Owner
Post by Franko10 ™ on Oct 2, 2004 14:07:50 GMT -5
Claimstaker Resources Announces Agreement to Purchase
Marketing Rights to Waste/Energy Co-Generation System
Accepted by VSE
VANCOUVER, BRITISH COLUMBIA--The Board of Directors of Claimstaker
Resources Ltd. (VSE Symbol - CLN) announces that the Vancouver
Stock Exchange has accepted for filing the agreement between EnEco
Systems Inc. and Claimstaker. Under the agreement, Claimstaker
has acquired the marketing rights for Japan, British Columbia,
Alberta and Yukon to a waste/energy system developed by EnEco
Systems Inc. of Vancouver. The system is a means of producing
energy from the controlled burning of waste. Controlled air
oxidation (CAO) will enable the purchaser and Claimstaker to
participate in co-generation of saleable electric power.
Claimstaker is also pleased to confirm that this transaction has
now closed.
Under the agreement, the Company will issue to EnEco 250,000
shares as follows: An initial payment of 25,000 shares to be
issued immediately that will have a hold period until September 8,
2000; optional additional payments of 50,000 shares each year for
four years on the earlier of the anniversary date of the agreement
or the date of the sale of each CAO System; and a final optional
payment of 25,000 shares on the fifth anniversary. Each issue of
shares under this agreement will be subject to a one-year hold
period from the anniversary date. There are no bonuses, finders
fees or commissions in connection with this transaction.
Jipangu Inc., our joint venture partners who are 50% owners of the
Blackdome Gold Mine, are investigating opportunities for selling
this waste/energy system in Japan where co-generating systems
account for a major part of their waste disposal. EnEco, which is
a state-of-the-art system in cleanliness and efficiency, is
attracting considerable interest in Japan. In British Columbia,
too, the Company is in discussion with a prospective purchaser.
Although Claimstaker continues to focus on exploration and
development of superior gold prospects, this system offers an
opportunity to generate an additional cash flow and to create an
electric utility division.
On behalf of the Board of Directors
Richard D. Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Mr. Robert Veitch
Investor Relations
1-888-236-5200
Website: www.claimstakerresources.com
The Vancouver Stock Exchange has neither approved nor disapproved
of the information contained herein.
Marketing Rights to Waste/Energy Co-Generation System
Accepted by VSE
VANCOUVER, BRITISH COLUMBIA--The Board of Directors of Claimstaker
Resources Ltd. (VSE Symbol - CLN) announces that the Vancouver
Stock Exchange has accepted for filing the agreement between EnEco
Systems Inc. and Claimstaker. Under the agreement, Claimstaker
has acquired the marketing rights for Japan, British Columbia,
Alberta and Yukon to a waste/energy system developed by EnEco
Systems Inc. of Vancouver. The system is a means of producing
energy from the controlled burning of waste. Controlled air
oxidation (CAO) will enable the purchaser and Claimstaker to
participate in co-generation of saleable electric power.
Claimstaker is also pleased to confirm that this transaction has
now closed.
Under the agreement, the Company will issue to EnEco 250,000
shares as follows: An initial payment of 25,000 shares to be
issued immediately that will have a hold period until September 8,
2000; optional additional payments of 50,000 shares each year for
four years on the earlier of the anniversary date of the agreement
or the date of the sale of each CAO System; and a final optional
payment of 25,000 shares on the fifth anniversary. Each issue of
shares under this agreement will be subject to a one-year hold
period from the anniversary date. There are no bonuses, finders
fees or commissions in connection with this transaction.
Jipangu Inc., our joint venture partners who are 50% owners of the
Blackdome Gold Mine, are investigating opportunities for selling
this waste/energy system in Japan where co-generating systems
account for a major part of their waste disposal. EnEco, which is
a state-of-the-art system in cleanliness and efficiency, is
attracting considerable interest in Japan. In British Columbia,
too, the Company is in discussion with a prospective purchaser.
Although Claimstaker continues to focus on exploration and
development of superior gold prospects, this system offers an
opportunity to generate an additional cash flow and to create an
electric utility division.
On behalf of the Board of Directors
Richard D. Somerville, President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Claimstaker Resources Ltd.
Mr. Robert Veitch
Investor Relations
1-888-236-5200
Website: www.claimstakerresources.com
The Vancouver Stock Exchange has neither approved nor disapproved
of the information contained herein.
