News in Brief (December 01, 1986)

Tex-U.S. Oil & Gas has called a shareholders’ meeting to approve the purchase of a private company for 2.3 million post-consolidated shares. The company plans to consolidate shares on a 1-for-5-basis and changed its name to Mount Hinton Resources.

Terratech Resources says it has completed a private placement of 1,2 30,000 common shares, at 25 cents a share, the proceeds to be used in an as-yet-unidentified acquisition in the natural resources sector.

Sunmist Energy ’84 proposes to change its name to Sunmist Energy ’86 after an amalgamation with a numbered company.

Marker Resources Co. has entered an agreement to acquire a 50% to 100% interest in 625 claims in the southeast Flin Flon area, Man.

Terratech Resources says it has completed a private placement of 1,230,000 common shares at 25 cents a share, the proceeds to be used in an as-yet-unidentified acquisition in the natural resources sector.

The series 2 share purchase warrants in respect of 1,476,775 class A shares of BGR Precious Metals were posted for trading on the Toronto Stock Exchange at the opening on Thursday, Nov 13 under the stock symbol BPT.WT.S. These warrants were issued on exercise of the series 1 share purchase warrants which expired on Oct. 31. Each serries 2 warrant entitles hte holder to purchase one class A share at a price of $12.50 on or before Oct. 31, 1989.

Cambior’s board of directors has authorized an amalgamation of its wholly-owned subsidiary and Aiguebelle Resources on the basis of one Cambior share for 15 Aiguebelle shares. Aiguebelle’s board of directors is recommendcing to its shareholders acceptance of the offer.

Interlake Development, New Penn Energy, Beaverhead Resources and Claytron Energy plan to amalgamate under the name of International Interlake Industries. Shareholders are to receive 1 new share for each 5 old shares of Interlake, 11.95 shares of Beaverhead, 5.85 shares of New Penn and 23 shares of Claytron. Effective date is anticipated as Dec. 31.

Cambior Inc., in its first financial results as a public company, re ports net earnings of $2,620,000 or 11.5 cents per share for the third quarter of 1986. The third quarter results are based on only the two months of operations ended Sept 30 because Cambior only acquired its assets from Soquem on July 31, 1986.

The Vancouver Stock Exchange has accepted for filing the issue by Royex Gold Mining of 5,403,690 common shares to International Corona Mines Resources as settlement of approximately $16 million in debt and interest.

Sale of an inactive subsidiary for $700,000 cash will give Warren Explorations an extraordinary profit this year of about $650,000, the company reports. Including the sale proceeds, Warren has cash and liquid assets of $2,400,000 to finance acquisition and exploration, it adds.

Novamin plans to complete a private placement of 50 units at $36,000 per unit, each unit being exchangeable between March 16 and April 15, 1987, into 9,000 common shares. The $1.8 million raised will go toward exploration on the company’s properties in Ontario and Quebec.

Rambo Exploration has started exploration programs on its properties in Massicotte. Carheil and Clermont twps. Que., following completion of a public offering to raise $1.5 million. The company plans about 10,000 ft. of drilling in Massicotte twp. and also plans to do drilling on the Carheil twp. property.