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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Gold who wrote (7650)	12/11/1998 11:27:00 AM
From: marcos	Respond to of 25548

Yes, I saw that .... at least one question, yes - Are you happy with that? ... ok two ... Can you tell me what it means; ________________________ Lake Elsinore, Ca., August 4, 1998... Medinah Energy Inc., wishes to announce the adoption of a resolution creating 10,000,000 Class A preferred shares holding the following privileges: 1. Issue and redemption price - $1.00 per share; 2. Dividend rate - $0.10 per share, payable at such time as the Board of Directors determine; 3. Convertible at the option of the holder to common charges of the Corporation at the ratio of $0.25 for each common share divided by the purchase price of each preferred share of $1.00 each; 4. Owners of record may convert 1/3 of their Class A shares on July 10, 1999, 2000, 2001; 5. Any preferred share issued under this series shall not be accorded any voting rights of whatever nature or kind. Medinah has distributed 8,965,000 Class A preferred shares; 7,465,000 preferred shares to Frontier International Resources in exchange for cancellation of the 25,000,000 common 144 shares of Medinah issued under the Frontier/NP Energy Corp/Medinah acquisition agreement regarding the acquisition of the Chilean mining properties, and a further 1,500,000 Class A preferred shares to NP Energy Corp. as settlement for any and all interests and participation NP might retain pursuant to the Frontier/NP/Medinah acquisition agreements. Frontier International Resource Inc. will distribute the Class A preferred shares of Medinah to its shareholders, which include NP Energy Corp., Medinah Energy and other public shareholders on the ratio of one Class ''A'' preferred share for each 4 common shares of Frontier. The above transactions, approved by directors of all three companies, has the net effect of reducing the issued common share capital of Medinah from 53,800,334 common shares to 28,800,334 common shares. ________________________________ There's 46mil out now, you say - well then that's 17mil added recently. For what? You may think I'm being hard-nosed here and you're right - it is imho imcumbent on the investor, especially in the junior explorer biz, to make the company prove that it is not a scam. And this one is not doing so well at that so far, even putting aside the SIer harassment, there's still the non-reporting and the paper games.