NO HEADLINE (June 25, 1990)

TEXT:

Trader, Cabre in legal action Toronto-based junior Trader Resource (TSE) is being sued by Cabre Exploration (TSE). Trader says it has been served with a statement of claim by Cabre (formerly Broulan Resources) for, among other actions, specific performance of the option previously held by Trader to acquire a controlling interest in Ronnoco Gold Mines, or damages.

Trader, Cabre, Ronnoco and a fourth party entered into an agreement in 1989 for exploration of property in the Timmins, Ont., area. Trader agreed to fund exploration work, and was given the option of purchasing, from Broulan and the fourth party, a 74% interest in Ronnoco.