Alexander Resources Announces Approval of Investment License.TORONTO--(BUSINESS WIRE)--Sept. 17, 1998--The company is pleased to announce that its joint venture partner, Oceania Oceania (ōshēăn`ēə, –ā`nēə) or Oceanica (ōshēăn`ĭkə) Limited London has informed the management of Alexander of approval of an Investment License by the Zambian Investment Centre. The application for an Investment License was considered and approved by the Projects Approval Committee. The basis of the application is the investment in the telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industry in the amount of US$95 million in capital expenditure. Oceania Limited London has a period of one year in which to commence project implementation. The company must submit a progress report on the project within six months. The granting of the Investment License by the Zambian government marks the entrance of Oceania into the underdeveloped un·der·de·vel·oped adj. Not adequately or normally developed; immature. telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. sector in Sub-Saharan Africa. For and On Behalf of the Board Donald O'Sullivan Executive Chairman The Alberta Stock exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). neither approves nor disapproves of this news release. |
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