Owner
Post by Franko10 ™ on Feb 22, 2005 21:29:32 GMT -5
GOLDEN ARCH RESOURCES LTD.
#928 – 470 Granville Street, Vancouver, BC V6C 1V5 Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
#928 – 470 Granville Street, Vancouver, BC V6C 1V5 Phone: (604) 681-8222 Fax: (604) 681-8282
GAI: TSX Venture Exemption 12g3 - 2(b)
GARCF: O.T.C SEC File # 82-659
NEWS RELEASE
October 10, 2003 – Golden Arch Resources ( the “Company”) announces that the Board of Directors has considered the circumstances surrounding the issue of a Convertible Redeemable Debenture (principle amount $337,500.00 CDN) issued to Silver Peak Resources Ltd. on October 15, 1996. The Board has determined that, upon investigation, no cash consideration has been received by the Company for the private placement of the debenture and the issuance of the said Debenture. The Board of Directors believes that the debenture is not enforceable against the Company. As a result this alleged liability will be removed from the Company’s balance sheet. Therefore, the Company’s Auditor shall be instructed to prepare financial statements which reflect this change.
On behalf of the Board of Directors of Golden Arch Resources Ltd.
“Les Kjosness”<br>President
