Dunfrazier Gold Explorations (ASE) says it has received only $1,200 from subscriptions for a rights offering from which the Toronto company had hoped to raise $135,625. Dunfrazier says it has been advised that 879895 Ontario Ltd., which had agreed to purchase any shares not taken up under the offering, will not proceed in this matter.
The company’s main asset is 66 claims in the Dog Lake area 40 miles southeast of Kenora, Ont.
Ivan Christopher has succeeded Dunfrazier’s former president Walter Cummings, who died recently.
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