Change at Maggie spurs option

There has been a management change at International Maggie Mines which has enabled the company to pursue an option agreement with Minnova Inc., formerly Corporation Falconbridge Copper.

Millard H. Luther from Erie, Pa., has effectively taken control of Maggie and is its new president. David A. Howard of Vancouver, has accepted the position of secretary. They replace Harold Hopkins and his wife Marjorie who are still large shareholders in the company.

Minnova has agreed to spend a minimum of $1.5 million over the next five years on Maggie’s Indian River property near Squamish, B.C., for a 70% interest. Minnova has also agreed to subscribe for 100,000 shares of Maggie at 75 cents per share. Minnova will receive up to 500,000 shares over the life of the agreement for expenditures made on the property.