Dayton, Chevron drill

A rights offering, expected to net the company $2.2 million, will enable Dayton to fund the current drill program, repay outstanding debt and provide the cash needed to exercise its option to acquire a 100% interest in the project. The option can be exercised by paying Chevron $500,000(US) on Jan 15, 1990. Chevron will retain a 4% net smelter royalty.

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