for one share at 35 cents in the first year and 50 cents in the second. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com