To: superdow who wrote (9158 ) 2/14/1999 9:39:00 PM From: gianelda Respond to of 25548
The following is from Dayton and makes ref. to these cases. "DAYTON MINING CORP ("DAY-TADPQX") - Banking and Legal Update Dayton Mining Corporation is pleased to announce that its banking syndicate has agreed to continue to waive existing defaults until November 30, 1998, thus extending the waiver that expired October 19, 1998. During the time of this waiver Dayton will be negotiating a restructuring and extension of the loan repayment terms. The current bank loan outstanding is US$17.9 million of which $12.9 million is cash collateralized. On October 27, 1998, the Second Judicial District Court of the State of Nevada entered its order granting the motion of Dayton Mining Corporation to quash service of process on Dayton Mining Corporation. Dayton's motion asserted that the Second Judicial District Court does not have jurisdiction over Dayton Mining Corporation for the claims asserted by Medinah Energy Inc. against Dayton Mining Corporation. The Court Order stated the "plaintiff [Medinah] has failed to provide competent evidence of essential facts establishing a prime facie showing of jurisdiction" and "[t]herefore, jurisdiction here has no basis in law or fact." This decision may be appealed by Medinah to the Nevada Supreme Court. Actions are still underway in Nevada by Medinah Energy Inc. against Dayton Mining (US) Inc. and in British Columbia by Medinah Energy Inc. against Dayton Mining Corporation and Dayton Mining (US) Inc. Dayton Mining Corporation holds a 100 percent interest in the Andacollo Gold Mine located in central Chile, and trades on both the American Stock Exchange (AMEX) and Toronto Stock Exchange (TSE) under the trading symbol DAY. Notice: The Company relies on litigation protection for "forward looking" statements. TEL: (604) 662-8383 Dayton Mining Corporation Diane Thomas, Vice President, Investor Relations ______________________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. Gian PS.:This is an old p.r.dated dec 4th 98