American Gem Corporation Discusses Merger With Great Northern Mining Corporation N.L.HELENA, Montana--(BUSINESS WIRE)--Sept. 11, 1996--American Gem Corporation announces that it has entered into discussions with Great Northern Mining Corporation N.L. of Australia concerning a possible merger. Great Northern is a public Australian company trading on the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. . Great Northern operates sapphire mines in New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. and Queensland, and has gem cutting facilities in Sri Lanka Sri Lanka (srē läng`kə) [Sinhalese,=resplendent land], formerly Ceylon, ancient Taprobane, officially Democratic Socialist Republic of Sri Lanka, island republic (2005 est. pop. . The Boards of Directors of American Gem and Great Northern are of the opinion that a merger may provide significant benefits to the shareholders of both companies. The three top members of the Great Northern management team have extensive experience in the identification of mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature and mine development. American Gem controls a proprietary heating process which enhances the colour of Australian sapphire. In addition, the processing and sales and marketing expertise of American Gem could add significant value to the sapphire resources of Great Northern. Great Northern controls over 300 million carats of sapphire resources in Australia. American Gem controls 62.9 million carats of sapphire resource in Montana. A merged company would be the world's largest sapphire producer. Completion of a merger is subject to negotiation of a definitive merger agreement, as well as all required regulatory and shareholder approvals. For further information please contact: Greg Dahl, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. American Gem Corporation 130 Niell Avenue Helena, Montana Helena (IPA: /ˈhɛlənə/) is the capital of the State of Montana. As of the 2000 census, its population was 25,780, but with the surrounding area the population reaches 67,636 [1]. , U.S.A. Tel: 406/442-4000 Fax: 406/442-4096 CONTACT: American Gem Corporation Greg Dahl, 406/442-4000 |
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