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Post by Franko10 ™ on Oct 13, 2004 20:34:07 GMT -5
St. George units consolidate
NEW YORK - Vancouver, British Columbia,-based St. George Minerals Inc. said it will consolidate with its U.S. subsidiary, St. George Metals Inc., and liquidate.
According to the plan, St. George Metals will become a public company, with St. George Minerals shareholders receiving one share of new St. George Metals stock for every St. George Minerals share held.
Shareholders voted to re-elect the present directors of St. George Minerals to serve through the liquidation. All transactions should be completed, upon government approvals, by the end of August.
A spokesman for the company said there should be no changes in the way the company was run or in exploration ventures. St. George Minerals has been solely a holding company.
The spokesman said St. George Metals is a junior gold exploration operation that conducts joint exploration ventures with Reynolds Metals Co. and Billington Minerals USA, a division of Royal Dutch Shell Oil Co. St. George currently controls about 33,000 acres in the Battle Mountain and Carlin trends in Nevada.
COPYRIGHT 1990 Reed Business Information
COPYRIGHT 2004 Gale Group
NEW YORK - Vancouver, British Columbia,-based St. George Minerals Inc. said it will consolidate with its U.S. subsidiary, St. George Metals Inc., and liquidate.
According to the plan, St. George Metals will become a public company, with St. George Minerals shareholders receiving one share of new St. George Metals stock for every St. George Minerals share held.
Shareholders voted to re-elect the present directors of St. George Minerals to serve through the liquidation. All transactions should be completed, upon government approvals, by the end of August.
A spokesman for the company said there should be no changes in the way the company was run or in exploration ventures. St. George Minerals has been solely a holding company.
The spokesman said St. George Metals is a junior gold exploration operation that conducts joint exploration ventures with Reynolds Metals Co. and Billington Minerals USA, a division of Royal Dutch Shell Oil Co. St. George currently controls about 33,000 acres in the Battle Mountain and Carlin trends in Nevada.
COPYRIGHT 1990 Reed Business Information
COPYRIGHT 2004 Gale Group
