MDHM just sent out a statement regarding the dividend via e-mail
Medinah Mining, Inc. - News Release
Trading: OTC-BB
Symbol-MDHM
CUSIP# 584894 10 9
Tel: (909) 245-9498
Fax (909) 245-9438
COMMENTS FROM THE PRESIDENT
of
Medinah Mining Inc./ Medinah Gold, Inc.
June 4, 1999
I am taking this opportunity to inform all shareholders of Medinah Mining, Inc. of the
details of recent developments regarding the creation of Medinah Gold, Inc. and the
implications thereof.
Medinah Mining, Inc. has been streamlined in order to benefit to the fullest, all of its
shareholders on an equal basis. Medinah Mining, Inc. sold to Medinah Gold, Inc. at
historical costs, all of its assets except for Alto de Lipangue and Las Dos Marias, the two
new Chilean discovery properties. The primary purpose is to avoid the possibility that, in
the event of a takeover of Medinah Mining, these assets would be absorbed along with
Lipangue and Dos Marias without giving an additional benefit to the shareholders.
Medinah Gold, Inc has issued 11,694,033 restricted shares to Medinah Mining, Inc. for
the properties. These shares have been distributed pro rata as a dividend to Medinah
Mining, Inc. equity holders.
Medinah Gold, Inc. is now owned entirely by the shareholders of Medinah Mining, Inc.
and will be operated by a Board of Directors appointed by its shareholders. Dividend
shares have been sent to all registered shareholders of Medinah Mining, Inc. and all
other individuals who, via their brokerage houses, qualify for the dividend May 7, 1999.
There are expected to be some delays, originating from the share depositories, in
sorting out who are the qualified brokerage house recipients of the dividend. Early
indications suggest that more dividend shares are being requested than are legally
available.
The Annual General Meeting (AGM) of Medinah Gold, Inc. will be called and current
Management will accept nominations for a new Board of Directors. In the interim, the
Directors of Medinah Gold, Inc. are Larry Regis, President; Les Price, Vice President;
and Gary Goodin, Treasurer, Advance notice will be given to all registered
shareholders. Our attorney, Michael Morrison, is proceeding to file the required
documents to register Medinah Gold, Inc. as a public company.
It is intended that Medinah Gold, Inc. not only be owned by the shareholders but also be
directed and run by them. Nominations for the positions of Directors,
Secretary-Treasurer, Vice President, and President, must be for only those individuals
who qualify to hold office. For example, in the United States, individuals who have
criminal records, are convicted of securities fraud, or any other legal restriction that
applies, may not hold such an office.
There has been some difficulty in understanding these corporate developments and I
hope this letter explains to your satisfaction both the details of the dividend and the
benefit that we have delivered to you, our shareholders. The Board of Directors is proud
to be able to present to you this new company that has been developed from common
effort. All of you have been a part of bringing into existence a new and important
discovery in Chile and at the same time, bringing forth a new company with a wealth of
potential in the assets that it holds. What a good start to another exciting series of
projects!
I would like to remind all of you that, should you have any
questions about Medinah Mining’s projects in Chile, Medinah
Gold and the dividend or if you just want to talk to us on any
corporate subject, our doors are always open and you are welcome.
Our Website has all of the projects, including independent
confirmations of the new discoveries. Mr. Russell Godwin will post
shortly the new Gordon House report on Phase 1 Drill Program at
Alto de Lipangue – it’s great reading. Earl Hope, Russell
Godwin and myself, Larry Regis, are available to take your calls. Obviously, I may
not be able to talk to all of you, but Earl and Russell are well informed and
available every day.
Remember that at the AGM of Medinah Energy, Inc. in Reno, many of you thought our
projects might be "too good to be true"? Remember that, to a person, you were all
provided with documentary evidence, contracts, reports, financial statements and
professional opinions from qualified engineers and geologists? Remember how
skepticism became excitement about the real possibilities of our properties? Remember
how we looked forward with great anticipation to the work programs? Remember? Well
friends, through our drilling program, you and I have seen a possibility become a reality.
Now, just like at the AGM, all of the documentary evidence is at your fingertips.
Check out our Website at medinahmining.com
It is my sincere recommendation that you register your shares with the transfer agent.
For those who hold their shares in "street form" at a brokerage firm, your accounts may
be designated as having the Medinah Gold Shares contained therein even though the
certificate has not landed at that firm. Please insist upon delivery of your physical
Medinah Gold Certificates.
On behalf of the Board of Directors, Medinah Mining, Inc., Medinah Gold, Inc.
Larry Regis, President
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