Post by Franko10 ™ on Sept 20, 2004 11:33:29 GMT -5
April 30, 2004
SHORE ANNOUNCES SPIN-OUT OF GOLD PROPERTIES AND CREATION OF NEW PUBLIC COMPANY
George Sanders, Vice President of Corporate Development of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce a transaction to transfer Shore's portfolio of gold assets to a new company to provide shareholders with a mechanism for participation in the improving gold exploration and investment climate. Equally important, the streamlining of the company's assets ensures that Shore be recognized as a pure diamond company with management focus on the Star Diamond Project and related Fort a la Corne
properties.
The proposed transaction, which has been in preparation since mid 2003, involves the transfer of all of Shore's gold properties to a wholly-owned subsidiary in exchange for shares in the subsidiary. Shore will distribute a portion of the shares in the subsidiary to existing Shore shareholders by way of a dividend in kind. The subsidiary will be financed by way of an Initial Public Offering.
Further details on the spin-out and financing will be released as they are finalized.
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Shore is a Canadian based corporation focused on advancing the Star Diamond project and engaged in the acquisition, exploration, and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the symbol "SGF".
For further information, please contact Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.
For further information please contact:
Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.
SHORE ANNOUNCES SPIN-OUT OF GOLD PROPERTIES AND CREATION OF NEW PUBLIC COMPANY
George Sanders, Vice President of Corporate Development of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce a transaction to transfer Shore's portfolio of gold assets to a new company to provide shareholders with a mechanism for participation in the improving gold exploration and investment climate. Equally important, the streamlining of the company's assets ensures that Shore be recognized as a pure diamond company with management focus on the Star Diamond Project and related Fort a la Corne
properties.
The proposed transaction, which has been in preparation since mid 2003, involves the transfer of all of Shore's gold properties to a wholly-owned subsidiary in exchange for shares in the subsidiary. Shore will distribute a portion of the shares in the subsidiary to existing Shore shareholders by way of a dividend in kind. The subsidiary will be financed by way of an Initial Public Offering.
Further details on the spin-out and financing will be released as they are finalized.
--------------------------------------------------------------------------------
Shore is a Canadian based corporation focused on advancing the Star Diamond project and engaged in the acquisition, exploration, and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the symbol "SGF".
For further information, please contact Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.
For further information please contact:
Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.