News in Brief (February 23, 1987)

William Frederick Christensen has filed a notice of intention to distribute 150,000 shares of Lytton Minerals through the facilities of the Toronto Stock Exchange on or after Feb 17. The shares to be sold are to be acquired by the exercise of an employee stock option held by Mr Christensen, who with his wife own all of the shares of Northern Royalties, the holder of 2,310,789 shares of Lytton.

The shares of Geddes Resources were posted for trading in the mining category on the Toronto Stock Exchange on Feb 13. The company has 7.4 million shares of which 4.3 million are issued and outstanding and 3.07 million are reserved for issuance. Geddes has 100% ownership in the Windy Craggy property in the nortwestern corner of B.C.

The share purchase warrants of Toronto-listed Bralorne Resources which were posted for trading on Dec 12, 1983, will expire on March 1, 1987. However, as March 1 falls on a Sunday, the Royal Trust Company has agreed to accept certificates until 4 p.m. on March 2.

G.L.E. Resources has changed its name to Chelsea Resources on a 1-new-for=-3-old-share basis.

Calpine Resources of Calgary has entered into an agreement for the private placement of 972,222 common shares at a proposed price of 36 cents per share.

In a separate agreement, the company has also entered into a private placement of $500,000 involving the issue of flow-through common shares.

Control of Accord Resources has passed to a group of European investors. President Michael Wilson sold his stake to a group composed of Phrix A. G., Robert Perreboom and Transco Services SARL. Mr Wilson will remain as a director and president of the company.

Western Arlington Resources has changed its name to Lightning Creek Mines Ltd. on a share-for-share basis.

New Strategic Metals has changed its name to P.S.M. Technologies Inc. on a share-for-share basis.

The consolidated common shares of CanCapital Corp. were posted for trading on the TSE on Feb 9 at which time the common shares of Bonanza Resources were delisted. It is understood that shareholders at a special meeting on Jan 15 passed a special resolution providing for the consolidation of the common shares on a 1-for-2 basis and the change of the company’s name to CanCapital Corp.

Effective Feb 9, changes were made to the TSE 300 Index. Bonanza Resources was deleted from Oil and Gas producer and Granges Exploration was added to the Gold and Silver index.

The board of directors of Inco Ltd. has declared a regular quarterly dividend of 5 cents (US) a common share, payable March 20, to shareholders of record on Feb 26. Quarterly dividends on the company’s 7.875% series B preferred shares, payable March 2, to shareholders of record on Feb 24 have also been declared as are dvidends on the company’s 10% series C preferred shares, payable May 1 to shareholders of record on April 1.

U.S. Precious Metals has acquired on the open market about 630,000 shares for an 11% interest in Ruskin Developments, its joint venture partner on the Hilltop gold property near Battle Mountain, Nev.

International Santana Resources has changed its name to Image West Entertainment Corp. on a share- for-share basis.

Larch Resources N.P.L. has changed its name to Manticore Petroleum Corp. on a share-for- share basis.

Anomalous gold values have been found by Odessa Explorations on its Wisconsin gold property in northern California. The best results came from weathered granodiorite where a 25-ft sample averaged 0.068 oz gold per ton. Additional geophysics is planned prior to further trenching followed by drilling. The drill program will begin after the snow leaves, probably in March.

All the issued shares of Canadian Mine Development have been acquired by Hillsborough Exploration in consideration for four million Hillsborough shares. In fact, the issuance of Hillsborough shares gives Canadian Mine Development a controlling 89.5% interest in the junior company.

Canada Tungsten has declared a stock dividend equivalent to 18 cents on its common shares payable Feb 10 in the form of common shares to shareholders of record Feb 9. A stock dividend equivalent to 10 cents was last paid Oct 31, 1985.

Brentwood Resources has changed its name to Maverick Naturalite Beef Corp. on a share-for-share basis.

Teal Minerals has changed its name to Teal Industries Ltd. on a share-for-share basis.

Rand Ventures has changed its name to Formose Resources Corp. on a share-for-share basis.

Guld Resources has changed its name to Medsource Systems Inc. on a share-for-share basis.

Eskimo Resources has changed its name to Ft. Lauderdale Resources on a share-for-share basis.

Loredi Resources has changed its name to Marlin Developments Ltd. on a 1-new-for-5-old-share basis.

Black Diamond Resources has changed its name to Com-Air Containers (Canada) Inc. on a share-for- share basis.

Times Square Energy Resources has changed its name to New Hombre Resources on a 1-new-for-2-old- share basis.