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

To: Paul Bilecki who wrote (19492)	5/26/1999 9:15:00 AM
From: Natedog	Read Replies (1) \| Respond to of 26850

Winspear implements plan of arrangement with Diamondex Winspear Resources Ltd WSP Shares issued 39,238,388 May 25 close $3.93 Wed 26 May 99 News Release Mr. Randy Turner reports The directors of the company today determined to implement the plan of arrangement between the company and Diamondex Resources Ltd. It is anticipated that the effective date for the plan of arrangement will be Thursday, May 27, 1999, being the date on which all required materials are filed with the British Columbia Registrar of Companies. As a result, the arrangement record date will be Wednesday, May 26, 1999. All registered shareholders of Winspear on May 26, 1999, will be entitled to receive one share of "new Winspear" and 0.125 of a share of Diamondex. As set out in the company's information circular for the meeting held on April 29, 1999, the directors of Winspear have the authority to adjust downward the exercise price of each outstanding incentive stock option of Winspear by the percentage that the fair market value of the Diamondex assets represents of the fair market value of Winspear at the effective date. Notwithstanding this authority, the board of directors of Winspear has today determined not to reduce the exercise price of any of the existing Winspear incentive stock options. The listing of the shares of Diamondex on the Vancouver Stock Exchange remains subject to Diamondex meeting the listing requirements of the Vancouver Stock Exchange. It is anticipated that Diamondex will be making an announcement in this regard in the near future. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com