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Gold/Mining/Energy : South Pacific Resource (C.SHF) -- Ignore unavailable to you. Want to Upgrade?

To: Ronald W.Millar who wrote (1973)	6/30/1998 5:58:00 PM
From: Ronald W.Millar	Read Replies (1) \| Respond to of 1980

Well we aren't South Pacific anymore, maybe we will make our millions with this new name. South Pacific Resources: Share Consolidation and Name Change to "LEXACAL INVESTMENT CORP." Business Wire - June 29, 1998 23:02 %SOUTH-PACIFIC-RESOURCES SHF. %NEW-YORK %MINING %METALS V%BW P%BW VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--June 29, 1998-- SOUTH PACIFIC RES. (Alberta Stock Exchange:SHF.) South Pacific Resources Corp. (ASE - SHF) announces that at the June 26, 1998 Special and Annual General Meeting of shareholders, approval was obtained from shareholders to proceed with the Company's previously announced plans to change its name to Lexacal Investment Corp. and to consolidate all issued and outstanding common shares on the basis that each 4 shares will be converted into one share. Application to proceed with the name change and share consolidation will now be filed with the Alberta Stock Exchange. Following approval from the Stock Exchange, all holders of common shares then outstanding will be issued with instructions describing the procedure by which they will be able to obtain replacement share certificates evidencing the Company's new name and the number of common shares to which they are entitled. Pending approval from the Stock Exchange, the Company's shares will continue to trade under the symbol "SHF". The Company's current name reflects its historic business activities which were restricted to both the mineral exploration business and to South East Asia. At present, the Company's Board of Directors has not yet finalized the Company's new business direction but in the planning for new directions, the Board of Directors feels that the Company should not be restricted to either a geographic region or to the natural resources business. At the shareholders' meeting, the shareholders approved resolutions authorizing the Company to seek a change in business direction through investments outside the natural resource area. Accordingly, the Company's proposed new name of "LEXACAL INVESTMENT CORP." is intended to allow for flexibility in both business direction and geographic sphere of influence. In the meantime, the Company is continuing its efforts to secure joint venture arrangements over all of its Indonesian mineral exploration projects. As previously announced, the Company's Mirih Project is the subject of a joint venture with Teck Exploration Ltd. of Canada and MM Gold Pty. Ltd. of Australia. An extensive ground exploration program to follow up previously identified airborne geophysical anomalies is currently underway on the Mirih Project by the joint venture partners. The Company is continuing to seek new investment opportunities. Note to Editors: The Alberta Stock Exchange has neither approved or disapproved the information contained herein. CONTACT: South Pacific Resources Corp. Robert Chase, 604/687-5305 spacific@axion.net