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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: John Lawrence who wrote (3035)	1/23/1999 9:41:00 PM
From: kidl	Read Replies (2) \| Respond to of 5164

Excerpts from the AGM Information Circular for those who have not received it: DIRECTORS' REPORT - Project Review Michigan Casino After the Federal acknowledgment process has been completed land can be purchased for the Gun Lake Band's initial reservation and placed in trust as part of the Federal acknowledgment process. Management anticipates that it will exercise the Gun Lake purchase option and acquire the Gladieux property on behalf of the Gun lake band and place it in trust as part of the Federal acknowledgement process. Management believes it will finalize the Gun Lake management agreement on terms acceptable to the Gun Lake Band and NIGC (National Indian Gaming Commission) Sungold and the Gun Lake Band have begun the process of negotiating the Gun Lake management agreement in anticipation of Federal achnowledgment. Sungold believes that it will enter into an agreement with a third party management company and will finalize the Gun Lake management agreement upon completion of the Federal acknowledgment process. Now, anyone that believes that Sungold's BoD would have put the above in black and white on Jan. 10/99 knowing that the deal had been killed in November, please step forward. Whoever posted 3002 must have a "very high" opinion of Sungold shareholders. Most of the thoughts that come to mind would likely remove me from SI permanently but let me just say this: I refuse to believe that even ONE single long term Sungold shareholder is stupid enough to take this piece of s**t (post 3002) for anything but someone's blatantly unsophisticated and utterly futile attempt to manipulate shareholders into voluntarily devaluating the company's shares by selling into this cyber nonsense. Furthermore, if poster 3002 thinks that he, she or them will force management by way of pressure from shareholders to make any sort of announcement is IMO sadly mistaken. This has been tried before, has never worked and I doubt will work now. Just speaking for myself, being the sometime outspoken and unwelcome critic of the company, this idiotic post has no merit regardless where it originated from and was placed for one of two reasons: 1) The Band wants Sungold out / a better deal and knows that they have no leg to stand on, or 2) Our friendly shorts are mounting one last ditch effort to save their hides. In both cases, good luck to either one of you! kidl

To: John Lawrence who wrote (3035)	1/24/1999 1:36:00 AM
From: Angusb	Respond to of 5164

For your interest, from the site you posted: "Sec. 2710. Tribal gaming ordinances (2) (A) If any Indian tribe proposes to engage in, or to authorize any person or entity to engage in, a class III gaming activity on Indian lands of the Indian tribe, the governing body of the Indian tribe shall adopt and submit to the Chairman an ordinance or resolution that meets the requirements of subsection (b) of this section. (B) The Chairman shall approve any ordinance or resolution described in subparagraph (A), unless the Chairman specifically determines that - (i) the ordinance or resolution was not adopted in compliance with the governing documents of the Indian tribe, or (ii) the tribal governing body was significantly and unduly influenced in the adoption of such ordinance or resolution by any person identified in section 2711(e)(1)(D) of this title. Upon the approval of such an ordinance or resolution, the Chairman shall publish in the Federal Register such ordinance or resolution and the order of approval. Sec. 2711. Management contracts (e) Disapproval The Chairman shall not approve any contract if the Chairman determines that - (1) any person listed pursuant to subsection (a)(1)(A) of this section - (A) is an elected member of the governing body of the Indian tribe which is the party to the management contract; (B) has been or subsequently is convicted of any felony or gaming offense; (C) has knowingly and willfully provided materially important false statements or information to the Commission or the Indian tribe pursuant to this chapter or has refused to respond to questions propounded pursuant to subsection (a)(2) of this section; or (D) has been determined to be a person whose prior activities, criminal record if any, or reputation, habits, and associations pose a threat to the public interest or to the effective regulation and control of gaming, or create or enhance the dangers of unsuitable, unfair, or illegal practices, methods, and activities in the conduct of gaming or the carrying on of the business and financial arrangements incidental thereto;" The reference to section 2711 in reply 3002 is valid since it pertains to Chairman disapproval of the contract and, as the reference to section 2711 (e)(1)(d) is provided in section 2710 (2)(B)(iii) which discusses Class III activities, appears to be consistent with U.S. law. The use of the name D.K. Sprague in the posting is interesting also, since Cheeky Kid's search indicated that the name, at least, is associated with the band. Angusb