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Gold/Mining/Energy : WWS.T World Wide Minerals -- Ignore unavailable to you. Want to Upgrade?

To: tango who wrote (678)	3/13/1999 4:23:00 PM
From: traacs	Read Replies (1) \| Respond to of 784

Friday March 12, 6:55 pm Eastern Time Company Press Release World Wide Completes Capital Reorganization TORONTO, ONTARIO--World Wide Minerals Ltd. announced today that it had competed a reorganization of its capital structure. World Wide has issued 19,885,853 common shares by way of private placement at prices between $0.06 and $0.10 per share to settle c urrent outstanding liabilities in the amount of $1,590,200. It has reserved a further 3,000,745 common shares for future issue at $0.10 per share on conversion of an additional $214,748 of liabilities. In addition, as part of the capital reorganization, a total of $1,892,295 of current liabilities have been exchanged for 2 year 6 percent notes. World Wide also has outstanding a secured loan in the principal amount of approximately $10 million, which had been on a demand basis. As part of the capital reorganization, the holder of this secured loan has agreed to extend the maturity of this loan to April 3, 2000, subject to the terms of the loan agreement. After giving effect to the capital reorganization, total World Wide common share capitalization has increased to 78,725,078 common shares. Assuming that all of the Company's outstanding options, warrants and conversion rights were to be exercised, inclu ding those which are not currently ''in the money'', a total of 86,373,157 common shares would be outstanding. World Wide actively continues to review the restructuring of its uranium and gold related business activities in order to concentrate on recovery of its Kazakhstan investment, and to position itself to benefit from recovery in commodity prices and improv ing investment sentiment towards the metals and minerals sector. In future, it is the intention of the Company to issue news releases by e-mail only, except for regulatory compliance purposes. To request the Company's news releases by e-mail, or for additional information regarding the Company, please go to the World Wide Minerals website at www.worldwideminerals.com.