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Gold/Mining/Energy : ATNA ( v.atn t.atn) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (286)	6/23/1998 10:33:00 PM
From: Blake	Read Replies (1) \| Respond to of 509

Atna Resources Ltd - Atna sues Boliden over Wolverine sale to Expatriate Atna Resources Ltd ATN Shares issued 20,203,788 1998-06-23 close $0.78 Tuesday Jun 23 1998 Also Expatriate Resources Ltd (EXR) Also Boliden Ltd (BOL) by Brent Mudry Atna Resources has filed a suit against Boliden Westmin, a subsidiary of Boliden Ltd, relating to the sale of its interest in the Wolverine Lakes claims to Expatriate Resources. In a statement of claim filed Tuesday in the Supreme Court of British Columbia, Atna seeks the cash equivalent of the 4.8 million Expatriate shares that Boliden stands to gain for the sale of its interests. The Expatriate share block is worth about $2.7-million. Under a January, 1996, joint venture, Atna owned a 40 per-cent interest in the claims in the south central Yukon, while Westmin Resources owned a 60 per-cent interest. Boliden acquired Westmin last December. Vancouver securities lawyer Gary Snarch of Snarch & Allen notes that on May 27, Boliden forwarded to Atna a copy of a signed letter of intent in which Expatriate agreed to buy Boliden's Wolverine interest for 4.8 million Expatriate shares. Two days later, Atna demanded that Boliden provide it the cash equivalent of the 4.8 million Expatriate shares. Atna notes that on June 16, it formally "accepted" Boliden's offer to sell its Wolverine interest to Expatriate, but Boliden refuses to recognize Atna's acceptance. The suit seeks a court declaration that the Boliden offer is covered by the joint venture agreement, entitling Atna to 4.8 million Expatriate shares. Mr Snarch alternatively seeks the appointment of an arbitrator to establish a valuation for the Wolverine claims and a court order restraining Boliden from disposing of its Wolverine interest. The suit notes that Expatriate's annual meeting is set for July 9. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com