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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: John Paquet who wrote (15798)	3/15/1999 7:23:00 AM
From: LaFayette555	Read Replies (3) \| Respond to of 26850

Hi !! Winspear Resources Ltd - Winspear proposes corporate restructuring Winspear Resources Ltd WSP Shares issued 33,721,333 1999-03-12 close $3.02 Monday Mar 15 1999 Mr. Randy Turner reports The board of directors proposes to undertake a corporate restructuring. The board proposes to create a separate company (newco) and to transfer from Winspear to (newco) all of the early stage exploration properties presently held by Winspear. Winspear would continue to hold its interest in the Camsell Lake property. The board of directors has determined that such a restructuring will increase shareholder value by enabling each company to focus on its own business plan, and by allowing the shareholders to hold a security which reflects the value of Winspear's portfolio of exploration properties. The restructuring is subject to shareholder approval, and also to the acceptance of the transaction by the Vancouver Stock Exchange, and the issuance of applicable orders by the Supreme Court of British Columbia. On completion of the plan of arrangement, each holder of shares of Winspear will, for each share of Winspear presently held, hold one share of New Winspear which will continue to hold the Camsell Lake property and which will retain the name Winspear Resources Ltd., and 0.125 of a share of NewCo, which will hold all of the current Winspear's exploration properties and adequate working capital. The record date for the purpose of determining the holders of Winspear shares who will be entitled to receive such share is the business day preceding the date that the plan of arrangement is recorded with the Registrar of Companies. The VSE will continue to list the shares of New Winspear and will list the shares of newco. (c) Copyright 1999 Canjex Publishing Ltd.