Geomaque Explorations has completed a geophysical survey on its 29-claim property in Bourlamaque Twp., Que. The work outlined several anomalies which have never been drill tested.
Joutel Resources has entered into a flow-through private placement financing, subject to regulatory approval, with 1987 tap Mineral Exploration Ltd. Partnership, President John Arnold reports. The company will issue up to 1.2 million subordinate voting shares at 50 cents per share. Joutel will spend the funds on its 1987 exploration program.
Gordex Minerals of Saint John, N.B., is selling, subject to regulatory approval, flow-through shares totalling $2 million, at $3 per share, to Somicom 1987 Minerals Partnership and Co. Ltd. Underwriters are Levesque, Beaubien and Dominion Securities Pitfield. Funds will be used for exploration work at Gordex’s Molega Lake gold property in Nova Scotia and at the Cape Spencer properties in New Brunswick.
A final short form prospectus was filed recently by Lac Minerals with the osc dealing with an initial offering of up to 2,000 1987 flow- through units for an aggregate of $10,050,000 (including agents’ fees). Each unit entitles the subscriber to receive 57 common shares of Lac.
Warrior Resources has changed its name to Warrior Industries on a share-for-share basis.
Merfin Resources has changed its name to Merfin Hygienic Products Ltd. on a share-for-share basis.
Placer Development has changed its transfer agent to National Trust Co. for its common shares.
Drummond Petroleum has changed its name to Excel Energy Inc. (eei:tse) on a 1-new-for-10-old share basis.
Be the first to comment on "News in Brief (July 20, 1987)"