Former LAC geologists join combined Perrex Res. group

When the assets of Alberta-listed companies Perrex Resources (ASE), Alberta Gold Explorati on (ASE) and Gwen Resources (ASE) are amalgamated, Dennis Sheehan and Robert Valliant will review the company’s properties before they are presented for an independent evaluation. Sheehan and Valliant both served as senior vice-president exploration with Toronto-based LAC.

Until the independent property valuations and a fairness report are completed it won’t be possible to set the share exchange ratios for the proposed amalgamation, said Perrex Secretary-treasurer John Perron.

“The purpose of the reorganization is to combine the skills of the new management and the assets of the three corporations into a single company,” he said.

The three Alberta listed companies are controlled by brothers John and Alex Perron. But Sheehan, Valliant and Perrex vice-president Ian Hamilton are expected to be offered shares in the new company when the amalgamation is complete. Hamilton is a former LAC vice-president.

Perrex Resources holds a number of exploration properties in Harker-Holloway near Kirkland Lake, Ont. It is involved in a joint venture with Alberta Gold on the Iris claims at Harker and Elliott twps. Perrex also has substantial interests in Casa-Berardi, Que.

“The experience of Sheehan and Valliant and the strength of the properties should produce a good result,” said Hamilton during a telephone conversation with The Northern Miner.

The proposed amalgamation which is expected to be completed by June 1 is subject to both regulatory and shareholder approval.

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