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Gold/Mining/Energy : CRL,100% growth, EPS of .04 6months .39 stock -- Ignore unavailable to you. Want to Upgrade?

To: Ross Orr who wrote (97)	5/20/1999 9:35:00 PM
From: Ciao	Respond to of 177

Annual meeting today...... NR that came out; Canadian Chemical Reclaiming Ltd. Announces Completion of the Acquisition of New Paradigm Gas Processing Ltd. CALGARY, ALBERTA--In keeping with its previously announced strategy of developing new complementary technologies, Canadian Chemical Reclaiming Ltd., (CCR) stock symbol "CRL" on The Alberta Stock Exchange, is pleased to announce that it has completed the acquisition of all the issued and outstanding shares of New Paradigm Gas Processing Ltd. ("New Paradigm"). There are considerable proven natural gas reserves that are presently shut in because they can not be economically produced using current sour gas processing technologies. New Paradigm has formulated a strategy and system for the cost effective processing of these stranded sour natural gas reserves to pipeline specifications. Research and development will be carried out by New Paradigm and assuming the processing concept can be successfully commercialized, over 100 million standard cubic feet per day of shut-in gas could be produced in Western Canada utilizing this technology. This technology could be applied in the rest of North America and worldwide. The processing system would combine CCR technology with other technologies being developed by New Paradigm. New Paradigm was acquired for one million common shares of CCR at a deemed price of $0.40 per common share. One-half of the shares were issued at closing and will be held in escrow to be released one year following closing and upon the expenditure of $500,000 in future research and development costs. The balance of the shares will only be issued if commercial production of the New Paradigm process is achieved within three years following closing. CCR has also agreed to provide initial capital of up to $500,000 which will fund New Paradigm, including expenditures incurred prior to closing.