News in Brief (February 08, 1988)

Breakwater Resources has completed the private placement of 276,000 flow-through shares at $6.325 per share for total proceeds of $1,745,700. The money will be used to fund exploration work on mineral properties owned by the company’s controlled subsidiary, Novamin Resources.

Dore Explorations and Norbaska Mines have amalgamated to form Dore-Norbaska Resources Inc. (dn:ase). Shareholders of Dore receive share-for-share; Norbaska shareholders receive 1 new 3.5 old shares.

Stornaway Resources Corp. has changed its name to Stornaway Capital Development Corp. (sdp:vse) on a share-for-share basis.

Pan Island Resource Corp. has changed its name to Western Harvest Seafarms Ltd. (whs:vse) on a share-for-share basis.

Charleston Resources has changed its name to Envipco Canada Western Inc. (ecw:vse) on a 1-new-for-4-old share basis.

Nalcus Resources has changed its name to Trasco Wind-Force Technologies Inc. (twf:vse) on a share- for-share basis.

Teck Corp. has announced that it has acquired for the account of Teck, Metall Mining Corp. and NIM (Canada) 1,818,444 common shares of Cominco Ltd., resulting from the exercise of 1,041,700 Cominco commodity-index share purchase warrants purchased previously on the Toronto Stock Exchange. The purpose of the conversion was to maintain the percentage of Cominco stock owned by Teck, Metall and NIM at around 29.5%.

Lucky Strike Resources of Vancouver has received payment from Granges Exploration as part of an option agreement on the Cambourne property near Revelstoke, B.C. Granges has drilled five holes but assay results are not available, Lucky Strike President William Graham says.