Van Nest steers Landmark into merger with Gateford

Originally a mining exploration company, Calgary-based Gateford Resources (ASE) plans an amalgamation with closely associated Landmark Corp. (TSE).

Under the aegis of Vancouver businessman Gary Van Nest, the amalgamated company will be known as The Landmark Corp., which will retain its TSE listing and apply for a NASDAQ listing in the U.S. where it proposes to carry out substantial new financing.

Terms of the marriage will be one share in the new company for each Gateford and 11 shares for each 13 shares of Landmark.

The new company retains a 67% interest in Noble Mines & Oils (TSE) and 16% of Dominion Explorers (TSE), but has sold its entire interest in Canchrome Mines (ME).

Its principal interest now will focus on the wholly owned Canadian Institute of Formation Evaluation, a major supplier of computerized energy data to the Canadian energy industry, President and CEO Van Nest tells The Northern Miner, adding that this databank has been developed over the past 15 years at a cost exceeding $5 million.

Planned equity financing in the U.S. will be through an offering of $3 units consisting of one share and one warrant to raise US$3 million.