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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: David Sirk who wrote (1090)	8/22/1998 10:50:00 AM
From: Sojourner Smith	Read Replies (3) \| Respond to of 5908

share issues continued: MONTREAL, Quebec--(BUSINESS WIRE)--July 20, 1998--Indocan Resources Inc. (OTC BB: IDCN - news) The company has accepted USD $4,000,000 from a European investor in exchange for 10,000,000 shares being issued pursuant to Rule 144. These shares will be restricted from transfer for at least one year. The company will use $1 million of the funds for its division, Prodigy Resources Inc.'s property at Isaac's Harbour, Nova Scotia. The company plans to drill four holes 200 to 300 meters deep at selected areas. Our geologist recommend the specific sites as the recent assays of July 13, 1998 indicated some very high gold results. The Transfer Agent said 47 mil os. Minus the 10 mil shares above. And the 27 mil shares I figured on prior post. Now all I don't know who owns is 10 mil shares. Man you guys are tough, do I have to account for the last 10 mil shares? Ok I will try. Read the above PR closely - am I reading it right they sold 10 mil shares for $4 mil? Is that $2.5 a share? Am I computing that right???