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Gold/Mining/Energy : GRONARCTIC RES. (gor - alberta) -- Ignore unavailable to you. Want to Upgrade?

To: bcjt who wrote (6)	11/15/1999 7:00:00 PM
From: bcjt	Respond to of 7

GRONARCTIC RESOURCES INC. Title ASE Bulletin No. 9910 478 Re Kicking Horse Resour ALBERTA STOCK EXCHANGE ("ASE-Y") KICKING HORSE RESOURCES LTD ("KHL-Y") [formerly KICKING HORSE RESOURCES INC ("KRI-Y")] [formerly GRONARCTIC RESOURCES INC ("GOR.A-Y")] - ASE Bulletin No. 9910-478 Re Kicking Horse Resources; gronArctic - Resources Trading Reinstatement, Completion of a Major Transaction, - Reverse Takeover and Amalgamation, and Implementation of a Small - Shareholder Selling and Purchase Arrangement The Alberta Stock Exchange announces that the Class A common shares of gronArctic resources inc. ("gronArctic") have been halted since May 5, 1999 pending a reverse takeover and amalgamation. The common shares of Kicking Horse Resources Inc. ("KHR Inc.") have been halted since August 16, 1999 pending a Major Transaction and amalgamation. At a meeting adjourned from July 9, 1999 to July 30, 1999, the shareholders of gronArctic approved the reverse takeover and amalgamation as outlined in its Information Circular dated June 3, 1999. At a meeting on July 8, 1999, the minority shareholders of KHR Inc. approved the Major Transaction and amalgamation with gronArctic and Taber Energy Corp., a private company, as outlined in its Information Circular dated June 1, 1999. KHR Inc. has now completed the Major Transaction and amalgamation. As a result, effective the opening of business on Tuesday, October 12, 1999 KHR Inc. will no longer be considered a Junior Capital Pool Company. The name of the amalgamated company will be Kicking Horse Resources Ltd. ("AMALCO" or "KHR Ltd."). Pursuant to the reverse takeover, Major Transaction and amalgamation, the exchange ratio for the gronArctic Class A shares and KHR Inc. common shares are as follows: Each holder of gronArctic Class A common shares will receive 0.0167523 of a common share of KHR Ltd. for each gronArctic Class A common share. In addition, each holder of gronArctic Class A shares will receive, for each KHR Ltd, common share issued to that holder, one-half (1/2) of a warrant of KHL Ltd. expiring on August 13, 2000. One (1) whole warrant is exercisable at $0.45 for one (1) KHR Ltd. common share. Each holder of KHR Inc. common shares will receive 0.3678913 of a common share of KHR Ltd. for each common share of KHR Inc. As a result of the amalgamation, KHR Ltd. will have approximately 10,000,000 common shares issued and outstanding. The Exchange has been advised that Kicking Horse Resources Ltd. will implement a Small Shareholder Selling and Purchase Arrangement (the "Odd Lot Program"). Participation in the Odd Lot Program is limited to holders of 499 or fewer common shares of Kicking Horse Resources Ltd. as of August 13, 1999, the effective date of the amalgamation. The Odd Lot Program will expire on December 13, 1999. Full details of the Odd Lot Program are set out in the Information Pamphlet which is being mailed to the registered shareholders. The common shares of amalgamated Kicking Horse Resources Ltd. will be posted for trading in substitution for the Class A common shares of gronArctic resources inc. and the common shares of Kicking Horse Resources Inc. at the open of business on TUESDAY, OCTOBER 12, 1999. Stock Symbol: KHL ISM Security Code: 373 193 CUSIP Number: 493750 10 3 Transfer Agent: Montreal Trust Company of Canada - Calgary Kicking Horse Resources Ltd. will issue a press release on October 8, 1999 announcing closing of the Major Transaction, amalgamation and implementation of the Odd Lot Program. TEL: (403) 974-7400 The Alberta Stock Exchange FAX: (403) 237-0450 ______________________________________ (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. bcjt