Name change for La Sarre

Shareholders of Societe d’Exploration Miniere La Sarre (ME) recently voted in favor of a share consolidation and a name change. The company said its shares will be consolidated on the basis of one new share for four old shares. The new corporate name will be Mineraux Manic Inc.

Also approved was a financing agreement worth $750,000 with a private Alberta company. The private firm will purchase more than 2.1 million consolidated shares of the junior mining company at 35 cents each. In addition, it will acquire warrants providing for the purchase of shares at 46 cents each during a 30-month period. The share consolidation will result in Manic having about 4.6 million shares outstanding. The Alberta company will own about 30% of the issued stock.