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Gold/Mining/Energy : Pemberton Energy (V.PBT) -- Ignore unavailable to you. Want to Upgrade?

To: David Parkinson who wrote (12)	6/9/1998 7:02:00 PM
From: David Parkinson	Read Replies (1) \| Respond to of 38

JV with TKO not proceeding; Enchant and Penny projects in default CPT Pemberton Technologies Ltd PBT Shares issued 4086823 1998-06-08 close $0.24 Tuesday Jun 9 1998 Mr. Bob Burton reports The non-arm's length joint venture agreement between TKO Resources and CPT Pemberton, previously announced in February, will not proceed. The company has been advised by its joint venture partner, Canadian Progress Resources, that both of the company's projects, the Penny project and the Enchant project, are currently in a position of default. The company has reached an agreement with Canadian Progress to first, abandon the Penny project, and second, in order to preserve the company's asset in the Enchant project, the company has agreed to pay a penalty of two times the original purchase price of the property. The original purchase price of the property was $24,000, therefore, the company has agreed to a penalty of $48,000. It is further agreed that this penalty will be paid in the form of an issuance of $48,000 value of the company's stock based on June 9, 1998 market closing price of 24 cents. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com