A 6.6% interest in Aurizon Mines (TSE) has been sold to Nova-Cogesco Resources (TSE) by Hughes Lang (VSE) of Vancouver, the companies report.
Nova-Cogesco is a 51% indirect subsidiary of Hughes Lang; three directors of Hughes Lang sit on the board of Nova-Cogesco.
In a separate deal, Nova-Cogesco says it has completed the purchase of a 19.1% interest in Equity Reserve (TSE) of Vancouver. Frank Lang has been named chairman of Equity, and David Hall, president.
Equity, which is establishing itself as an investment bank, says that in addition to funding, it will provide technical, managerial and other services to the mining industry.
In particular, Equity says it wants to focus on opportunities to restructure mining companies with a strong asset base but limited financial and managerial resources, and on Latin American projects.
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